Clair's Underwriting Model

In order to underwrite earned wage access (EWA) loans for the employee, Clair needs to be able to access certain data. We use the pay rate and time clock data of the employee to calculate their gross earnings. Of those gross earnings, the employee is able to access 50%, up to the limit of $200, through EWA loans. This way the employee will always have enough left in their paycheck to cover their deductions, and also reduce the possibility of borrowing more than they are able to pay back.

By using this tangible data, we are able to offer these loans to the employee through our Partner bank, Pathward. The limits on EWA are: Each loan must be a minimum of $50 and a maximum of $200, and the user may only take advances on shifts that have been completed and reported to Clair through integration.

FAQ

What APIs does Clair have?

Clair provides a RESTful API for the transmission of data necessary to power its EWA product. As we work together as partners and design how you’ll bring EWA to employees on your platform, API documentation will be provided detailing the data that will be needed. The EWA product itself where employees interact to take loans, view statements, etc is delivered as an embeddable component that you simply launch in a WebView.

Clair will need data about the employees (name, email, phone, address), their employers (company name, location), and their employment (salary, termination, attendance) to facilitate onboarding and underwriting. The specific scope of this data will be worked on together through our partnership.

All Advances are originated by Pathward®, N.A.