Simplifya and Shield Compliance Bring Critical Cannabis RegTech Market Data to Financial Institutions
Simplifya Market Guide Now Available to Shield Compliance Customers; Platform Provides Banks and Credit Unions with Real-Time, Comprehensive Regulatory Information for All 50 States
DENVER, Feb. 08, 2023 (GLOBE NEWSWIRE) — Simplifya, the leading regulatory and operational compliance software platform serving the cannabis industry, announced the availability of the Simplifya Market Guide for financial institutions working with Shield Compliance. Shield’s purpose-built Bank Secrecy Act (“BSA”) and Anti Money Laundering (“AML”) technology platform enables banks and credit unions serving the cannabis industry to manage compliance, onboard clients, and deliver payment solutions with greater efficiency and value to the financial institution.
“Simplifya Market Guide is a key component of the comprehensive toolset we bring to our bankers to ensure they are well informed and have access to the market data they need to launch and scale their cannabis banking programs,” said Shield Compliance President and Chief Executive Officer Tony Repanich.
Simplifya Market Guide is a next-gen automated solution for licensed cannabis operators and the businesses that serve them, providing comprehensive and user-friendly cannabis market summaries for all 50 states. The platform delivers a suite of regulatory overviews and key market information to Shield Compliance and its financial institution customers on topics such as: banking and lending guidance; tax structure and rates; requirements for investors; insurance guidelines; license types and structure; supply chain dynamics; governing law; policy movement; state insights and more.
“With many credit unions, banks, and lenders operating in numerous states with active cannabis markets, Simplifya Market Guide places up-to-date, comprehensive and easy-to-use regulatory and market snapshots in the hands of Shield Compliance financial institutions,” said Simplifya CEO and Co-Founder Marion Mariathasan. “Our collaboration with Shield Compliance will help financial institutions, service providers and lenders save time and money and better manage risk and uncertainty, while improving the financial transparency of marijuana-related businesses – all of which are incredibly important to the health of this sector, particularly during this time of economic downturn.”
Simplifya General Counsel and Chief Banking Officer Katrina Skinner added, “Financial institutions that provide services to marijuana-related businesses must demonstrate they know the cannabis markets in which they operate and that their customers are complying with applicable cannabis rules and regulations. Because each state’s rules and regulations are different, and because the cannabis industry is constantly changing, staying apprised of developments is tough when you are tasked with preventing illicit funds from flowing into your institution. Simplifya Market Guide is designed to provide quick access to critical marketplace information, including summaries of important rules and regulations, as well as marketplace and policy developments. Having access to this information in one place within the Shield Compliance platform will help front-line financial service providers keep their eyes on the money and their own internal compliance programs. Eligible Shield Compliance financial institutions can now access regularly updated state-by-state marketplace snapshots, get alerted to any new regulatory changes or updates, and access information in a quickly accessible, digestible format. Simplifya Market Guide is not only an invaluable compliance tool but also a key business development tool for those financial institutions expanding their service reach.”
About Simplifya
Simplifya is the cannabis industry’s leading regulatory and operational compliance software platform; our suite of products takes the guesswork out of confusing and continually changing state regulations. Featuring SOPs, badge tracking, document storage, tailored reporting and employee accountability features, our Custom Audit software can reduce the time you spend on compliance by 45 percent. For more information, visit www.simplifya.com.
About Shield Compliance
Shield Compliance transforms how financial institutions serve the legal cannabis market. Its purpose-built BSA/AML compliance management software solution sits behind the financial institution to simplify compliance, automate processes across multiple data sources, create efficiencies, unlock new revenue, and scale operations. For more information, visit www.shieldbanking.com or contact [email protected].
Media Contact:
Henry Robertson
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[email protected]
