The Cannabis Industry
The cannabis industry faces changing regulatory issues and related companies must be flexible in the way they approach banking, reporting and security. Banks who work with these businesses know it is not a simple matter to maintain compliance for them. They need tools to stay ahead of cannabis-related compliance issues and efficiently process the high volumes of cash deposits from their customers.
Absolute Systems offers a compliance platform that combines oversight of licensing requirements and transactional data with the high level of scrutiny required in this industry.
Absolute Systems
High cash
The large volume of cash puts pressure on cannabis distributors and dispensaries as well as the financial institutions that service them.
Risk & compliance
Staying in compliance and being able to manage risks around inventory, cash payments and bank accounts puts unusual pressure on this industry.
Risk & compliance
Staying in compliance and being able to manage risks around inventory, cash payments and bank accounts puts unusual pressure on this industry.
Onboarding Due Diligence
High risk merchant categories require Enhanced Due Diligence (EDD), account monitoring and ongoing KYC processes.