Green Check Verified, a company that offers cannabis banking software and service solutions, today launched a suite of account monitoring and compliance tools to enable institutions to meet regulatory requirements more efficiently.

Why should we care?
It’s estimated that the global cannabis market will grow to $42.7B by 2024. With momentum for legalization across various jurisdictions, banks that cater to cannabis businesses are looking for compliant ways to deliver products and services. It’s a sector that many large institutions would be hesitant to work with, but that’s changing. Green Check Verified this week rolled out account monitoring mechanisms to help clients comply with anti-money-laundering laws, along with built-in analytics measures. Due to legal complications, many prominent financial industry players – including Mastercard and Visa – refuse to work with pot-banking businesses and a lot of traditional banks stay away from the sector. With the new tools from Green Check Verified, the company hopes to help financial institutions that cater to this industry launch and scale more quickly, and automate compliance work flows.