A banker-led and managed solution.
Here’s How it Works
We implement the Cannabis Compliance Program at your bank, train your staff, and ensure you are ready to bank cannabis
We screen potential CRB customers and introduce them to you after they’ve passed our rigorous vetting process
We provide ongoing monitoring, reporting, and remediation of transaction activities at the account and overall program level.
Before you begin banking cannabis,
we ensure you’re ready by providing:
- Comprehensive policies and procedures
- Training at the line, management, and board levels
- AML/BSA/KYC program evaluation
- ERM and Technology evaluation
- Program FinCEN guidelines verification
Before you onboard a CRB, we ensure they are ready by providing:
- Comprehensive compliance audit, including an operational review, critical document review, background checks, and any necessary remediation
- Training for CRB management and staff
- Ongoing monitoring and inspection of each CRB account to ensure they remain compliant with current and future requirements
We provide ongoing transaction monitoring and support
- Monthly reports for each of your CRB accounts
- Verify that state tax filings match POS and deposits data
- Quarterly program reporting for management and the board
- ERM and Technology evaluation
- Support through all audits and exams
We become part of your team
We’ll be there with you every step of the way at the line, management, and board levels. We are only successful when you are, so think of us as an extension of your team
Manager Risk to Realize Rewards
Cannabis banking is somewhat complex, but solvable. When done right, it can provide a highly profitable source of new deposits. And preparing early has first mover advantages.
| Sample Bank | Getting Started | Potential |
|---|---|---|
| Existing Deposits | $1B | $1B |
| Potential Cannabis Deposits | $10M | $100M |
| Cannabis % | 1% | 10% |
| Existing Yield on Assets | 5.5% | 5.5% |
| Negative Cost of Funds (BP + Fees) |
1% | 1% |
| Total Spread | 6.5% | 6.5% |
| Gross Yield on Cannabis Deposits: | $650,000 | $6,500,000 |