The Partnership Will Bring a Customized Banking and Payment Processing Services to the CBD and Cannabis Business Owner.
Monarch Technologies, Inc. (Fintech), a fully licensed Money Transmittal Service Provider, announced today that it has partnered with industry leader and pioneer 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.
Currently, Monarch Technologies is a Fintech Banking Platform, serving businesses as well as City and Governmental Agencies/Regulatory compliance entities. Monarch was built after years of industry research from state, city and governmental agencies that were frustrated with lack of compliance and thousands of past due tax payments.
“We are proud to add Canna Group Consulting LLC to our network as a trusted and valued business partner,” said Christian Fea, Fintech CEO.
“Their top-tier group of consultants and support team pairs perfectly with Monarch Technologies’ desire to provide cutting-edge, strategic marketing solutions in an industry that has been under served.”
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.
CBD, Hemp and Cannabis Banking Solution
According to Mr. Fea, 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 a 40 banks and credit unions in multiple states, Mr. 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.
Cannabis Banking Products
Currently, 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://calendly.com/monarchapp/platformdemo
About Canna Group LLC:
At Canna Group LLC, merchants will find a committed team of experts ready to help their business succeed by giving them the ability to accept credit cards – no matter what business they are in. They are leaders in the field and have been helping merchants improve sales and customer satisfaction since 1992.