Our
experience

Implementation of a salary advane product

Leading payment institution – fintech we provided services to a fintech entity as a law firm we were involved in the implementation of a salary advane product.

Legal advice on the refinement and implementation of a salary advance product for one of our long-standing FinTech clients.

Credit services take a variety of forms, with providers seeking to adapt to the needs and requirements of financial market clients. An increasing number of credit product providers are emerging on the market.

This includes not only buy now pay later (BNPL) products, but also other types of products including so-called salary advance. Salary advance products make it possible for employees of an employer working with a service provider to receive their salary earlier, before their scheduled payday, in the form of an advance or a short-term loan.

The law firm, on behalf of an internationally renowned FinTech entity, was involved in the implementation of a salary advance product. Our advisory services included, in particular:

• a comprehensive analysis of the designed product in terms of compliance of the assumptions made with the provisions of Polish law;
• Assessment of the scope of application of the provisions of the Consumer Credit Act and obligations arising therefrom;
• detailed verification of compliance of the product with regulatory requirements applicable to the client as a supervised entity.

The project also included support for the client in drafting appropriate documentation, including contractual documentation, as well as appropriate supervision of the correct and lawful implementation of the new product.