Collaboration ensures success with cannabis banking
Cannabis banking programs succeed when financial institutions have a solid understanding of how marijuana-related businesses operate. Shield Compliance is enabling that understanding for bankers, and that starts with customer-focused collaboration. Jenna Meyer and Cari Conklin drive that process.
According to Meyer, cannabis compliance is similar to portfolio management in commercial lending. “It’s about uncovering and understanding risk, and improving the bank’s responsiveness to examiners,” she says. “Our internal team works hand-in-hand to understand the needs of clients and their examiners, and builds them into our solution. As a result, all of our clients benefit.”
Collaborating with clients early in the development process also allows Shield to help banks spot problems sooner. “FinCEN guidelines are just that — guidelines,” says Conklin. “Since banking relationships, licensure and ownership structures in the cannabis industry can be complex, as a technical team, we rely on the experience and input of our customers.”
As you evaluate the opportunity to provide banking services to the legal cannabis industry, the team at Shield Compliance will guide you through the learning and implementation process to make sure you get the most out of our system and gain the full benefits of a cannabis banking program.
Shield Compliance
500 Union Street, Suite 310
Seattle, WA 98101
Contact: [email protected]
Call: 425-276-8235
Visit: shieldbanking.com