Green Check Verified

Green Check Verified operates as a specialized fintech provider, offering a regulatory software and services platform to bridge the gap between the cannabis industry and financial institutions. Founded in 2017 by Kevin Hart, Paul Dunford, and Michael Kennedy, the company was born out of the recognition of the significant banking challenges faced by legally operating cannabis businesses. CEO Kevin Hart, with four decades of experience in enterprise software, including leading companies to IPOs and successful exits, was initially exploring a point-of-sale system for the cannabis sector when he identified the more critical need for compliant financial services. This led to a three-year development period before any code was written, focusing on understanding the complex regulatory landscape.

The company's core offering is a technology platform that facilitates compliant banking for cannabis-related businesses (CRBs) by connecting them with a network of over 175 banks and credit unions. For cannabis businesses, which now number over 14,000 on the platform, access is typically free. These businesses can find services like business banking, commercial loans, insurance, and payroll. The business model generates revenue from the financial institutions, which pay a monthly fee per cannabis account on the platform and through revenue sharing based on the flow of dollars. Green Check's software provides continuous analysis of sales and inventory data against regulatory limits, automates transaction monitoring, and streamlines reporting to ensure every transaction complies with state regulations and bank policies, thereby reducing risk for the financial institution.

Beyond its core software, Green Check provides expert advisory and consulting services to financial institutions. This includes helping them develop and launch robust cannabis banking programs, creating financial models to project revenue, defining policies and procedures, and establishing go-to-market strategies. This comprehensive support system empowers banks and credit unions to enter the cannabis market, a sector valued at over $100 billion, with confidence. The company has demonstrated significant growth, processing over $1 billion in monthly cannabis sales deposits in 2024. To expand its capabilities, Green Check has made strategic acquisitions, including PayQwick, a cannabis payments and lending company, and Komplyd, a compliance-as-a-service platform, to better integrate seed-to-sale data and facilitate a broader range of real-time financial transactions.

Keywords: cannabis banking, fintech, regulatory compliance software, cannabis financial services, regtech, high-risk banking solutions, cannabis business banking, compliance-as-a-service, cannabis lending, cannabis insurance, payroll for cannabis, marijuana banking, Bank Secrecy Act compliance, cannabis payment solutions, seed-to-sale data integration, financial modeling for cannabis, cannabis risk management, CRB banking, cannabis compliance technology, FinCEN guidance