Cogent Partners with Green Check Verified to Equip Cannabis Businesses with FinTech Solutions

Cogent Bank has partnered with Green Check Verified, a provider of cannabis banking solutions, to offer its full suite of products and services across the business supply chain within the cannabis banking ecosystem.

With the climate surrounding cannabis banking clearly changing, more and more financial institutions are participating in the industry, while financial offers are being made available to legal cannabis businesses.

Despite progress, these legal businesses still have significant unmet needs for financial services.

Cogent deploys a program that treats cannabis businesses like any other customer. This includes providing deposit and cash management services and even certain types of loans that are notoriously difficult to obtain in the industry.

"As more Southeast businesses seek to enter the legal cannabis market, access to sustainable financial services at established regional banks like Cogent is critical to the success of a business," Kevin, CEO of Green Check Verified Hart told Benzinga.

"Even if federal legalization is getting closer to becoming a reality, that doesn't mean lawmakers will make it any less complex for cannabis businesses. The reality is that even if the climate around cannabis cannabis banks softens, we should still expect to see even more rules and regulations in a post-prohibition environment,” he added. "By partnering with a reputable financial institution like Cogent, we are ensuring that these emerging companies are both financially backed and legally compliant every step of the way, now and in the future."

Cogent's customers can leverage GCV's platform, which serves as a complete end-to-end program management solution for the bank while reducing the compliance burden on businesses from weed.

GCV has over 100 US banks and credit unions as customers and has over 2,000 cannabis businesses on its platform.

Photo: Courtesy of geralt and Kindel Media by Pixabay

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

CANNABIS BENZINGA CONFERENCE

Meet the biggest players in the cannabis industry and strike deals that will drive the industry forward.

Featuring live company presentations, insider panels and unparalleled access to networking, the Benzinga Cannabis Capital Conference is where cannabis executives and entrepreneurs meet .

Join us September 13-14, 2022 at The Palmer House in Chicago, IL.