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Leaders In Cannabis Sector Join 'Risk Mitigation Alliance' To Bring Discounts On Banking, Compliance

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Simplifya, a regulatory and operational compliance software platform serving the cannabis industry, added several companies to the Risk Mitigation Alliance – a conglomerate of the risk mitigation companies in the cannabis industry with a common purpose to help cannabis operators and cannabis-related businesses (“CRBs”).

Along with founding partner Shield Compliance, which offers a BSA/AML compliance management platform for cannabis banking, new RMA members include: Comploy, a payroll and human resources provider; Vicente, a marijuana law firm; Sound Community Bank, a state-chartered commercial bank headquartered in Seattle, Washington; and Dart Bank, a private bank headquartered in Mason, Michigan. In April, Simplifya also successfully launched RMA with providers and brokers in the insurance sector including: CannGen; HUB Insurance; IMA Financial Group; SafeHerb; and QuadScore.

“RMA’s newest members represent the most experienced risk mitigation companies in the cannabis industry, and signals that experts from across the sector are working together to ensure the success of this emerging industry,” stated Simplifya CEO and co-founder Marion Mariathasan. “We have come together to bring financial relief because we believe that compliant licensed operators with exceptional governance pose less risk for their businesses, their partners, consumers and ultimately, the industry.”

Through the RMA, cannabis operators and CRBs are eligible to receive bundled risk mitigation services that include operational compliance, legal, insurance, banking, lending, payroll, and payments through one simple contact. They can also access significant discounts on best-in-class operational services and compliance tools, including:

Compliance and risk mitigation: RMA offering brings cannabis operators and CRBs 70% off the cost of Simplifya’s core suite of operational and regulatory compliance solutions – paid for by participating RMA partners. Mariathasan added, “For operators with a reduced risk profile, and those who aspire to run sound-compliant businesses, RMA provides subsidized risk mitigation tools, access to additional financial services and meaningful discounts on banking, tax, legal, payroll, HR, insurance, and other services. In today’s economy, I don’t know an operator or CRB that isn’t looking to save money on operational costs.”

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This article was originally published by Vuk Zdinjak in Benzinga


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