Risk and compliance has become one of the highest costs that financial institutions
face in today’s environment. The cannabis
market adds even more complexity due to its rapid growth and changing regulations. Banks and credit unions who want to service this industry realize the importance of staying compliant with examiners’ requirements, but often struggle to keep up. Scaling up by increasing FTE is expensive, so they need automated processes that avoid error and omission and integrate with other systems for reduced labor requirements.