StandardC

The Suspension of the Corporate Transparency Act — What It Means for Banks and Credit Unions The Treasury Department’s suspension of the Corporate Transparency Act (CTA) dramatically alters the compliance landscape for financial institutions. Originally designed to create a central registry of beneficial ownership, the CTA would have provided new transparency into corporate structures. But now, with enforcement halted (again), that transparency gap falls squarely back on banks, credit unions, and financial services providers. No Central Registry = More Responsibility on Banks Without FinCEN’s beneficial ownership database, financial institutions remain fully responsible for identifying, verifying, and monitoring beneficial owners of legal entity customers — just as they have been under the Bank Secrecy Act and the existing Customer Due Diligence Rule. A More Fluid, High-Risk Environment Demands Rapid Change This regulatory uncertainty underscores the need for agile, modular compliance solutions that adapt quickly as regulations shift while providing continuous visibility into customer risk. StandardC Delivers Agility At StandardC, we’ve built AI-driven KYC/KYB solutions to enhance your ability to automate beneficial ownership discovery, perform ongoing risk monitoring, and streamline high-risk customer due diligence. With StandardC VerifyC?, our remote inspection and enhanced due diligence platform, financial institutions can conduct Virtual Site Visits — ensuring operational transparency for higher-risk customers (fintech, MSBs, CRB, and cash-intensive businesses) The regulatory landscape is evolving — and StandardC provides the modular tools to evolve. Let’s talk about how we can help your institution stay ahead of regulatory uncertainty while reducing compliance costs and improving risk visibility. Visit www.StandardC.com to learn more, or connect with us to schedule a demo. #KYC #KYB #AML #Fintech #Compliance #Banking #CreditUnions #AICompliance #RegTech #BeneficialOwnership #EnhancedDueDiligence #StandardC #VerifyC #FinancialCompliance #ModularCompliance #CorporateTransparencyAct #FinCEN

At StandardC, we've always believed that true innovation isn't just about creating something new; it's about making that new something accessible to everyone. This belief drives us as we evolve our platform to meet the unique challenges small and regional financial institutions like yours face. The Unseen Struggles of Smaller Financial Institutions Smaller banks and credit unions have faced an uphill battle for too long. While the largest financial institutions benefit from innovative, state-of-the-art technology, smaller organizations often struggle with outdated, siloed software systems that are expensive to maintain and difficult to integrate. The result? A widening gap between the big players and everyone else. Regulators increasingly demand better compliance and technological adoption, but the cost and risk of overhauling legacy systems can be prohibitive. This leaves many smaller institutions stuck in a cycle of inefficiency, unable to grow, innovate, or compete effectively. At StandardC, we understand your frustration. We've seen how the odds have been stacked against you and made it our mission to help level the playing field. A New Era of Opportunity StandardC was born out of a need to solve specific challenges in the cannabis banking sector. However, as we refined our products, we recognized that the advanced tools we developed were not just solutions for a niche market—they were powerful resources that could revolutionize the entire financial services industry. With its pay-per-use functionality, our modular software platform is designed with your needs in mind. By offering scalable, flexible solutions that can grow with your institution, we remove the barriers traditionally holding smaller organizations back. You no longer have to choose between staying small or taking on massive risks; with StandardC, you can innovate at your own pace with technology that fits your budget and ambitions. Tailored Solutions for Compliance-Intensive Banking and Beyond Selecting the right software solution is critical if your institution serves compliance-intensive industries. Before committing to a cannabis-focused provider, it's essential to choose a solution that not only addresses the specific complexities of the cannabis sector but also seamlessly applies to your broader customer base. At StandardC, we initially built our platform to provide specialized support for cannabis-related business banking while ensuring the same tools and capabilities apply to all your business customers. This dual focus allows you to confidently serve a diverse client base, knowing that your technology is versatile and robust enough to handle any challenge.

