Cogent Bank expands services to include cannabis, blockchain banking team
Cogent Bank has diversified its product and service portfolio by launching four new teams focused on cannabis banking, blockchain-enabled companies, premium finance lending and public finance. The full-service, commercial bank considers its efforts to support these customer-focused niches as an investment in the future of banking.
“Cogent Bank continues to expand our personalized services to meet the unique needs of each business,” said Brandon Box, Cogent’s Southwest Florida marketing president. “Growing into different, innovative and diversified verticals allows our experienced bankers to create results for our clients.”
For example, Cogent plans to partner with the high-growth cannabis market to provide banking solutions to growers, manufacturers, distributors, dispensaries and other related industries and professionals. The company executives’ years of experience combined with board and regulatory support will provide the necessary knowledge to serve the unique challenges of cannabis-related businesses, reports Cogent.
The bank also has a grasp of the risks, dynamics, fund flows, decentralized organizations, blockchain integration, protocol development and evolving regulatory landscape behind blockchain-based payments that are critical to client success in this vertical.
Of course, Cogent’s expansion is not limited to non-traditional services. The bank understands that while the industry may be evolving, it is still important to support and expand traditional banking services.
Cogent now offers premium financing loans to insurance agents to help their customers pay for business insurance premiums ranging in price from $500 to $26 million. The underwriting process is streamlined and prices are competitive, reports Cogent.
The bank’s public finance vertical supports local, county and state governments, as well as entities such as school districts and water, sewer and utility authorities. This division serves the unique financial requirements of the public sector nationally, addressing operational needs and maximizing taxpayer dollars with full-service solutions designed for public sector entities.
Cogent is a state-chartered bank that has operated as a full-service business and personal bank since 2001. With more than $1 billion in total assets, Cogent offers multiple banking centers in North and Central Florida and recently expanded into Southwest Florida.
