Print Issue: 2022 - June Edition

More banks gain a foothold in cannabis

Most banks have steered away from banking cannabis, skittish because Congress continually sidesteps passage of The SAFE Banking Act, which would provide a safe harbor to banks that service MRBs. However, both banks and industry consultants say that by adopting a stringent compliance program, banks operating in states with legalized medicinal or recreational cannabis can, by utilizing an effective compliance program, set themselves up for long-term revenue opportunities that more risk-averse banks will miss out on.  [Continue]

Building security into data strategy

The use of APIs expanded in the 1990s as use of web applications and the internet increased. Today, they’re necessary in order to integrate data between platforms. With the movement of data — particularly the highly confidential, sensitive data that banks handle — privacy and security are of paramount importance. No bank wants to make the headlines due to exposed customer data. [Continue]

Secure file transfer: Beyond point A to point B

The secure file transfer experience for the customer has to be effortless; that’s a given. Security protocols should be paramount to any vendor that provides the transfer of sensitive documents, also a given. But beyond that, secure file transfer platforms can benefit a bank in other ways, by providing behind-the-scenes automation, document storage and more. [Continue]