Anti-Modern Slavery Statement

This statement sets out the steps taken by 10x to prevent modern slavery and human trafficking in its business and supply chains.

This statement relates to actions and activities during the financial year ending December 2018.

In keeping with our values of Integrity and Impact, at 10x we care about the world we live in and strive to make it better and we seek opportunities through our work to have a positive impact particularly for those less advantaged. As part of this we recognise that we have a responsibility to take a robust approach to slavery and human trafficking.

10x is absolutely committed to preventing slavery and human trafficking in our activities, and to ensuring that our partners and our supply chains are free from slavery and human trafficking. 

We require vendors and suppliers to maintain and promote fundamental human rights, where employment decisions are based on free choice without any coerced or prison labour, no use of physical punishment or threats of violence or other forms of physical, sexual, psychological or verbal abuse as a method of discipline or control.

In addition, our policy mandates the adherence to minimum employment age limits defined by law or regulation, and the prohibition of children performing work that exposes them to undue physical risks that can harm physical, mental, or emotional development or improperly interfere with their schooling needs.

Business and Structure

10x Banking is the trading name of 10x Future Technologies Services Limited, which employs all 10x colleagues.

10x is a low-risk fintech business focused primarily on delivering a universal platform built on open banking principles. Our employees are based out of our central London head office.

Policies and Controls

Our emerging people policies reflect our commitment to our values of Integrity and Impact, and support ethical business practice and corporate citizenship. These policies will further endorse that we do not condone the abuse of human rights or the use of forced or bonded labour. All policies apply to both 10x employees, our consultants and the employees of our partners and suppliers.

In addition, our whistleblowing policy specifically calls out to colleagues that any concerns about modern slavery in our business or supply chain should be reported so that action can be taken.

Recruitment Practices

We assess the eligibility of all colleagues to work in the UK, and provide relevant colleagues with appropriate guidance to manage this process.

Training and Communication

All members of our 10x Partnerships team are made aware of modern slavery and human rights and our policies relevant to modern slavery, contractual changes and the outcome of our supplier risk assessment. We continue to ensure that our Partnerships agreements contractually address the need for our partners to adhere to all legislation including the Modern Slavery Act.

To ensure 10x-wide awareness of this important issue, we will continue to ensure we educate colleagues throughout the business about the risks of slavery and human trafficking in supply chains and empower them to challenge unethical behaviour.

Assessment of the Risk of Modern Slavery within 10x

Based on our review of our location, recruitment practices and roles within the business, combined with our policy we are confident that the risk of modern slavery within 10x is very low.

Our Supply Chain

We source goods and services from both UK-based and international partners to support the delivery of our technology services. We purchase primarily from the following sectors:

Property and Facilities – for example, maintenance services; user Information Technology support - including software, hardware and telecoms; Professional Services - for example, off-shore outsourced technology developers and management consultants.

Our providers range in size from SME businesses up to large blue-chip corporations.

Due Diligence

Our due diligence process considers the steps suppliers take to ensure modern slavery does not exist within their business and supply chain. New suppliers will be required to sign to attest our minimum expectations of human rights standards and labour conditions with which providers are expected to treat employees, based on the principles of modern slavery and human trafficking. Adherence to all relevant laws relating to human rights, human trafficking and modern slavery is essential and we require suppliers to inform us as soon as practicable should they identify a breach of the Modern Slavery Act in their business or supply chain.

Supply Chain Risk Assessment

We are undertaking a risk assessment of our supply chain according to the nature of the goods or services, their origins, and the extent of subcontracting. This risk assessment will inform action we take to more fully understand our risks.

Evolving Approach

We are committed to continuing to develop our understanding of the issues and mitigating the risks involved in modern slavery. We will continually review our policies, processes and controls, and improve the mapping of our supply chain to identify areas of high risk. 

During 2019 we will consider the best way to provide assurance that any high-risk sectors of our supply chain are free from modern slavery and we will develop KPIs to measure the effectiveness of our approach. We will also continue to engage and collaborate with other fin tech companies as we strive to further improve standards and transparency across our supply chain.

This statement has been published pursuant to section 54 (1) of the Modern Slavery Act 2015 and constitutes 10x’s slavery and human trafficking statement for the financial year ending 31 December 2018. It has been approved by 10x’s Board of Directors and will be reviewed annually.

