Abrigo partners with Green Check verified to support End-to-End Support for Cannabis Banking
As part of the Green Check Verified (GCV), the top provider of cannabis banking solutions for financial institutions, Abrigo announced today its partnership with the company's credit risk management company. The partnership will ensure that the community financial institutions have end-to-end support for banking cannabis-related businesses (CRBs) and maintain compliance.
Cannabis is now legal, whether medically or recreationally, in most states today, although it's not currently illegal on federal level, causing many complexities to provide financial services to the industry. 33% of respondents stated that their financial institution provides services or is considering banking CRBs in the future. As this industry grows and changes, banks and credit unions must be diligent in their due diligence and compliance measures. Abrigo's BAM+ software and advisory team has helped hundreds of banks navigate the changing cannabis industry with ongoing CRB monitoring and detection. With this partnership, Abrigo can now assist institutions working directly with CRBs. Green Check's CRB-facing software allows Abrigo customers to understand the scope of their cannabis banking business opportunities, manage account openings, automate the most mundane and error-prone aspects of compliance, and monitor their performance in cannabis