As the legal cannabis industry continues to grow, financial solutions become increasingly crucial. The sector's growth and newness pose challenges for financial services providers. Kevin Hart, CEO of Green Check, acknowledges these dynamics.
CTrust recently announced a new collaboration with Green Check, augmenting Green Check’s cannabis financial solutions marketplace with built-in credit scoring for cannabis businesses seeking financial products to support their operations.
In an interview with Kevin, we discuss Green Check's commitment to transparency and reliability in assessing risk within the cannabis sector. The Green Check Connect marketplace facilitates direct banking relationships for cannabis operators, contributing to transparency and growth. Hart sees the recent partnership between Green Check and CTrust as enhancing transparency, providing cannabis businesses with access to credit agencies like any other industry. The collaboration aims to empower cannabis businesses and improve risk understanding for financial institutions.
How does the integration of CTrust's credit scoring align with Green Check's overall mission to provide financial solutions for the cannabis industry? How do you see this collaboration impacting the accessibility of financial services for cannabis businesses?
There isn't an industry with as much explosive growth and CAGR in current markets as cannabis. However, it is still a very new industry, especially for financial services providers. Our bank and credit union partners want to lend, but with that newness and market variability any reputable firm that is offering capital has to hedge their positions, assessing the financial health of any particular business. By utilizing market data, trend lines, peer analysis, pricing models and good ol' fashioned business underwriting, a firm like CTrust is going to open new doors, better value-based doors, for the industry.
In the context of Green Check Connect marketplace, how do you envision the partnership with CTrust contributing to a more transparent and reliable evaluation of risk for both cannabis businesses and financial institutions?
The answer is in the name, CONNECT. Any cannabis business that wants to grow and scale will need to know where they stand. Since Green Check is already enabling thousands of direct banking relationships for cannabis operators with banks, why shouldn't these operators have the same opportunity as any other business via any of the current big three credit agencies? The CTrust capability supports and enables those growth initiatives.
Given the dynamic nature of the cannabis industry, how does Green Check stay adaptable to emerging trends and regulatory changes, and how does the addition of CTrust's credit scoring enhance your marketplace's ability to navigate these shifts effectively?
We have always been a fintech company that focuses on compliance. That is how we launched. We don't just talk about it, we live it and love it. We monitor the markets, the rules, the money movement, the trend lines of the entire industry to help each single cannabis business run their business more effectively. We have a team of folks dedicated to reviewing all the various rules and regulations of cannabis state programs (for implications on banking and servicing the industry) and then making sure those requirements are codified within our platform – all to help the cannabis industry have access to the financial services they need to grow and expand. CTrust is similarly minded in helping the cannabis industry grow, taking it to this next level of credit status to help expand access to financial services even further.
It was a great pleasure to have this conversation with Kevin Hart. Readers who wish to learn more about how Green Check is transforming the cannabis industry in terms of financial solutions are invited to check their website.
Full details about the partnership between Green Check and CTust are available in the press release: https://www.prweb.com/releases/ctrust-and-green-check-partner-to-create-integrated-company-credit-scoring-within-green-checks-cannabis-financial-solutions-marketplace-301999593.html