September 9, 2021
NASHVILLE, TENN. AND LOS ANGELES (PRWEB) Today, CRB Monitor, the nation’s leading cannabis corporate intelligence provider, and PayQwick, the leading payments and financial services platform for the emerging cannabis industry, announced a new partnership. Collectively, the firms will bring best-in-class cannabis payment solutions to clients by expanding the tools and infrastructure needed by banks and financial institutions to manage CRB portfolio risk exposure and meet regulatory expectations effectively.
The new alliance will combine industry-leading technology, data, and cannabis expertise to give clients greater capabilities to reduce cannabis-related risks through more efficient on-boarding via CRB Monitor’s independent, third-party validation and monitoring database. In partnering with PayQwick, clients using CRB Monitor’s database will be able to verify that cannabis transactions are compliant with AML/BSA standards.
The new partnership increases PayQwick’s speed for due diligence and on-boarding of CRBs and enhances real-time individual transaction monitoring. By combining CRB Monitor’s data and PayQwick’s treasury and payments platform, the new alliance will ensure greater confidence, security, and soundness for clients of cannabis and financial institutions.
“We are excited to help support PayQwick’s platform to facilitate faster and more complete financial services to CRBs and enhanced compliance monitoring for financial institutions,” said Steven Kemmerling, CEO, and founder of CRB Monitor. “In light of continued CRB industry and portfolio growth, we’re pleased to deepen our presence in supporting cannabis payments and banking and are confident that PayQwick’s clients will find our ability to more effectively and efficiently manage risk invaluable.”
“Our partnership with CRB Monitor extends PayQwick’s automation capabilities to determine the viability of cannabis transactions to meet the exacting federal and state BSA, AML, and KYC regulations,” said Bob Craig, PayQwick’s CEO. “By integrating the CRB Monitor API into PayQwick’s platform, we can validate cannabis payments in real-time and scale our business across the United States. The CRB Monitor integration extends our mission of delivering innovative solutions to help clients achieve normalized treasury and payment solutions through the PayQwick platform,” he said.