Kevin Hart, founder and CEO of Green Check, is reshaping the banking landscape for the cannabis industry. With 40 years in enterprise software and a history of successful business ventures, Hart established Green Check in 2017 to address the challenges cannabis businesses face in accessing traditional banking services.
Green Check operates as a FinTech company that facilitates connections between cannabis businesses and financial institutions. Currently, it collaborates with over 180 financial institutions and supports more than 14,000 cannabis-related businesses across the United States. The firm’s technology emphasizes compliance, providing a necessary framework for cannabis operators to secure banking services despite federal restrictions on the substance.
Hart recognized early on that the cannabis sector was underserved by traditional banking. He saw that while cannabis remains illegal at the federal level, the banking services for cannabis businesses do not have to be. This distinction has allowed Green Check to focus on educating financial institutions and facilitating their entry into the cannabis market. The company has created a compliance-first system that helps financial institutions manage risk while serving cannabis clients.
Green Check’s platform enables cannabis operators to connect with various financial products and services, extending beyond just basic banking relationships. Hart states that having a bank account is only the starting point; the real value lies in the comprehensive suite of financial services that can be offered to cannabis businesses.
The company has demonstrated its impact by processing over $1 billion in sales deposits monthly for cannabis clients. This statistic highlights the growing scale of the cannabis market and the potential for financial institutions to profit by engaging with this rapidly expanding sector.
Hart emphasizes the importance of compliance in the cannabis industry, noting that operators must maintain demonstrable compliance to build trust with financial partners. Green Check’s technology provides a scalable solution that helps cannabis businesses navigate complex regulatory environments, ensuring they can operate within legal frameworks while accessing necessary financial services.
Looking ahead, Hart envisions a future where every financial institution in the U.S. serves the cannabis industry. He believes that the current barriers to banking for cannabis businesses can be dismantled through greater awareness and improved compliance solutions. Hart advocates for the passage of the SAFE Banking Act, which would allow more financial institutions to offer services to cannabis businesses, thereby increasing access to capital and improving cash flow for operators.
Green Check has received multiple awards for its contributions to compliance innovation and workplace culture, reflecting its commitment to building a supportive environment for employees while meeting the demands of an evolving cannabis market. Hart’s approach combines a strong foundation in technology with a dedication to improving the financial landscape for cannabis businesses, positioning Green Check as a leader in cannabis banking solutions.
As the cannabis economy continues to grow, the need for reliable banking services becomes increasingly critical. Kevin Hart’s vision for Green Check is not just about connecting cannabis businesses with banks; it’s about establishing a transparent, inclusive financial ecosystem that supports the industry’s future. With plans for expansion and a focus on compliance, Green Check is poised to play a pivotal role in the further integration of cannabis into the financial mainstream.
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