Pioneering Success: Hastee Achieves Landmark Compliance with EWA Code of Practice
Back in 2023, Hastee joined forces with the UK Money & Pensions Service, the CIPP, and 6 other Earned Wage Access (EWA) providers to launch the world’s first ‘EWA Code of Practice’. The Code set out a common standard that firms providing EWA products should follow to deliver good consumer outcomes.
Now, 12 months on, Hastee continues to deliver on its pioneering spirit within the rapidly growing EWA industry: Hastee is among the very first EWA providers to have been independently assessed by a global leader in assurance services against its compliance with the EWA Code of Practice.
In line with the Code, in-depth reviews were conducted of the following areas of Hastee’s business areas:
- Product design and value
- Communicating with consumers
- Vulnerability
- Ongoing Consumer Support
- Product Governance
- Oversight and Measuring Outcomes
- Appropriate Consumer Relationships and Conflicts of Interest
- Training and Competency Assurance
Following a series of interviews, process reviews, and consumer journey testing, Hastee has received a pass mark, highlighting Hastee’s continued focus on delivering good consumer outcomes.
Hastee COO Clemens Moehring, who has led Hastee’s contribution to the Code, said: “We are incredibly proud to have successfully passed the first independent assessment of the EWA Code of Practice. This achievement not only highlights our dedication to maintaining the highest standards in the industry but also reinforces our commitment to empowering employees with responsible and transparent financial solutions. We are grateful for the thorough and professional assessment, which assures our clients and users of the integrity and reliability of our services.”
👉 📂 Click here to view and download the full EWA Code of Practice on the CIPP website
