Modern slavery statement

Pursuant to section 54 of the ModernSlavery Act 2015, this statement outlines Equals Group Limited (the Group) approach to modern slavery and human trafficking for the financial year ending 31st December 2023.

Modern slavery and human trafficking are crimes that are global in scale yet is it clear in the Home Office’s 2021-2022 UK Annual Report on Modern Slavery detection and prevention is as critical in the UK as it is worldwide.

This statement applies to all firms and subsidiaries within the Equals Group and was originally approved by the CEO of Equals Group Limited on 15 June 2023, updated on 1 February 2024 and, subsequently ratified by the board.

Our Organisation

Equals Group Limited is the parent company for a number of companies within the Equals Group. It is a provider of Financial Services, not goods.
Founded in 2007, Equals has been a leading challenger in the financial services sector catering for both business and retail customers.

Through our subsidiaries we are authorised by the FCA, HMRC and we have Tier-1 bank grade functionality with the Bank of England and direct connectivity with the UK payments network. Our products range from our own brand payment accounts for individuals and businesses to a variety of FX Solutions and payment transfers.

The Group has approximately 400 staff based in the United Kingdom, between London and Chester, along with 20 employees across our offices in Amsterdam and Brussels. As these staff are directly employed by the Equals Group and are not considered to be a position which is at risk of modern slavery or human trafficking, our focus is on the supply chain to firms within the Equals Group.

Our Supply Chain

As a provider of user centric technology to enable our clients to make payment services and deliverable foreign exchange in a low-cost manner, a significant proportion of the technology is built and maintained in house. Nevertheless, the Group does utilise a relatively small supply chain where it is more practical to work with partners and suppliers to enable the day-to-day operations of our technology services.

In addition, and outside of the technology sphere, the Group acquires a variety of goods and services such as professional services, contractors and consumables.

These suppliers, who range from small to medium business to multi-nationals are predominantly based within the United Kingdom, with a limited number within the European Union and further afield.

Our Policies

Equals Group believes that it not only has the obligation to uphold the rights and freedoms of individuals employed directly by the Group but to put in place policies to mitigate and eliminate the risk of modern slavery and human trafficking within its supply chains. These policies are reviewed on an annual basis. These are:

- Modern Slavery and Human Trafficking
- Policy Supplier Onboarding Policy
- Whistleblowing Policy
- Anti-Bribery and Corruption Policy