banking Solutions

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Banking solutions

Banking the good businesses in high risk industries

We specialize in closed loop and open loop payment solutions that help financial partners expand into new markets and industries.

Application / Onboarding

As part of the RevaPay application and onboarding process, we capture the information required to open a bank account. This includes fulfilling KYC and Beneficial Owner requirements, gathering organizational, financial, licensing, and other relevant information

Enhanced Due Diligence

The RevaPay enhanced due diligence process includes a deep dive into the ownership, leadership, reputation, operations, customers, products, and vendors. The information is consolidated and analyzed to ensure it is a good business that desires to do things right.

Limited SARs

In accordance with FinCEN Guidance, a limited Suspicious Activity Report must be submitted at bank account opening. RevaPay will complete the SARs and provide it to you for review and approval. RevaPay can submit the SARs on the bank’s behalf if so desired.

Onsite Exams / Audit

Based on the risk profile of the customer, RevaPay requires regular onsite exams to ensure the business is adhering to proper policies and procedures, in compliance to mandates, and operating in accordance with their business plan.

Account Monitoring

The RevaPay Solution provides the capability of tracking and tracing the flow of all funds coming in and going out of the business. This data set is monitored to validate cash flows, identify anomalies, Know Your Vendor and tax payments. 

Reporting

Leveraging RevaPay built-in report capabilities, you will have greater insight into the sources and uses of funds, financial results, and numerous other insights to ensure your customer is in full bank compliance.

Banking Solutions

FinCEN Guidance, Cole Memorandum, Farm Bill, Safe Banking, etc

The Cannabis Industry is the fastest growing of all the emerging industries. This will most likely not change any time in the near future. This creates significant opportunities for the financial institutions with the culture and willingness to be early to market. RevaPay can be your partner to help ensure you have the people, processes, and technology to mitigate any risk and to ensure you and your customers are meeting all regulatory requirements.

Closed Loop Processing and Financial Tokens

For payment processing for our merchants who are engaged in regulatory defined “high-risk industries, we leverage a real-time closed loop processes leveraging tokens marked to the US dollar. These financial transactions are transparent to all parties involved in the processing and settlement.

Third-party Vendor Management

RevaPay has the most robust compliance technology and processes in the high-risk payments industries. We provide our bank partners with the confidence in knowing their customers who are leveraging RevaPay are in strict adheres with state level licensing, mandates and regulations. The strength of the RevaPay solution does not relieve the financial institution of its own regulatory and compliance requirements.

Contact Us

If you like to learn more the RevaPay Solution for Financial Institutions
and to explore the opportunities of becoming a partner bank
Please Contact us at compliance@revapay.com
or Call 888-888-8888