Mobile app will provide on-demand pay access to support businesses amid tight labor market; Demos available at Restaurant Leadership Conference December 6-9, 2021
December 06, 2021 09:00 ET | Source: Fourth Enterprises LLC
AUSTIN, Texas, Dec. 06, 2021 (GLOBE NEWSWIRE) -- Fourth, a leading provider of workforce and inventory solutions for the restaurant, hospitality and retail industries, today announced the launch of Fuego, a financial workforce solution designed to help businesses attract and retain talent through early and flexible real-time access to their earned hourly wages. The new product will be unveiled in conjunction with Fourth’s participation at the Restaurant Leadership Conference in Phoenix, AZ on December 6 - 9, where the company is hosting an innovation forum on December 8 to discuss current industry trends.
Purpose-built for the hospitality industry, the Fuego app integrates seamlessly with Fourth’s flagship workforce management and scheduling solution, HotSchedules, to provide employees with easy access to earned wages from previous shifts, accurate earnings forecasts based on their scheduled shifts, and potential earnings to entice shift swaps and pick-ups. In addition to connecting directly to employees’ bank accounts for on-demand earned wage access, Fourth is introducing the Fuego Visa® Card, in which funds can be deposited and used for purchases where Visa debit cards are accepted. Furthering Fourth’s commitment to helping businesses put their people first, Fuego will also be offering carefully designed financial wellness tools to help employees save for short or long-term goals.
“As the industry continues to face uncertainties as a result of the labor shortage, Fourth remains focused on providing our partners with the tools needed to attract, hire and retain valuable talent,” said Clinton Anderson, CEO of Fourth. “With Fuego, we’re empowering our customers with the ability to provide employees consistent, on-demand pay and increased financial freedom to alleviate stress and create a better work environment. Ultimately, Fuego will complement our existing solutions and help our customers optimize their workforce to reduce turnover, save costs on hiring and increase productivity so they can focus on the business.”
Fuego is enabled by Fourth’s partnership with Central Payments and their Open*CP Fintech API Marketplace, one of the only true bank-as-a-service payments platforms powered by a full-scale digital payments bank. Open*CP provides access to the entire payments ecosystem through its embedded suite of services.
The launch of Fuego comes on the heels of Fourth’s recently announced acquisition of Snagajob’s applicant tracking (ATS) and onboarding solutions for hourly-waged employees, PeopleMatter and Hiring Manager®, to complement its current portfolio spanning applicant tracking, onboarding, training, scheduling, time & attendance, performance management, advanced forecasting & analytics and payroll. The launch of Fuego, coupled with this acquisition, accelerates Fourth’s mission of enabling its customers to effectively hire, retain and manage their workforce.
About Fourth Enterprises
Fourth Enterprises LLC, parent company of HotSchedules and Fourth, is a leading provider of end-to-end workforce management and operations software solutions for the restaurant, hospitality and retail industries. Fourth’s workforce management and operations solutions, coupled with its comprehensive data and analytics suite, give operators the actionable insights they need to control costs, scale profitability, improve employee engagement, and maintain compliance. Headquartered in Austin, Texas, Fourth Enterprises serves more than 7,000 customers across 120,000 locations globally. For more information, please visit www.fourth.com.
About Central Payments Central Payments is the payments subsidiary of Central Bank of Kansas City and is headquartered in South Dakota. Central Payments administers payment solutions for partners through its own Open*CP Fintech API Marketplace, one of the only true bank-as-a-service payments platforms and the technology responsible for Central Payments' rise to the fastest growing prepaid card issuer since 2015.* Along with its fintech accelerator program, Falls Fintech, Central Payments produces a podcast called Fintech Brews & News where you can find unique perspectives on how to bridge the gap between banking, startups, and the entire fintech industry. Member FDIC.* Source: The Nilson Report, 2015 to 2019.
Media Contact: Sara Davis ICR for Fourth Enterprises Fourth@icrinc.com