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CompanyProfile S Spotlightpotlight I Innovatorsnnovators

Comprehensive network

for cannabis banking

ince its inception in 2017, Fincann has been
building the Cannabis Banking Financial
Network, a comprehensive alliance of indus-
S try-friendly financial institutions and acquir- ISO/MLS contact:
ers. Led by Nathaniel Gurien, Fincann CEO and founder,
the network works with more than 150 federally insured Nathaniel Gurien, CEO
institutions with thousands of branches throughout the nathaniel@fincann.com
United States. Gurien founded Fincann in response to
the cannabis industry's need for compliant, sustainable https://fincann.com
and transparent commercial banking, payment process-
ing and financial services. The banking network is active 212-724-7777
in all 50 states, providing B2C and B2B banking, ecom-
merce and credit services to industry-compliant opera- odic FinCEN reports of marijuana-related SARs filings,
tors across all cannabis industry sectors, he noted. he added. "As an industry resource, and to provide an ac-
Ethical standards curate counterpoint, effective January 2021, Fincann will
publish on its website our official cannabis-friendly fed-
Headquartered in New York City, Fincann has steadi- erally insured bank counter, with the current actual num-
ly expanded its footprint while adhering to its original ber of U.S. banks supporting the industry, broken down
guiding principles, which Gurien summarized as follows: by sector and featuring free real-time email updates," Gu-
"To promote a company and industry standard of the rien said.
highest levels of compliance, transparency, and report- Comprehensive suite of services
ing as directly proportional to operational sustainabil-
ity. Fincann provides its growing network of partners with
"To provide a high-profile authoritative counterpoint access to new markets and clients, uniquely needed re-
to the breathtaking level of prevailing misinformation sources with high revenue share and added value for ex-
isting solutions, Gurien stated. The company works with
and lack of accurate information, data, and metrics re-
lating to cannabis banking issues." ISOs, merchant level salespeople (MLSs), and assorted
payments enterprises that specialize in cannabis indus-
try compliance, products and services. Together with its
In addition to Gurien, Fincann's management team con- channel partners, the company provides a comprehensive
sists of Tahlia Fagan, director of banking services; Bill
Walden, director of merchant services; Dave Thompson, suite of banking and financial services, which includes
industry-friendly, full-service bank accounts, according
director of underwriting and risk; and Diane Gurien, of-
fice manager. to company representatives. In addition to compliant B2C,
B2B and online payment processing, Fincann provides
Industry knowledge industry-friendly working capital, asset-based financing,
insurance, payroll and other financial services to can-
Gurien pointed out that Fincann's complete suite of bank- nabis industry stakeholders. Turnkey cannabis industry
ing and financial services is unparalleled in the cannabis consultation and advisory for financial institutions and
industry. After being repeatedly rebuffed by numerous fintechs seeking to better understand and/or support the
banks, the company prevailed, pushing back against ram- industry are also available, the company stated.
pant misinformation and executing on objectives.
Regulatory navigation
"In 2017, on behalf of a Nevada client seeking transparent
banking, we contacted every one of the 50 banks in that Looking at Fincann's near-term road map, Gurien said the
company will continue to help cannabis industry stake-
state simply to offer a complimentary 'no-obligation' over-
view of the risks and opportunities of cannabis banking," holders by "offering a steady hand on the tiller through
the cannabis industry's next five years of stormy regula-
Gurien recalled. Recognizing that most objections were
based on feelings and not facts, Gurien chose to ignore tory seas." Top on the agenda will be helping to create a
transparent, compliant and bulletproof B2C major card
their "pretexts and rationalizations" and focus on evolv-
ing their perceptions, which led to extraordinary suc- network and B2C payment solution for cannabis licens-
ees, he added. "One of our great pleasures, among many,
cesses, he stated. One example of misinformation about
cannabis banking is the notion that more than 600 banks of having the privilege of working in this community is
the high level of collaboration and sense of common pur-
support the industry, Gurien noted. This oft-cited false-
hood is based on a prevailing misinterpretation of peri- pose that permeates it," Gurien said. "We're happy to call
it home."
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