Streamlined Cannabis Compliance Monitoring
The FinCEN Cannabis Banking Guidance requires that any financial institution with customers in the cannabis industry ensure that their MRB clients are operating in compliance with state law. While critical to operating in the industry, fulfilling this requirement can result in significant financial burdens and dramatically increase the cost of banking the cannabis industry. This increased compliance cost, as it relates to both time and personnel, is often seen as an insurmountable hurdle for many financial institutions.
With Simplifya you can rest easy knowing that our team of highly skilled analysts and technical writers create accurate and easy to understand checklists that are derived directly from the state and local regulations. Simplifya’s dedication to detail ensures that licensed operators have the tools to proactively maintain and manage their compliance with state regulations…which in turn, ensures that you, as the financial institution, are maintaining your compliance with the FinCEN Guidance.
Additionally, our newest service offering, Simplifya Verified provides ancillary service businesses – including financial institutions, insurance carriers and more – with an independent system to verify the status and validity of cannabis licenses across the country.
Our dedicated team of cannabis regulatory analysts convert state and local regulations into a seamless audit checklist tailored to your client’s business. You get peace of mind knowing that you’ve covered all the bases with regard to operational compliance, and your client is protected when they get a visit from the regulatory agency. Regularly scheduled audits can keep your client’s licenses in good standing and could save thousands in fines or penalties.
Our SOPs feature allows your clients to easily create, update, and track all versions of their Standard Operating Procedures in accordance with state requirements. We also make it easy for them to assign their SOPs to specific employees, track the progress, and maintain a comprehensive record and history of compliance with regard to SOPs.
We’ve also created a library of regulation-based SOP templates to jump-start your clients’ license application or renewal, and help establish best practices for maintaining operational compliance. They can save the templates they need and customize them for their business’s specific needs..
We’ve made a list of all the documents the state requires your client to have on file. Smart Cabinet allows them to easily store all of the required documents in a single, organized location. They can also set up reminders for future uploads, manage user access for each document, and access these documents anywhere they have an internet connection.
If it has an expiration or renewal date, License Tracker has your client covered. Easily track, manage, and store all relevant documentation for your clients’ licenses. From state-issued licenses all the way down to fire extinguishers, License Tracker makes sure they never miss a renewal.
Quickly verify the status and standing of any license with the appropriate state agencies through our online license verification service. Simplifya Verified collects license data from regulatory agencies overseeing legal cannabis markets and confirms the status and standing of each license holder with their state oversight agency.