Get Started in Cannabis Banking
The market opportunity for legal cannabis is flourishing. As a growing number of states supplement medical marijuana programs with recreational/adult-use programs, New Frontier Data estimates that the legal marijuana industry in the U.S. will reach $41.5 billion by 2025.
Build Your Cannabis Program
Building a successful cannabis banking program requires partnerships to provide the industry experience and expertise necessary to navigate a complex and inconsistent regulatory environment.
What You Need to
Bank Cannabis
TOP SIX MUST-HAVES
Here are six critical must-haves for every financial institution in cannabis banking, or considering banking the legal cannabis industry.
What You Need to
Bank Cannabis
Here are six critical must-haves for every financial institution in cannabis banking, or considering banking the legal cannabis industry.
Find a partner with industry experience.
Shield Compliance solutions are powered by the Shield Data Hub, a cloud-based service that aggregates and evaluates transactional data and demographic records with restricted and public information from state and local governments, seed-to-sale tracking data, and client accounting.
Invest in technology specific to cannabis.
Most BSA/AML platforms are built to manage compliance standards but fall short of generating the data and filing tools required to comply with the cannabis regulatory system. Purpose-built solutions allow your financial institution to focus on productivity, creating a competitive advantage.
Leverage the power of data to mitigate risk.
Compliance requires routine analysis and timely alerts into suspicious client activity. With insights gained from detailed client provided data, verified against public and private records, your compliance officers can investigate anomalies, resolve cases, and file reports to regulatory agencies.