Hatchways thesis is that the traditional method (multiple interviews and code assessments) sucks for screening talent.
Here's an analogy. The current method is like qualifying for a marathon by having candidates run a 100m sprint. A better method is using a half-marathon as the qualifying test. Great marathon runners will probably pass both the 100m sprint and half-marathon tests. That said, some pretty good runners will fail the 100m sprint but pass the half-marathon test with flying colors.
Hatchways is changing the qualifying criteria from 100m sprint to a half-marathon so more people can qualify for the race!