SEATTLE — Shield Compliance, a leading compliance platform for cannabis banking, announced new organizational changes and promotions to strengthen its position in the evolving cannabis market and better support financial institutions serving licensed cannabis operators.
Jenna Meyer was promoted to Chief Operating Officer. In her role leading the Client Success team, Jenna has been instrumental in deepening Shield’s client relationships while guiding the development of Shield’s products and services to ensure they reflect the changing needs of its bankers. In her new role, she will oversee the Client Success organization, Operations, and Product Management.
Cami Cantrell was promoted to Executive Vice President, Administration and Professional Services. Cami will continue to lead Shield’s payments strategy work while also building a well-rounded professional services team designed to help bankers meet the expectations of regulators, auditors, and Board of Directors in the cannabis sector and other high-risk industries.
“As the cannabis market continues to evolve at a rapid pace, we recognize the challenges and opportunities it presents to financial institutions,” said Tony Repanich, president and CEO of Shield Compliance. “I am excited to celebrate Jenna’s and Cami’s incredible leadership with these promotions as we continue our work equipping bankers across the country with the tools, knowledge, and support they need to navigate this dynamic industry successfully.”
By staying at the forefront of market trends and regulations, Shield is committed to helping bankers excel in serving the needs of licensed cannabis businesses and consumers alike. Shield continues to enhance its flagship BSA/AML compliance solutions: Shield Assure for ongoing monitoring and reporting; and Shield Engage for client application processing, underwriting, and onboarding. The company also recently introduced Shield Force, a professional service offering for financial institutions requiring additional compliance staffing support to maintain or expand their cannabis programs.
The strength of Shield’s products and services has resulted in steady growth and preference amongst banks and credit unions. Since its inception, Shield has partnered with more than 65 financial institutions and monitored 10.9 million transactions including $46.1 billion in deposit volume. For the 12 months ending March 31, 2024, Shield’s financial institution customers have earned $37.9 million in fee income. As of March 31, 2024, these financial institutions have $1.1 billion in deposit balances and $290 million in loans outstanding from over 6,046 cannabis-related businesses representing more than 19,472 active cannabis licenses.
About Shield Compliance
Shield Compliance transforms how financial institutions serve the legal cannabis market. Its purpose-built BSA/AML compliance management software solution sits behind the financial institution to simplify compliance, automate processes across multiple data sources, create efficiencies, unlock new revenue, and scale operations. With real-time monitoring and comprehensive reporting capabilities, Shield Compliance sets the standard for compliance excellence in cannabis banking. For more information, visit www.shieldbanking.com.
