Cannabis and Hemp Banking

Banking MRBs comes with a substantial amount of BSA work, of which a large component can be simplified and reduced through automation. Docfox’s global experience, reputation and state of the art technology is the reason why the most prominent cannabis banking organizations choose DocFox as their BSA software to uphold their rigorous compliance standards.

DocFox is a market leader in BSA automation with industry firsts.
Here are just some of the unique features:

DOCUMENT ANALYSIS FULLY AUTOMATED

Automation of document data checking, capture and comparison (including non-standard documents like policies, articles of incorporation or cannabis licenses).

SEAMLESS COLLABORATION

A single portal which is used across your team to enable seamless collaboration on accounts and reviews with assigned tasks.

ENHANCED VENDOR SCREENING

Manage vendors for outgoing payments by screening them and allowing customers to submit licensing data and other payment documents.

ROBUST AUDIT TRAIL

A robust automated audit trail enriched with BSA officer comments and context which simplifies any internal review or working with examiners.

BRANDED CUSTOMER PORTAL

Provide your customers with a seamless and user friendly experience through a white-labeled portal.

AUTOMATED TICKLER REMINDERS

Automatically created reminders for cannabis licenses which track expiry dates.

ENHANCED DUE DILIGENCE

Mapping of ultimate beneficial owners with in-depth due diligence on each owner or related party.

DocFox benefits include:

The DocFox BSA solution is a white-labelled platform customizable to your branding, ensuring your members continue to receive personalized service throughout the application review process. Our online tool is easy to use, as documents can be submitted by taking pictures of them with a phone camera and feedback is given in seconds. 

Automating document collection, eliminating document chasing, and providing instant verification ensures faster account openings, happier members and BSA compliance.

Automated document collection and analysis

Always audit-ready

Adverse media and related news screening

Transaction reconciliation

Vendor management