Exclusive: The Value of Cannabis Banking


Tuesday, October 6, 2020, 11 AM PT | 60 Minutes

As familiar sources of funding become less readily available and interest revenue declines, many financial institutions are seeking new and innovative approaches to growth. Despite the economic climate, one industry that is continuing to set records is the legal cannabis industry - which also happens to be dramatically underbanked. Launching a compliant cannabis banking program is a compelling opportunity for institutions looking to access low-cost deposits, generate non-interest fee revenue, and provide much-needed services to the businesses in their communities.

Join Ruth Razook, Founder & CEO of RLR Management Consulting Inc and Jen Saylor, Green Check Verified's Compliance Strategist as they present how your institution can safely bank cannabis and a real financial model of an active cannabis banking program. This session will explore the revenue opportunities, as well as costs and considerations of launching a new cannabis line of business for your bank.

Ruth and Jen will discuss:

  • How your bank can safely bank cannabis
  • Realistic goals and revenue projections
  • Pricing and product mix
  • Direct and indirect revenue streams

Presented By

Ruth Razook

Founder & CEO

RLR Management Consulting Inc

Ruth L. Razook founded RLR in 1988 to serve community banks primarily in the southern California region. RLR is now a nationwide consulting firm focused on providing high quality consulting assistance to financial institutions in the areas of corporate strategy, organizational analysis, operations and project management, information technology and payments.

Ruth has conducted engagements for RLR’s clients for more than 30 years including over 50 start-up banks. She has managed SOX engagements, the relocation of a data center from northern California to southern California and a multitude of other projects. Ruth works closely with Bank management teams and Board of Directors.

Read Ruth's full bio here.

Jen Saylor

Compliance Strategist

Green Check Verified

Jen is an experienced Operations, Risk, and Compliance Executive with over 20 years experience in the banking industry. Jen specializes in compliance, risk management, operations and technology, with a focus on process improvement, enterprise-wide best practices, and program design and implementation. Jen has extensive experience with architecting new lines of business from the ground up, including those servicing cannabis industry. At Green Check, Jen plays a leading role in helping financial institutions design, launch, and scale successful cannabis banking programs.

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