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Financial technology company Green Check Verified, which has an office in North Haven, has launched a marketplace to help cannabis-related businesses identify service providers to meet their financial and business needs, including banking, lending, insurance, human resources, payroll and cash logistics.
Green Check Verified, a provider of cannabis banking compliance technology and services, said in a statement last week that it had launched the marketplace, Green Check Connect, to assemble a network of cannabis-friendly companies to give cannabis-related businesses access to reliable and cost-effective service providers.
“While the inaccessibility of reliable banking services is a widely recognized impediment in the industry, cannabis-related business (CRBs) are vastly underserved across a sweeping spectrum of business and financial services,” the statement said. “Although more service providers are entering the market as the industry matures, limited offerings and exploitative pricing models remain commonplace.”
Through Green Check Connect, financial institutions that are clients of Green Check Verified will have access to cannabis-related businesses that need financial and business products and services.
“As a longtime client, I am thrilled that Green Check is launching a marketplace for cannabis-related businesses like mine,” Ray Pantalena, registered pharmacist and owner of Affinity Health & Wellness in New Haven, said in the statement. “Having a centralized marketplace of reputable and fair companies eager to work with cannabis businesses is a game changer for the industry.”
The Green Check Connect platform will use intelligent matching technology to provide cannabis businesses with options based on product or service fit, location, price and other factors, the statement said.
Green Check Verified has also launched other new products and services recently, including an advanced insights feature, that looks for out-of-norm customer behavior, and an updated account monitoring service that provides visibility into direct and indirect cannabis customer activity.
“Our product team, led by Cherie LaFlamme, has been firing on all cylinders striving to provide innovative, market-driven solutions that deliver real impact to our users,” Mike Kennedy, Green Check Verified co-founder and chief strategy officer, said in the statement. “We’re confident that Green Check Connect will dramatically reduce the time, effort, and cost businesses expend searching for, vetting, and acquiring the services they need to grow.”
