The Vulnerability Registration Service

The Vulnerability Registration Service (VRS) gives vulnerable people a single place to register their status, helping them avoid repeating the same difficult conversations every time they engage with organisations like lenders and creditors. It is a “Not for Profit Company Limited by Guarantee” whose aim is to help vulnerable consumers protect themselves against the financial, social and very personal hardship suffered as a result of debt and financial problems. The stakeholders in the VRS all have experience working in Consumer Credit markets. There are regulatory, compliance, consumer affairs and IT expertise and acknowledged experts on our management team and Board. The VRS has a separate and independent Advisory Board of experts that meets regularly and feeds into the VRS appropriate advice and innovation to help drive the VRS forward. There has been considerable interest shown in the initiative since its launch from consumers and businesses alike. The VRS continues to grow as awareness expands among creditors and service providers of all sectors. Debt advice and mental health organisations are also supportive of the work the VRS does, and using the register to load consenting vulnerable consumers who wish to refer or auto decline lending and credit applications. The VRS provides businesses with instant API decisions and access to upload your consenting vulnerable consumers onto the VRS register. They are also able to upload consenting consumers on the VRS register via Secure File Transfer Protocol (SFTP) and retrieve data from the SFTP.