Green Check Verified Joins Forces with Laika to Bolster Compliance in Cannabis Banking
New York, New York – January 26, 2021 – PRESS RELEASE – Green Check Verified (GCV), a regtech provider of compliant cannabis banking solutions, has announced a partnership with Laika, an enterprise-ready compliance platform, to provide financial institutions with an extra layer of compliance oversight in the rapidly-growing cannabis banking space.
Legal in 37 states, of which GCV is currently operating in 22, this $13B industry is of particular interest to banks and credit unions looking for low cost deposit growth, increased fee revenue and strong commercial partnerships with local business owners. As financial institutions increasingly capitalize on this huge market opportunity, GCV’s partnership with Laika will help streamline its own internal compliance and security programs, providing additional assurance for all Green Check clients and partners.
« Having led vendor risk management for one of the largest financial institutions in the world, I am in a unique position to help fast growing technology companies build scalable security practices, » said Eva Pittas, founder of Laika. « We’re excited to be working with Green Check Verified – their seasoned team of entrepreneurs coupled with its innovative regtech platform will be pivotal for FIs looking to enter the legal cannabis banking space. »
“At GCV, everything we do is hyper-focused on compliance,” said Kevin Hart, CEO of Green Check Verified. “We continue to identify ways to reduce risk and allow FIs to bank cannabis confidently and securely. By partnering with Laika, we are not only leveraging our internal regulatory technology expertise, but banks and credit unions will benefit from having the additional oversight from a third-party vendor, adding an extra layer of compliance associated with cannabis banking.”
Laika is an enterprise-ready compliance platform that enables growing companies to compete on the same level as any large organization. The collaboration between Laika and GCV empowers financial institutions entering the highly regulated industry of banking cannabis to satisfy internal vendor due-diligence requirements. Board and examiners are increasingly demanding that cannabis programs not only satisfy specific regulations but that individual firms showcase they are a fully compliant vendor, from top to bottom.