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Taco Bell franchisee to launch bank for QSRs

Taco Bell franchisee to launch bank for QSRsPhoto: i-Stock

Farzin Ferdowsi, CEO of Management Resources Company, which manages more than 2,000 employees in multiple businesses including 90 Taco Bell restaurants in Tennessee, Kentucky and Atlanta, Georgia, has partnered with banking industry executive Dan Dellinger to launch Sonata Bank. The bank will focus on quick-service restaurants and fast casuals through digital strategies, according to a press release.

Farzin Ferdowsi, CEO of Management Resources Company.

Dan Dellinger

"We've assembled a talented team of experienced bankers that are deeply committed to helping local businesses," Dellinger said in the release. "Their proven success in the Nashville area market, along with our strong operations team, will be the cornerstone that ensures we deliver an extraordinary customer experience."

Sonata will launch its platform for the QSR market in the second quarter of 2023.

"The QSR market has the highest employee turnover of any industry at 144%. We see an opportunity to reduce this turnover by serving workers' banking needs," Ferdowsi said in the release. "Far too many workers in our industry are unbanked or underbanked. It has really become both a business and personal mission to make a difference with this underserved segment of the market."

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