Operational Security Solutions (“OSS”), the premier provider of full-spectrum risk management services with specialization in secure cash management and logistics, cannabis-specific compliance services, security consulting, and facility hardening, announced today its company growth and expansion highlights in 2021. With more emerging market companies breaking into tech and other highly-regulated industries, OSS has successfully positioned themselves as leaders in the space to help businesses establish effective risk management solutions. OSS saw a 43% increase year-over-year in active FI partners in 2021, and the company looks forward to ongoing talks with prospective FIs and other payment solution providers going into 2022. OSS also saw a 37% percent increase in Marijuana-Related Business (MRB) accounts and a 74% increase in total cash pickups this year, allowing the company to move $1.4B+ in funds in 2021. The company also opened up their new East Coast headquarters in Philadelphia, growing their team by nearly 20%, and is projecting another 35% percent overall company growth in 2022.
“In 2021, we have expanded our services to the east coast with our OSS East launch. Our team on the east coast has secured a vaulting facility, completed a complex series of security and hardening enhancements, procured a fleet of up-armored vehicles, and commenced to staff local armed couriers and vault personnel,” said Scott Solomon, CEO of OSS. “Our banking relationships in the works include local, regional and multi-state operators that service the PA, NY, NJ and MD markets. We are incredibly proud of our team for the hard work put in this year to position us as leaders in the risk management and security spaces.”
Operating HIghlights for 2021 Included:
- Operational Security Solutions expanded to New York, New Jersey and Pennsylvania to increase market share dominance on the East Coast
- The company launched their new website and branding to enhance their online presence and marketing collateral to capture the spirit of the company success and reflect their roadmap to rapidly maturing markets across the US
- OSS positioned themselves as thought leaders in the cannabis regulatory and security space by publishing multiple thought leadership pieces in the likes of Bloomberg Tax, Profiles in Legalization, and Cannabis Law Report
- OSS and the company’s Board of Directors appointed their new CEO, Scott Solomon, the company’s long time Chief Operating Officer in July. Solomon’s strategic goals focus on national expansion and continuing to elevate the financial strength of the company.
- The company exhibited and sponsored at the PBC Conference in Washington, DC in September
- OSS attended the Marijuana Business Conference in Las Vegas in October, securing meetings with a number of MRBs and FI’s looking to expand into the eastern and mid-Atlantic states to walk through the company’s product offerings
Key Press Highlights for 2021 Included:
- Fox News “State pot rollouts lag amid court challenges, legislative wrangling after voters backed legalization in 2020”
- Forbes “The SAFE Banking Act For Cannabis Will Be Great, This Security Expert Says, But One More Thing Is Needed”
- Forbes “Cannabis Industry Movers & Shakers Reflect on a Year of Being Essential This 4/20”
- Reuters “US pot sellers stash cash as banks leave them high and dry”
- Forbes “Cannabis Legalization is creating a need for armed security guards”
- Yahoo Finance “Operational Security Solutions OSS Board of Directors Appoints New CEO
- Value Walk “Marijuana related businesses prosecuted for making false statements to open bank account”
- NBC News “Drought, wildfires create new challenges for California cannabis growers”
- Bloomberg Tax “Banking solutions available despite difficulty tax code causes for cannabis industry”
- High Times “US House approves SAFE Banking Act as part of military spending bill in historic vote”
- The Dales Report “Cannabis Investors Seek Federal Banking Reform as BoA Closes Account of Prominent Marijuana Research Firm”
- Profiles in Legalization “Ret. Navy Seal: Biden should support medical cannabis research bill”
Looking ahead into 2022, OSS will be firmly establishing CIT operations in the mid-Atlantic region and expanding their offering to include the northeast corridor, Florida and the midwest.
OSS offers industry-leading security offerings, cannabis-specific financial service solutions and relationships, connecting highly regulated businesses that struggle to get banking services with financial institutions that have specific programs designed for the industry or organizations that are unable to be serviced by certain banks. Notably, OSS boasts a no-loss record to-date. To learn more about OSS visit www.opsecsolutions.us.
About Operational Security Solutions
Operational Security Solutions (OSS) was assembled in 2017 by a team of former law enforcement, military and federal service professionals to support the security and banking needs of the legal cannabis industry. OSS was started by professionals that have spent their previous careers battling against the harms done by the illicit narcotics trade — but have now founded a security and risk management company for the legitimate, legal cannabis industry. OSS breaks down the real risks for an industry that has limited access to banking services and provides the solutions needed from long years of law enforcement and government experience.