Tampa, FL – October 29, 2020 – Fintech continued to solidify its position as the nationwide leader in the beverage alcohol industry with significant business growth and development in the third quarter. Fintech expanded product offerings and grew its client base with new alcohol suppliers, distributors, and retailers seeking beverage alcohol management solutions. Today, Fintech works with over 4,100 alcohol distributors nationwide, automating invoice payment and data for more than 625,000 industry relationships and facilitating over $33 billion in annual beverage alcohol payments.
In the third quarter alone, Fintech established over 47,000 new business connections providing retailers and distributors touch-free technology to exchange alcohol invoice payment. With the growth in new business connections, Fintech continues to support alcohol compliance, processing over $9.2 billion for its clients last quarter. Contributing to this growth were many notable long-time clients who implemented Fintech’s services at new locations, including Buffalo Wild Wings, Circle K, Walgreens, First Watch, and Target.
Fintech’s exceptional client support and technology-driven advancements also attracted thousands of new clients in the third quarter, ranging from well-known chains to smaller enterprises. The company’s data and payment solutions are driving forces for efficiency and profitability for restaurants, convenience, grocery, liquor stores, and more.
California Pizza Kitchen
The pizza restaurant brought over 150 locations to Fintech last quarter for enhanced safety and improved visibility across their entire alcohol business.
Another chain Fintech welcomed was Pollo Tropical, a quick-service Caribbean restaurant. When Pollo Tropical introduced alcohol at over 140 Florida locations, they confidently selected Fintech to streamline the process.
Minnick’s Drive Thru
In August, a convenience store chain based in Ohio, Minnick’s Drive Thru, selected Fintech to simplify payment and reconciliation for their beverage alcohol invoices at 15 locations.
Bavarian Inn Motor Lodge
The Bavarian Inn Motor Lodge, a German-style hotel and restaurant in Frankenmuth, Michigan, brought their business on Fintech last quarter to better manage their beverage alcohol category.
Daughtridge Gas and Oil
Operating in North Carolina and Virginia, Daughtridge Gas and Oil implemented Fintech across nine locations last quarter to streamline alcohol invoice payments and reconciliation processes.
To continuously grow its nationwide network, Fintech works extensively to develop technologies to assist all types of distributors, including national leaders, local breweries, wineries, and micro-distilleries. In the third quarter, 154 new distributors began using Fintech to help simplify business processes.
Schmidt Family Vineyards
Schmidt Family Vineyards, an Oregon-based distributor, began utilizing Fintech in July to simplify their retailers’ alcohol remittance.
Ironbound Hard Cider
Ironbound Hard Cider offers a premium selection of cider made with apples grown on their farm and selected Fintech last quarter to automate their alcohol invoice payment collection process.
Back Road Brewery
Established in 1996, Back Road Brewery was LaPorte, Indiana’s first production craft brewery. Last quarter, the company turned to Fintech to simplify payment collection processes for their distributorship.
Keel and Curley Brands
Florida-based Keel and Curley Brands is known for their sustainable beer, cider, and wine products. In July, they began utilizing Fintech’s CRM solution to managing their selling processes.
In the third quarter, Fintech appointed Amit Aghara as Chief Technology Officer. Mr. Aghara brings robust expertise in the technology and software sectors, having gained over 20 years of experience at two successful startups as well as at IBM, an industry leader in the software sector.
“Amit brings a wealth of knowledge to his new role at Fintech, and he will certainly be an invaluable asset to our team as we continue to advance our product architecture and solutions platform. Amit’s ability to plan, execute and deliver all aspects of new, innovative technology solutions aligns with our overall mission as a company and will further enhance the services that we are able to provide to our clients,” said Tad Phelps, Fintech CEO.
Fintech is the leading business solutions provider for the beverage alcohol industry, empowering alcohol suppliers, distributors, and retailers with smart solutions that simplify beverage alcohol management. From product ordering and invoice payments, to sales strategy, business intelligence, and industry insights, Fintech continues to lead the development of technologies that increase margins and maximize operating efficiencies for anyone who sells alcohol. With decades of industry experience and unwavering dependability, Fintech automates over 600,000 business relationships nationwide. To learn more, visit www.fintech.com.
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FOR IMMEDIATE RELEASE: October 29, 2020
Contact: Misha Hart, 800.572.0854 x 3827, [email protected]
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