Webinar Date/Time

June 25, 2026
1:00 - 2:00 pm ET

Includes Playback without Expiration

Enroll Today!

About this Event

This 3rd installment session explores the emerging role of closed-loop payment systems and how they seek to provide many of the advantages consumers expect from debit cards while addressing some of the risks associated with open-loop card products and ACH-based alternatives. Participants will examine the mechanics behind authorization and fund reservation, guaranteed settlement concepts, fraud mitigation controls, and the role financial institutions play in supporting compliant payment ecosystems.

Attendees will gain a practical understanding of how closed-loop solutions work, the risks they are intended to address, and the challenges that remain—including consumer adoption and operational implementation. Through discussion of real-world payment structures, participants will learn how to evaluate emerging payment models and assess their impact on cannabis banking programs.


Attendees Will Leave Understanding

  • Why traditional card networks remain problematic for cannabis transactions

  • The differences between open-loop, ACH-based, and closed-loop payment models

  • How authorization and fund reservation mechanisms can reduce payment risk

  • Key factors banks should evaluate when considering payment providers

  • The operational and compliance benefits associated with guaranteed settlement concepts

  • The biggest obstacle facing emerging payment solutions: consumer adoption

Instructor(s)

Michael Andrud

CEO - Lüt

FinResults Inc. is a fintech firm that specializes in advanced CRM / Process Management software and Payment solutions that helps our clients manage complex, high-risk and compliance intensive customer relationships. We combine the best features of advanced technologies in digital customer experience (UX), artificial intelligence (AI), process automation and data management to help our clients simplify end to end end to end business processes and compliance associated with high-risk customers.

Andre Herrera

Juno - Chief Compliance Officer

Andre G. Herrera is a seasoned professional with over 32 years of experience in banking, compliance, payment solutions, and technology management. Mr. Herrera oversees all matters of compliance for the organization providing banking, compliance, and payment expertise to the company. His core competencies include the implementation and administration of merchant credit card processing programs and significant programs involving ACH, debit cards, credit cards, co-branded and stored value products. Mr Herrera has consulted and implemented payment technologies and compliance solutions both domestic and international. Formally a bank CIO, he was responsible for the implementation and administration of secure systems in the highly regulated banking industry. He has planned, researched, and placed in production all banking technologies and proprietary systems necessary to run a financial institution. He has performed and managed complex projects involving large-scale conversions and data migrations as well as the implementation of new products and services. Andre’s technical background coupled with his effective communication skills has shown proven performance in the industry. Considered an expert in banking challenging industries, he is frequently asked to speak at banking conferences and seminars providing insight and expertise, and has educated over 10,000 bankers in how to provide financial services to high risk verticals.

Chris Van Dyck

Partner - Cogent Law Group

Chris Van Dyck, a partner at the Cogent Law Group, has been involved in the cannabis banking space for close to ten years, first as a financial regulatory attorney and then as general counsel and BSA officer at a financial institution. During his time as a regulatory attorney, he worked closely with financial institutions regulated by his office on compliance issues, including cannabis banking when the FinCEN guidance was issued in 2014. For the last nine years, he has focused his attention on developing a cannabis banking program, ensuring that it meets all regulatory expectations. During his tenure, the cannabis banking program at his financial institution grew extensively and became a significant revenue source.