Green Check is a leading provider of software solutions for financial and business services in the cannabis industry. Pulse 2.0 interviewed Green Check co-founder and VP of Knowledge, Paul Dunford, to gain a deeper understanding of the company.
Paul Dunford’s Background
What is Paul Dunford’s background? Dunford said:
“My background is in research, data, and compliance-heavy industries. I started my career in community healthcare in the Bronx, working in a highly regulated environment where I managed reporting at the city, state, and federal levels. That experience made me comfortable navigating complex regulatory frameworks – a key component of the work we do at Green Check, in high-risk industries like cannabis. Later, I moved into technology, working at a computer firm that installed point of sale (POS) systems at airports. That’s where I met Kevin Hart, my fellow co-founder and Green Check’s CEO. And the rest is history!”
Formation Of The Company
How did the idea for the company come together? Dunford shared:
“While working in the POS industry, Kevin and I were invited to California to develop a new system for a medical cannabis dispensary. After standing in the dispensary’s vault filled with millions of dollars in cash, it quickly became clear that the bigger issue wasn’t payment processing – it was access to banking. State-licensed cannabis businesses were struggling to secure financial services despite paying federal taxes and operating legally within their states. This gap in the market inspired us to create Green Check to provide financial institutions with the data and tools they need to offer compliant, scalable banking solutions to the cannabis industry.”
Favorite Memory
What has been your favorite memory working for the company so far? Dunford reflected:
“When our first financial institution partner went through their first regulatory exam, the stakes were as high as they could be, so we were quite anxious to hear how their regulator responded to their cannabis compliance program. This was the make or break moment for Green Check! When we found out that the regulator didn’t push back against their program we were ecstatic! But, in a way, we were also kind of disappointed because when the examiner asked for info about their cannabis compliance program they evidently gave it only a cursory glance – they flipped through the binder they’d prepared with their risk assessment, financial model, policies, and procedures, and that was about it. Then they just moved on to the next part of the exam without skipping a beat. Anticlimactic! Still, that set us up for where we are today.”
Challenges Faced
What challenges have Dunford and the team face in building the company? Dunford acknowledged:
“One of the biggest challenges we face comes down to education. There remains a misconception that FIs must wait for federal legislation like the SAFER Banking Act before they can serve cannabis businesses. In reality, no regulatory agency has penalized a bank or credit union for providing compliant services to the cannabis industry. To overcome this stigma, we spend a lot of time providing industry stakeholders with the information they need to move forward, bolstered by confidence through data.”
Core Products
How has the company’s technology evolved since launching, and what are the company’s core products and features? Dunford explained:
“Since our launch in 2017, Green Check has continuously evolved beyond cannabis banking into a full financial and business enablement platform that serves as the fintech connector to power commerce for an entire ecosystem of cannabis businesses (CRBs), financial institutions (FIs) and service providers. We began by making compliant banking more accessible, connecting financial institutions (FIs) and cannabis-related businesses (CRBs) through a streamlined, technology-driven solution. As the industry’s needs grew, so did our platform – including recent expansion into supporting CRBs in sovereign nations, helping address financial service gaps on Indigenous lands. Today, we go beyond banking to facilitate lending, payments, cash logistics, and business services, ensuring CRBs have the tools they need to thrive, expand, and operate with complete compliance.”
“Data is at the core of what we do – we provide insights down to the single dollar level to ensure that FIs have what they need to compliantly and profitably serve the cannabis industry. We’re proud to have an entire suite of solutions under the Green Check umbrella to power the future of commerce for high-risk industries, such as cannabis.”
“One of our key offerings is Green Check Connect, an industry-first marketplace that bridges the gap between CRBs, FIs and other service providers. By providing nearly 13,000 CRBs with access to a network of providers, Green Check Connect simplifies the process of securing compliant financial services. The platform also enables FIs to efficiently scale their cannabis banking programs, offering tools and insights needed to manage risk, expand portfolios, and deepen relationships with CRB clients.”
“Another one of our offerings, Green Check Access, expands these capabilities by providing a unified cannabis API solution designed for both new market entrants and established businesses. By integrating essential financial, compliance, and operational services into a single access point, Green Check Access enables businesses to streamline banking, payments, cash logistics, and lending, helping CRBs and service providers accelerate growth while ensuring regulatory compliance.”
“In addition, our Portfolio Management feature offers financial institutions comprehensive visibility and actionable insights to strengthen their cannabis banking programs. This innovative module provides a macro-level view of program-wide key performance indicators (KPIs), coupled with a powerful analytics layer that delivers tailored insights and recommended actions. Financial institutions can access portfolio and account-level valuations, key risk and opportunity indicators, sales and transaction trends, industry-wide peer group comparisons, and state-by-state forecasts by license type.”
“Our suite of tools empower FIs to effectively manage and expand compliant cannabis banking programs, while boosting profitability. By providing real-time financial transparency, Green Check helps keep good money in and bad money out, protecting both businesses and financial institutions while fostering a more secure and efficient cannabis economy.”
Customer Success Stories
When asking Dunford about customer success stories, he highlighted:
“A specific partner that comes to mind is Coast Central Credit Union (CCCU), which Green Check has worked with to support their ability to successfully serve the legal cannabis industry while maintaining strict compliance standards. CCCU selected Green Check for our robust compliance management capabilities, seamless integration with existing operations, and deep industry expertise. Through this partnership, CCCU has been able to efficiently monitor transactions, conduct thorough due diligence, and ensure ongoing adherence to complex state and federal regulations. With our platform, their team has been able to scale its cannabis banking program while maintaining the high level of regulatory oversight required.”
“The partnership not only streamlines operational processes, but also enhances the member experience by providing faster, more reliable access to banking services. As one CCCU member shared, “We appreciate Coast Central Credit Union and Green Check for all the hard work! Teamwork making the dream work. Always great customer service and support navigating this complex industry.” Hearing this kind of feedback is incredibly rewarding, and it reaffirms our commitment to serving our customers effectively!”
Differentiation From The Competition
What differentiates the company from its competition? Dunford affirmed:
“Green Check stands out as the trusted fintech connector for the cannabis financial ecosystem, directly linking CRBs with FIs and financial and business service providers. With a network of more than 170 FIs and nearly 13,000 CRBs, we go beyond just software by offering deep compliance expertise, dedicated industry experts, and hands-on support to help businesses and financial institutions navigate the complexities of the cannabis industry safely. Our platform facilitates compliance monitoring, banking partnerships, and educational resources, ensuring that every dollar is tracked, risk is managed effectively, and businesses can operate with confidence in a rapidly evolving market.”
Future Company Goals
What are some of the company’s future goals? Dunford concluded:
“We’re focused on expanding financial inclusion for cannabis businesses in underserved regions, continuing to grow our network of banking partners, and developing new tools that make compliance and business banking even easier for cannabis operators. Additionally, we’d like to expand our services to include businesses operating in other high-risk industries. By enabling FIs to monetize niche markets effectively and compliantly, we can drive a whole new era of commerce.”
