Episode 12 – Introduction to Cannabis Banking with StandardC
In this episode, we chat with Robert Baron, Chief Experience Officer at StandardC, about cannabis banking. We discuss where the state of cannabis banking is currently at and how the Safe Banking Act impacts cannabis banking. We discuss the tension between growing a customer base and navigating the challenges of cannabis banking. We also chat about how it is even more important now for banks to know their customers’ customers in this current landscape. And finally we talk about the risks of cannabis banking and how to mitigate those risks with technology and automation.
StandardC’s mission is to enable access to banking and insurance for cannabis-related businesses based on data, not bias. Despite overwhelming consumer and state-level support, cannabis-related businesses and their service providers are routinely denied access to a broad range of financial services due to compliance & reputational risks, operational complexities, and extraordinary regulatory scrutiny. The StandardC platform mitigates these challenges, providing the legal cannabis business ecosystem with secure, scalable, and cost-effective access to traditional banking and insurance services. The StandardC platform provides banks with a network to protect against bad actors and improve and automate initial and ongoing due diligence and compliance. For more information, please visit: https://www.standardc.io