Cogent and Green Check Verified collaborates to provide FinTech solutions to cannabis businesses

Cogent-Teams-Up-With-Green-Check-Verified-To-Equip-Cannabis-Businesses-With-FinTech-Solutions_5GwA2UM6w

Full-service financial institution Cogent Bank (Cogent) and one of the largest banks in the southeastern U.S. region, today announced a relationship with Green Check Verified (GCV), a leading fintech supplier of compliance cannabis banking solutions and services. Cogent intends to make its whole product and service portfolio available to the entire cannabis banking supply chain as a result of this partnership.

As the cannabis sector in Florida matures and federal legalization initiatives proceed, the banking climate surrounding cannabis has definitely changed. The number of financial institutions (FIs) operating in the legal cannabis market is increasing, as are the financial services available to these enterprises.

While progress has been made, the financial needs of these legal firms remain unmet. To address this issue, Cogent has developed a program that handles cannabis businesses the same as any other. Deposit and treasury management services, as well as other sorts of loans that have been famously difficult to obtain in the business, are all part of this.

Cogent Teams Up With Green Check Verified To Equip Cannabis Businesses With FinTech Solutions - Benzinga

Chris Hartman, Cogent Bank’s Chief Deposit Officer, explains that “innovation, an entrepreneurial spirit, and the desire to help underserved businesses have always driven the initiatives at Cogent Bank.” There is a significant expansion of the cannabis industry, and companies in this sector want the same financial services as those in other industries.

Also Read: Nasdaq News: Medical Marijuana, Inc. CEO on U.S. Cannabis Market

When it comes to financing enterprises in our industry, Green Check’s collaboration with us offers us a great deal of trust. There has been a lot of interest in Cogent’s program from local cannabis firms because of the institution’s size and unique offers. Customers of Cogent can now use GCV’s platform for program management, which not only minimizes the bank’s compliance cost but also significantly lessens the strain on cannabis businesses.

For Cogent to be successful, “Green Check is the leader in this space, providing a platform and oversight,” adds Hartman. That versatility allows us to monitor transactions and be confident that our clients are adhering to state rules because we can operate with a variety of different POS systems.” As financial institutions (FIs) serving the industry have numerous compliance and regulatory duties, as well as a constantly altering regulatory environment, it has become vital to use financial technology in order to efficiently interact with this specialist market.

How Cogent Bank treats cannabis account holders like 'any other customer' – Florida News

In the words of Kevin Hart, CEO of Green Check Verified, “Green Check views itself as a true partner to the financial institutions we work with, and we are constantly enhancing our products and services to meet their needs.” It is an exciting time for our organization, and we look forward to working with Cogent’s team as they expand their service offerings into this rapidly expanding market..”

Also Read: Best Cannabis Stocks To Buy Long Term?

GCV has more than 2,000 cannabis firms on its platform and over 100 U.S. banks and credit unions as customers. In addition, American Banker has recognized GCV as the third best Fintech workplace in 2022 and an accolade bestowed on the industry’s top employers.

The Green Check Verified

Founded in 2017 by a team of technology, banking and regulatory experts, Green Check Verified (GCV) is a regulatory software and services company. It is GCV’s mission to integrate community banking with the emerging legal cannabis business by providing the services and resources necessary to do so in a legal and lucrative manner. Visit www.greencheckverified.com to learn more about the company.

ABOUT THE COMPANY - Cannabis Banking

Also Read: Cannabis Industry Group Releases Tv Ads Urging Passage Of Marijuana Banking Bill

Cogent Bank

As a full-service corporate and personal bank, Cogent Bank has been in operation since 2001. Cogent has more than $1 billion in total assets and has banking locations throughout North, Central, and Southwest Florida. In order to fulfil the demands of a wide spectrum of clients, Cogent provides a wide range of loan, deposit, treasury management, and mobile banking services.

Wade Faircloth - EVP, Market President - Cogent Bank | LinkedIn

High-touch, innovative services that make handling financial transactions easier are what Cogent believes banking should be. Financial understanding and a desire to learn more about clients’ goals and objectives form the foundation of Cogent’s service. Visit www.cogentbank.com for additional information.

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