Home American fashion company Green Check Verified partners with Evergreen Annuity & Life

Green Check Verified partners with Evergreen Annuity & Life

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BONITA SPRINGS, FL, Sept. 29, 2022 (GLOBE NEWSWIRE) — Green Check Verified (GCV), the leading fintech provider of cannabis-compliant banking solutions and services, today announced a partnership with Evergreen Annuity & Life Co. (Evergreen), a life insurance and annuity company engaged in cannabis-related financial services. This partnership will allow cannabis-related businesses (CRBs) on the GCV platform to have access to the insurance and annuity solutions offered by Evergreen.

The United States has seen legal cannabis sales increase from $12.1 billion in 2019 to $33 billion in 2022. However, life insurance and annuity companies have remained hesitant to underwrite those in the industry, in part due to marijuana’s status as a Schedule I controlled substance. Through this partnership, existing GCV customers will have access to Evergreen’s suite of products, in a compliant and legal manner. Evergreen will now have access to full use of GCV’s compliance rules engine, ensuring it meets all regulations.

Evergreen is bringing the first cannabis-friendly wealth management products to market using the established state-regulated insurance ecosystem: empowering incumbents to use new and innovative wealth management tools to stay competitive, empowering marginalized entrepreneurs to also diversify their assets as they grow, access and protect their wealth using insurance products, and help established cannabis businesses offer traditional employee benefits an easily understood and commonly used way.

“The cannabis industry has seen phenomenal growth over the past year, and with increased access to technology solutions and banking programs like what GCV offers, it will continue to be propelled forward,” said Paul Chesek, Chief Growth Officer of Green Check Verified. “By partnering with Evergreen, we can now offer our CRBs the tools to secure competitive insurance and annuity products, ensuring they are protected. Going forward, we will continue to offer these businesses the ability to take advantage of other financial services that they would not typically have access to.

GCV started as a convenient way for cannabis businesses to find a financial institution willing to work with them. Over time, the GCV ecosystem has expanded to a much broader set of financial and business services, from their recent acquisition of PayQwik to the announcement of their marketplace initiative. This partnership with Evergreen continues GCV’s journey to become the premier one-stop-shop for all cannabis-related financial services.

“We are thrilled to partner with Green Check Verified, the only company in the industry with the right mix of customers, financial institutions and technology to fulfill our mission of protecting cannabis entrepreneurs and their employees,” said said Jasnik Parmar, Founder and President. of Evergreen Annuity & Life. “We are committed to taking cannabis financial services to a new height, and GCV is the perfect partner to grow our program and empower entrepreneurs while remaining compliant.”

GCV has 112 US banks and credit unions as partners and is on track to exceed the number of sales processed within its platform in 2021. GCV was also recently ranked as the third best place to work in Fintech in 2022 by American Banker and won the Leader’s Top Compliance Award at this year’s Payments, Banking & Compliance Conference held recently in Washington, DC.

About Green Check Verified

Green Check Verified (GCV) is a regulatory software and services company founded in 2017 by a team of technology, banking and regulatory experts. GCV focuses on the intersection between community banking and the emerging legal cannabis industry and aims to provide the services and tools necessary to connect these two industries in a compliant and profitable manner. For more information about Green Check Verified, visit www.greencheckverified.com.

About Evergreen Annuity & Life Co.

Evergreen Life & Annuity Co. is the first cannabis-friendly life insurance and annuity company. Utilizing the regulated insurance ecosystem established by the state, Evergreen’s products enable cannabis entrepreneurs, employees, and financial institutions to grow, access, and protect their capital. For more information, visit www.evergreenannuity.com.