Carrier payments platform TriumphPay, a division of TBK Bank SSB, announced Tuesday it had promoted Melissa Forman to president and Tim Valdez to chief operating officer.
Forman had served as senior vice president and chief strategy officer. Prior to joining TriumphPay as senior vice president and chief operations officer in 2019, she spent decades in logistics services and over seven years in developing fintech services for transportation providers.
Valdez previously served as TriumphPay’s senior vice president and factor leader. He will continue to serve as its factor leader along with his new role.
According to Aaron P. Graft, chief executive officer of Triumph Bankcorp, Forman has played a key role in the payment platforms momentum, helping the company execute its product road map “to solidify our position as the transformation payments platform for brokers, factors, carriers and shippers.”
Forman’s product execution was showcased in January when TriumphPay announced it had successfully beta tested a full open payments network, facilitating remittances between two payors and five payees.
Related: TriumphPay Audit onboarding customers; platform reduces industry payment inefficiency
An example of this type of network includes a shipper, a broker and a number of carriers contracted by the broker to facilitate the movement of the shipper’s goods, while all parties use TriumphPay to provide remittance or factoring services.
Now as the payment platform’s president, Forman looks forward to building off that success.
“TriumphPay has already made substantial progress in bringing much-needed innovation to the crucial payments component of the freight industry,” said Forman. “As president, I’m looking forward to leading our efforts to break the archaic 30-day payment cycle for truckers and scale our seamless payment solutions for brokers, factors, carriers and shippers across the freight industry.”
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