Check out our PBC Conference 2024 Sponsor Infomercial Series, featuring StandardC! StandardC empowers banking and financial service providers with transformative business identity and?compliance solutions. Be sure to visit our site for more interviews and videos with leading regulators, legislators, and PBC Conference sponsors! Don't forget to join us on Sept 4-5 in Washington, D.C. for PBC 2024 - the premier event for cannabis payments, banking, and compliance professionals. Register here: https://lnkd.in/eBrBu3Re #PBCcommunity #PBCconference #PBCCertification #PBCLevelI #PBCnews #payments #banking #compliance #cannabis #cannabisbanking #cannabispayments #cannabiscompliance #cbd #hemp #cannabisbankingecosystem

Greg Kidd's inspiring journey laid the foundation for Hard Yaka Ventures. Once again, I want to thank Hard Yaka Ventures, Paul Funk, and Richard Laiderman for backing StandardC's mission to democratize financial services and provide innovative, best-in-class software to financial institutions of all sizes. Meet Greg Kidd at https://lnkd.in/g7tesC8b.

Leveling the Playing Field StandardC At StandardC, we believe all financial institutions deserve access to the best tools, regardless of size. That's why we developed a range of modular, pay-per-use solutions that tackle the compliance challenges faced by community banks and credit unions. For too long, expensive, rigid software has limited options. With StandardC, you can choose the tools you need when you need them. One of our newest modules is the game-changing Virtual Site Visit App! This innovative app allows bankers to conduct effective site visits remotely, eliminating geographic limitations, saving valuable time and resources, and completing comprehensive business due diligence in minutes. Here's what makes it stand out: - Geolocated Verification: Ensures location accuracy with GPS. - Mobile-Friendly: Streamlined questionnaires accessible on any mobile device. - Capture Photos: Utilize the embedded camera to capture important visuals. - Pay-Per-Use: No long-term contracts, just pay for what you use. - Empower your community bank to compete and grow. With StandardC, you’re not just keeping pace—you’re setting the standard. Learn more about the Virtual Site Visit App and explore how StandardC can transform your compliance into a competitive advantage: https://lnkd.in/ggXcSHtc #communitybanking #fintech #compliance #innovation #payperuse #virtualsitevisit #efficiency #growth

?? Say "hello" to our third and final set of speakers for PBC Conference 2024! Register today and hear from these amazing experts in the Cannabis Banking Ecosystem at PBC 2024 this September 4-5th in Washington, D.C. Check out the speaker line-up here: https://lnkd.in/e-FJZ2rB Robert Baron, CEO at StandardC Eric Berlin, Partner at Dentons Norman Birenbaum, Former Director, Cannabis Programs, NYS LaKia M. Bourne, Founder & Partner at Green Space Accounting Jay C., CEO at LJ Capital Partners Brian Dao, AAP, VP Industry & Government at EPCOR - Electronic Payments Core of Knowledge Steven Ernest, Vice President, Originations at Chicago Atlantic Jewell Lim Esposito, Esq., Partner at Pierson Ferdinand LLP Linda Mercado Greene, Owner/CEO at Anacostia Organics John Hudak, Director, Maine Office of Cannabis Policy Peggy Koller, Founder and CEO at GreenLeaf Accounting, LLC Deborah Lin, AVP, Senior Banking Lead at Blue Sky Bank Stacy Litke, VP of Banking Programs at Green Check Mark Lozzi, Co-Founder & CEO at PointChain Global Sarah Mirsky-Terranova, Esq, CFE, Owner & Principal at AE Consulting LLC (Fractional Compliance & Legal Support) Shanita Penny, Senior Vice President at Forbes Tate Partners Nicole Perry, Cannabis Banking Manager at Credit Union 1 Jeff Rodgers, Senior Attorney at IRS, Office of Chief Counsel Natalie Runoff, CPA-CMA, M.A., B.A., ICC, Founder at BuzzCodex Nichelle Santos, Founder & CEO at CannaCoverage Insurance Ross Sloan, SVP & Speciality Banking Officer at Dart Bank #PBCcommunity #PBCconference #PBCCertification #PBCLevelI #PBCnews #payments #banking #compliance #cannabis #cannabisbanking #cannabispayments #cannabiscompliance #cbd #hemp #cannabisbankingecosystem

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