Monarch Technologies, Canna Group Consulting Partner For Banking Services
Monarch Technologies, Inc. (Fintech), a fully licensed Money Transmittal Service Provider, has partnered with Sami Spiezio, founder/president of Canna Group Consulting LLC Merchant Group, a consulting group that represents independently-owned acquisitions and payments offices across the country.
The intention of both Monarch and Canna Group is to reduce the risks involved for Hemp/CBD/THC/MMJ Medical Physicians and medical marijuana business owners. The Monarch platform is also fitted for financial institutions to successfully underwrite, on-board and provide continued compliance and taxation services to farmers, growers, supply chain, distribution, wholesale, manufacturing and dispensary initiatives.
According to Christian Fea, Fintech CEO, a growth explosion has erupted in the cannabis space to provide business owners with a safe and cost-effective banking solution that cannabis business owners can legally and consistently transport, deposit and transfer their cash from bank to bank. A high degree of opportunity exists in this industry. In addition, he said, the banking system is extremely slow to adapt. The Monarch platform will assist these banks in building deposits by allowing fully licensed THC/CBD farmers, hemp growers, supply chain, distribution, wholesale, manufacturing and dispensary initiatives to open DDA accounts for legitimate business and cash management services.
Many state and federally chartered financial institutions are now just starting to put process and policy in place for boarding certain sectors of the THC industry. After talking to over 40 banks and credit unions in multiple states, Fea said it is clear that the need for a central underwriting, compliance and on-boarding platform is welcomed. Currently, these banks and credit unions don’t have the required platform in place to handle the needs of the THC industry. The Monarch platform seeks to provide the needed solutions for these banks to be able to board these merchants in an easy to use, compliant and scalable fashion.
These products include:
●Business Checking Accounts
●Online Banking
●Business Invoicing
●Escrow services
●Money Transfer
●Taxation Transmittal
●Shopping Cart Integration
●Patient/consumer retail
●Full Cash Management services
●Track N Trace
●Inventory Management
●360 closed loop risk/compliance management
To connect with Canna Group and the Monarch team and learn more about their services, please complete this form and someone will be in contact within 24 business hours: https://gethighrisk.wufoo.com/forms/wdbttty0ji621p/.
