Profile

Originally, Fintech was founded to address B2B challenges associated with alcohol purchasing. The top challenges at this time included adhering to on-time submission and collection of alcohol invoice payments to keep businesses that sell alcohol compliant with the diverse liquor laws across all 50 states. Fintech set out to create a system that used electronic funds transfer which would automatically initiate the movement of funds from retailers to distributors through the Federal Reserve according to the due date stipulated on the invoice by the distributor, whether cash-on-delivery was required or an extended time to pay was offered. This process revolutionized the way alcohol distributors and their customers did business by not only supporting adherence to state regulations, but also by removing the need to manage checks, cash, money orders, and other forms of payment. This workflow automation increased efficiency not only AP and AR teams, but also for delivery drivers eliminating the need to collect payment at the time of delivery or chase late payment, which could jeopardize alcohol product sales and fulfillments.

Visit www.fintech.com

Key Products

PaymentSource supports B2B alcohol purchasing by providing AP and AR automation solutions tailored to the alcohol industry. These include invoice payment automation, invoice data standardization, seamless data integration, actionable reporting, and access to comprehensive invoice histories.

For B2B purchasing of non-regulated goods, services, and supplies, PaymentSource extends its AP and AR automation capabilities. The platform facilitates invoice payments through autopay, ACH, or checks and ensures invoice data standardization, integration, and detailed reporting. It processes invoice data using OCR technology, data integration, or its proprietary Invoice Builder tool.

For retail businesses and their supply-chain partners, the Scan-Based Trading solution offers a consignment selling model. This approach eliminates inventory holding costs and addresses supply and demand challenges by leveraging point-of-sale data.

Key Executives

Tad Phelps, CEO

Tad Phelps has been the CEO of Financial Information Technologies, LLC (Fintech) for the past 7+ years. Prior to joining Fintech, Tad spent 16+ years in Atlanta, GA with Radiant Systems, which was acquired by NCR in 2011. As a member of NCR’s Executive Management Team, he held the role of Global Vice President & General Manager of the Hospitality, Travel & Entertainment Divisions. Tad has more than 35 years of hospitality and technology experience with companies including PepsiCo, General Mills and AFC Enterprises.

Trey Williams, President & COO

Trey Williams: Trey has been the COO of Fintech Information Technologies, LLC (Fintech) for the past 6+ years, and President and COO for the past 18 months. Prior to joining Fintech, Trey spent 15 years in Dallas, TX and Atlanta, GA with Radiant Systems, which was acquired by NCR in 2011. Trey served in the role of North America Vice President & General Manager of the Hospitality, Travel, and Entertainment Divisions where he was responsible for all North American retailers and their growth outside of North America. Trey has more than 35 years of technology experience with companies including Accenture and Siebel Systems.

Amit Aghara, CTO

As CTO, Mr. Aghara works with Fintech’s executive team to create, execute and launch new products offerings across the company’s product domain that supports clients and partners, and continues to drive operational and financial growth for Fintech. Before joining Fintech, Mr. Aghara gained more than 20 years of experience at two successful technology startups, Kore.ai and Kony, as well as at IBM, one of the technology industry’s largest software and service providers. In his most recent position as Chief Technology Officer and General Manager of Solutions Group with Kore.ai, Mr. Aghara was part of the founding team leading the creation and implementation of a market-leading virtual assistant platform that contributed to growing the company $100M+ ARR. During his time with Kony and IBM, he was responsible for the development of successful mobile application platforms and various other software products. Additionally, throughout his career, Mr. Aghara has filed six patents with the USPTO and has been featured for his expertise in several technology publications.

Investors

Fintech is backed by leading investors TA Associates and General Atlantic.