They Help Banks Underwrite Cannabis Founders, $500k ARR Now, $1m Soon?
SaaS Interviews with CEOs, Startups, Founders
Nathan Latka
4.6 • 683 Ratings
🗓️ 17 July 2021
⏱️ 18 minutes
🧾️ Download transcript
Summary
Justin Fischer is CEO and Co-Founder of RiskScout, a leading company helping financial institutions bank higher risk businesses such as Hemp, CBD, Cannabis, MSB, Private ATMs, Crypto, and many more. Small to medium-sized businesses in higher-risk and specialty markets are not able to access financial services because many providers lack the resources, expertise, or infrastructure to expand their business portfolio into higher-risk markets. This compliance barrier leaves many hard-working entrepreneurs and community businesses without the financial services they need to grow. By helping financial institutions solve complex compliance with technology solutions, RiskScout helps local businesses in higher-risk markets find a community partner that they can trust.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Yeah, there's great fees on it, right? I mean, it depends on where your ATM is. And the funny side |
| 0:04.3 | point to that is you put an ATM in a cannabis dispensary because they're so cash-based. |
| 0:09.1 | Hopefully you don't rake people over the coals with fees, but they can be very lucrative. About 15 |
| 0:13.7 | times. You are listening to Conversations with Nathan Latka, where I sit down and interview the top SaaS founders, like Eric Wan from Zoom. |
| 0:26.0 | If you'd like to subscribe, go to getlatka.com. We've published thousands of these interviews, and if you want to sort through them quickly by revenue or churn, cack, valuation, or other metrics, the easiest way to do that |
| 0:39.1 | is to go to Gitlatka.com and use our filtering tool. It's like a big Excel sheet for all |
| 0:44.0 | of these podcast interviews. Check it out right now at GitLatka.com. |
| 0:50.2 | Hey folks. My guest today is Justin Fisher. He's helping financial institutions bank higher risk businesses. |
| 0:56.1 | The company you're out if you want to follow on. |
| 0:57.3 | It's called Risk Scout.com. |
| 0:59.2 | Justin, you're ready to take us to the top? |
| 1:00.6 | Let's do it. |
| 1:01.7 | All right. |
| 1:01.9 | What's that mean? |
| 1:02.6 | Bank higher risk businesses? |
| 1:04.6 | Well, essentially banks, bank, you know, consumers and regular businesses all the time. |
| 1:10.0 | Higher risk businesses in our world are THC, so cannabis, hemp, CBD, MSBs, which are money |
| 1:17.1 | service businesses, they move cash, ATMs, and there's about 30 other types. |
| 1:22.3 | But basically, they require a lot of additional due diligence and compliance before the bank |
| 1:26.7 | can ensure that they can bank |
| 1:28.4 | them appropriately. Give me an example. So I'm an investor that owns a bunch of ATMs. I want to bank |
| 1:33.1 | with JPM Morgan Chase. J.P. Morgan won't take me. Why don't they like ATM revenue? Yeah, that's a great |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Nathan Latka, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Nathan Latka and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.