Cannabis THC & Hemp Businesses
Become a catalyst for positive change in your local community by providing financial services specifically tailored to the unique needs of hemp and Cannabis THC businesses. By leveraging this opportunity, banks and credit unions contribute to public safety, drive economic development, and empower entrepreneurs to shape a prosperous future.
Why serve Cannabis THC and Hemp Businesses?
Break the cash-intensive cycle and promote public safety by serving legal Hemp and Cannabis THC businesses nationwide, regardless of your institution's state-level cannabis legalization status.
Cultivate Non-Interest Income
Unlock nationwide opportunities for non-interest fee income, fueling your institution's financial growth
Unlock Lending Opportunities
Seize high-yield lending opps, capitalizing on in-demand loans including equipment financing, SBA, and commercial lending
Maximize Fee Earnings
Tap into the potential of strong and mutually beneficial relationships to unlock lucrative fee income opportunities
Maximize Returns with Strategic Alliances
Deliver operational solutions for these businesses and earn "free" fee income through strategic partnerships
Stay Ahead of the Curve
Serving these industries demonstrates financial institution's foresight, staying ahead of trends and community needs
Diversify Revenue Streams
Serving the cannabis and hemp industry allows FIs to diversify their revenue streams, reducing reliance on traditional sectors
Industry Stats
Common Cannabis THC & Hemp Industry Participants
Cultivators
Manufacturers
Dispensaries
Ancillary Services
The Tools You Need to Make Compliance Easy
Our comprehensive tools and expertise assist financial institutions in efficiently addressing the unique BSA/AML demands posed by providing financial services to Cannabis THC and Hemp businesses, enabling you to stay compliant without unnecessary headaches.
Applicant Insights
Complex business models require robust information. RiskScout's Cannabis THC & Hemp applications deliver the insights you need to ensure the applicant is an ideal fit for your institution in a way you can easily understand.
Automate Your First Look
Take the guesswork out of vetting with our due diligence FirstPass reports. RiskScout verifies business claims, ensures licensing compliance, and detects red flags to help you make streamlined and informed risk-based decisions.
Automate Recurring Due Diligence Collections
Get rid of the hassle of collecting recurring due diligence information manually. RiskScout's Checkpoints enable you to gather information directly from your Cannabis THC and Hemp clients, simplifying the process and saving you time.
Stay Informed, Mitigate Risk
RiskScout's Variance Tracking empowers your financial institution to proactively monitor the alignment of revenue and inflows within your Cannabis THC portfolio, mitigating potential risks and ensuring business transparency.
Case Management & SAR Tracking
Streamline compliance with RiskScout's tailored case management and SAR tracking tool for THC Cannabis. Ensure seamless adherence to FinCEN SAR filing requirements, efficiently track information, and simplify your compliance strategy with our intuitive interface and advanced SAR decisioning features.
Request Free Advisory Session or Demo
We love to talk new markets and compliance. Contact us for a free advisory session or demo.