The expanding cannabis industry poses challenges for institutions. Keeping up with changing regulations and the paced market demands expertise in cannabis banking. Qualified, unbiased online education companies offer tailored certification programs for banking professionals to navigate this landscape.
Unlike tech firms selling software, these educational providers prioritize thorough training. They cover aspects of banking such as regulatory compliance risk management, operational protocols and serving cannabis related businesses (CRBs). This holistic approach equips bankers with the skills to serve this market competently and, with the right certification, this training can achieve several distinct benefits.
First, obtaining a cannabis banking certification brings benefits and showcases a dedication to growth and proficiency in a developing industry. This can bolster a bank’s credibility by appealing to CRBs seeking a partner well versed in their specific requirements. Proprietary banking surveys by the Association for Cannabis Banking found that the top reason given by CRBs for switching primary banking institutions was “Lack of knowledge in helping with cannabis banking challenges or general interest in banking cannabis companies.” By taking the time to get certified by a dedicated online education force like the ACB, originators of the FIRST Cannabis Banking Professional™ (CBP™) certification in banking back in April 2020, it tells your prospective clients that you’re serious.
Next, CBP™ certification establishes an understanding of compliance regulations. The cannabis sector is heavily regulated at state and federal levels requiring knowledge of these laws to ensure compliance and avoid risks. As a result, certified bankers have the advantage when it comes to handling the unique risks associated with cannabis banking and can effectively address money laundering risks understand the ins and outs of cash intensive businesses and create solid risk management plans.
Finally, getting CBP™ certified can lead to business prospects. With the cannabis industry expanding institutions that have certified staff are, in a great position to take advantage of this growing market. They can provide services tailored to cannabis-related businesses attracting clients and broadening their customer base. For institutions looking to enter or expand in the cannabis banking sector, investing in CBP™ certification for their staff is crucial, as it not only boosts their reputation and expertise, it also helps manage compliance risk and unlock new business opportunities.
While there are many options for online training, the ACB Cannabis Banking Professional™ Certification is the right choice for hundreds of banks and credit unions:
1. Unbiased and transparent: ACB is an independent association dedicated to bridging the gap between financial institutions and CRBs. ACB does not bait customers by baiting with some training but really selling technology or other costly investments.
2. The ORIGINAL and FIRST industry certification: As mentioned previously, the original CBP™ was introduced under our BankersHub® and BankerCollege® businesses but because of the success of the certification, it has now become the cornerstone of the ACB launched it on stage at Money 20/20 2023 in Las Vegas. The original CBP™ contains 9 courses of training with over 11 hours of video education!
3. ACB launched its ADVANCE Cannabis Banking Professional Certification in March 2024!: On the heels of the success of the Foundational CBP™, the ACB just stepped up to the needs of the industry again with CBP-Advanced. This latest launch brings 9 new topics for the experienced professionals covering topics including Treasury Services for CRBs; Marketing Strategies for Cannabis Bankers, Cannabis Audit Best Practices, and more!
4. Getting ACE™ credits for courses: While there is NO agency associated with accreditation in cannabis education, despite proclamations from some tech companies, the ACB has introduce Accredited Cannabis Education (ACE) credits for training taken on the ACB Learning Management System. Earning these credits on our dedicated learning platform ensures that employees and their supervisors can also track progress, review test results and present employees with their certificates of completion to document their completion and ACE credits.
5. ACB partners with Emerging Markets Coalition (EMC): This recent alliance ensures that both the ACB and EMC not only deliver cutting edge education, but this 501-c3 coalition also provides up-to-date content from activities on the Hill, advocacy, and national experts in the industry.
6. ACB Founders are publishing the ‘definitive’ book on Cannabis Banking: The ACB Founders were selected by Wiley Publishers because of their proven expertise already in helping businesses and individuals in the cannabis space, especially women and minority owners. While not out till March 2025, the book entitled Cannabis Banking: Legal Frameworks and Practical Solutions for Cultivating Compliance
While tech companies may offer software solutions for cannabis banking, it’s essential to prioritize quality education from sources that have a proven track record in B2B compliance training and support, and the learning platforms needed to delivery ‘best practice’ online education to the banking and cannabis industries. Skilled providers, like the ACB, focus on equipping banking professionals with the knowledge and skills to thrive in this evolving industry. In closing, cannabis banking certification is a critical asset for banks and credit unions navigating the challenges and opportunities of this expanding market.
BONUS OFFER: To demonstrate our commitment to certifying everyone dedicated to supporting this fastest growing industry in the world, we are offering readers 25% OFF both the Foundational and Advanced Cannabis Banking Professional™ certifications by checking out in our secure Square link with coupon code “SAVE25TODAY”!