BONITA SPRINGS, FL, Nov. 01, 2022 (GLOBE NEWSWIRE) — Green Check Verified (GCV), the leading fintech provider of compliant cannabis banking solutions and services, today announced a partnership with The Home Savings and Loan Company of Kenton, Ohio (HSLC). Through this partnership, HSLC will launch its newly formed cannabis banking program, with plans to offer a full suite of products and services to the entire supply chain of businesses within the cannabis industry ecosystem.
As the cannabis industry continues to expand in Ohio and legalization efforts on the federal level carry on, the perception of cannabis banking is evolving. Not only are more financial institutions (FIs) finding their way in this space, the financial offerings being provided to the legal cannabis businesses continue to expand as well. In spite of this forward momentum, these legal businesses still have considerable financial services needs that have not been met.
This partnership aims to improve integrated compliance for financial institutions and cannabis-related businesses in Kenton and the greater Ohio area. GCV will extend key components of monitoring for marijuana-related business and workflow solutions to automate license verification and monitoring for violations, negative news, and other compliance red flags.
“The cannabis industry is growing at an exponential rate in Ohio, and FIs like HSLC are paving the way for these businesses to be successful through new banking services,” said Paul Chesek, Chief Growth Officer at GCV. “This is another major step towards improved compliance for cannabis-related businesses, and Green Check Verified is thrilled to be an integral part of the journey.”
“We understand the challenges faced by cannabis related businesses when it comes to banking, that’s why we’ve established a Special Accounts Team” says Chris Jones, CEO at HSLC. “We’ve hired the best in class to help businesses navigate the complexities of the cannabis industry. Our team is made up of our BSA Analyst, Crystal Curry, and Ross Richards who serves as our Special Accounts Officer. Crystal and Ross are focused on providing the services businesses need.”
HSLC is paving the way by introducing a cannabis banking program that offers all of the features of its serviced-based way of community banking to these legal businesses. The program includes deposit and lending products for businesses and owners, as well as their employees. HSLC also offers PIN debit merchant services to help facilitate payments by debit cards for cannabis related retail businesses.
About Green Check Verified
Green Check Verified (GCV) is a regulatory software and services company founded in 2017 by a team of technology, banking, and regulatory experts. GCV focuses on the intersection between community banking and the emerging legal cannabis industry and aims to provide the services and tools needed to connect these two industries in compliant and profitable ways. For more information about Green Check Verified, visit www.greencheckverified.com.
The Home Savings and Loan Company of Kenton, Ohio is a state chartered, full-service community bank, headquartered in Kenton, OH with locations in Lexington, KY. Founded in 1888, HSLC’s focus has always been to serve communities, businesses and individuals with full service lending, banking and merchant services products. For more information, visit www.hslc.bank.