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Anti-Modern Slavery Statement

This statement sets out the steps taken by 10x to prevent modern slavery and human trafficking in its business and supply chains.

This statement relates to actions and activities during the financial year ending December 2018.

In keeping with our values of Integrity and Impact, at 10x we care about the world we live in and strive to make it better and we seek opportunities through our work to have a positive impact particularly for those less advantaged. As part of this we recognise that we have a responsibility to take a robust approach to slavery and human trafficking.

10x is absolutely committed to preventing slavery and human trafficking in our activities, and to ensuring that our partners and our supply chains are free from slavery and human trafficking. 

We require vendors and suppliers to maintain and promote fundamental human rights, where employment decisions are based on free choice without any coerced or prison labour, no use of physical punishment or threats of violence or other forms of physical, sexual, psychological or verbal abuse as a method of discipline or control.

In addition, our policy mandates the adherence to minimum employment age limits defined by law or regulation, and the prohibition of children performing work that exposes them to undue physical risks that can harm physical, mental, or emotional development or improperly interfere with their schooling needs.

Business and Structure

10x Banking is the trading name of 10x Future Technologies Services Limited, which employs all 10x colleagues.

10x is a low-risk fintech business focused primarily on delivering a universal platform built on open banking principles. Our employees are based out of our central London head office.

Policies and Controls

Our emerging people policies reflect our commitment to our values of Integrity and Impact, and support ethical business practice and corporate citizenship. These policies will further endorse that we do not condone the abuse of human rights or the use of forced or bonded labour. All policies apply to both 10x employees, our consultants and the employees of our partners and suppliers.

In addition, our whistleblowing policy specifically calls out to colleagues that any concerns about modern slavery in our business or supply chain should be reported so that action can be taken.

Recruitment Practices

We assess the eligibility of all colleagues to work in the UK, and provide relevant colleagues with appropriate guidance to manage this process.

Training and Communication

All members of our 10x Partnerships team are made aware of modern slavery and human rights and our policies relevant to modern slavery, contractual changes and the outcome of our supplier risk assessment. We continue to ensure that our Partnerships agreements contractually address the need for our partners to adhere to all legislation including the Modern Slavery Act.

To ensure 10x-wide awareness of this important issue, we will continue to ensure we educate colleagues throughout the business about the risks of slavery and human trafficking in supply chains and empower them to challenge unethical behaviour.

Assessment of the Risk of Modern Slavery within 10x

Based on our review of our location, recruitment practices and roles within the business, combined with our policy we are confident that the risk of modern slavery within 10x is very low.

Our Supply Chain

We source goods and services from both UK-based and international partners to support the delivery of our technology services. We purchase primarily from the following sectors:

Property and Facilities – for example, maintenance services; user Information Technology support - including software, hardware and telecoms; Professional Services - for example, off-shore outsourced technology developers and management consultants.

Our providers range in size from SME businesses up to large blue-chip corporations.

Due Diligence

Our due diligence process considers the steps suppliers take to ensure modern slavery does not exist within their business and supply chain. New suppliers will be required to sign to attest our minimum expectations of human rights standards and labour conditions with which providers are expected to treat employees, based on the principles of modern slavery and human trafficking. Adherence to all relevant laws relating to human rights, human trafficking and modern slavery is essential and we require suppliers to inform us as soon as practicable should they identify a breach of the Modern Slavery Act in their business or supply chain.

Supply Chain Risk Assessment

We are undertaking a risk assessment of our supply chain according to the nature of the goods or services, their origins, and the extent of subcontracting. This risk assessment will inform action we take to more fully understand our risks.

Evolving Approach

We are committed to continuing to develop our understanding of the issues and mitigating the risks involved in modern slavery. We will continually review our policies, processes and controls, and improve the mapping of our supply chain to identify areas of high risk. 

During 2019 we will consider the best way to provide assurance that any high-risk sectors of our supply chain are free from modern slavery and we will develop KPIs to measure the effectiveness of our approach. We will also continue to engage and collaborate with other fin tech companies as we strive to further improve standards and transparency across our supply chain.

This statement has been published pursuant to section 54 (1) of the Modern Slavery Act 2015 and constitutes 10x’s slavery and human trafficking statement for the financial year ending 31 December 2018. It has been approved by 10x’s Board of Directors and will be reviewed annually.