Green Check Verified Introduces First-of-its-Kind Account Monitoring Tools for Cannabis Banking

Allows for safe and efficient expansion of cannabis banking programs, products and services

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New Haven, CT, March 9, 2021 –  Green Check Verified (GCV), the leader in cannabis banking solutions, today announced the addition of a robust set of account monitoring tools to its compliance management platform. The enhancements allow financial institutions to achieve comprehensive program and relationship oversight, measure customer activity versus peer and historic performance and gain insights that allow for the safe expansion of products and services.

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“Banks and credit unions are becoming more confident in this industry every day, and the result is a push for both increased market share and a larger suite of product offerings,” says Mike Kennedy, Co-founder, Head of Product at Green Check.  “We want to enable the institutions we work with to achieve their growth goals efficiently and safely without the restraints of manual processes, and at the same time, ensure they are equipped with an unprecedented view of their program, its current results and its untapped opportunities.”

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Created by GCV’s team of cannabis banking subject matter experts, including former federal examiners, compliance officers and BSA experts, the new monitoring features let financial institutions leverage their contemporary feed of each accounts’ regulatory, financial and operational data. The result is a deeper understanding of the day-to-day activities of each business, as well as how that activity compares to their peers and against past performance.

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Designed to adhere to current and evolving BSA/AML requirements, a prescriptive workflow with built-in analytics ensures each account monitoring task is completed according to regulatory best-practices. Additionally, the flexible tools allow financial institutions to embed their own unique policy and procedure requirements into the account monitoring process.

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“I wish we had a Green Check for every industry,” says Keri Cain, Director of Special Programs at Regent Bank.  “Our partnership with Green Check allows us to operate an effective, efficient and transparent line of business that is unique to our bank, and this new set of features gives us amazing insights into our program as it grows along with this rapidly expanding industry.”

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This announcement follows closely after GCV’s recent oversubscribed $2.4 million Convertible Debt Financing. Green Check Verified now operates in 26 states with over 600 cannabis companies on its platform.