Veqtrx — Affordability infrastructure for UK lenders, utilities, and councils

The £13.2 billion affordability gap.

UK creditors collectively carry £13.2 billion in arrears. 8.1 million people need help. The current system is broken.

£6.6B

Council tax arrears

£4.43B

Energy debt

£2.1B

Water debt

£235.9B

Consumer credit

Multiple creditors

32% owe 3+ creditors at once. Repayment plans fail 40–50% of the time because no creditor sees the full picture.

Vulnerability undetected

Gambling, BNPL stacking, joint-account dependencies go undetected. Manual checks miss patterns systematically.

No shared infrastructure

Customers repeat the same affordability assessment 3–5 times. No standard format. No reuse.

Step 01

Capture once.

Open Banking-verified transactions, structured circumstances form, trained advisor review. The data is captured to FCA standards, not self-reported.

Open Banking via Plaid — FCA-authorised PI, read-only, customer-revocable
Structured circumstances: housing, household, dependants, vulnerabilities
Trained advisor review for non-trivial cases

Step 02

Assessment generated.

Context-aware, SFS-aligned, FCA-compliant output in under 200 ms. Every threshold is tuned to the customer's household composition and declared income — not a flat benchmark. Vulnerability indicators flagged automatically.

Context-aware — household, dependants, housing and declared income shape every threshold
Standard Financial Statement format with category limits enforced
Disposable income, affordable amount, FCA compliance flag
Vulnerability detection across gambling, BNPL, joint accounts

Step 03

Share across creditors.

Consent-gated, audit-trailed retrieval by other creditors. The customer fills the assessment once, the rest of their creditor ecosystem reads it. The form-completion-fatigue problem ends here.

Explicit customer consent per receiving creditor
Immutable audit log of every access
90-day default expiry, customer-revocable at any time

Built for the affordability ecosystem.

From banks to charities — infrastructure for everyone in the affordability lifecycle. Banks today, the rest of the ecosystem on the roadmap.

Starting here

Banks & Lenders

FCA CONC 5.2A ready. Sub-200 ms response. Embedded in your existing customer journey.

Q2 2026

Local councils

£6.6B council tax arrears. Multi-creditor coordination across services.

Q2 2026

Water companies

Ofwat affordability mandate live since Feb 2024. PR24 readiness.

Q3 2026

Energy suppliers

Ofgem affordability mandate live since Nov 2025. Vulnerability-aware.

Q4 2026

Debt charities

400+ orgs in the UK. Reduce assessment time by ~70%, free up advisor capacity.

Built by someone who lived the problem.

“I spent two years conducting affordability assessments at Monzo, Nationwide and Severn Trent. I watched customers fill out the same form for the fifth time when they were already under financial stress. I saw repayment plans fail because no creditor saw the full picture. I built Veqtrx because nobody else was solving this at the infrastructure level.”

Vaibhav K · Founder

Multi-sector collections experience · Monzo, Nationwide, Severn Trent
Cranfield University · MSc Engineering + MSc Management
FCA-aligned product design from operational experience
Built Veqtrx from the problem inward, not the technology outward

View LinkedIn profile

Production-ready. Compliance-first.

Specific claims, not vague badges. Every pillar maps to a regulatory framework or named technology.

Open Banking-verified

Plaid-powered, FCA-authorised Payment Institution. Read-only, customer-revocable. Verified transaction data, not self-reported.

Zero-knowledge

AES-GCM-256 with PBKDF2 (600k iterations). Server can't read your numbers without customer-held keys.

SFS-aligned

Standard Financial Statement format. Category limits enforced. Compatible with creditor templates UK-wide.

UK GDPR

Consent-based (Art 6(1)(a)). Right to revoke. 90-day default expiry. Customer-controlled sharing.

Audit-trailed

Immutable version history. Logged agent access. Every retrieval recorded with timestamp and recipient.

Security you can verify.

We publish the code, the architecture, and the threat model. Read it. Diff it. Test it. The zero-knowledge claim is not marketing — it's a property of the published code.

Zero-knowledge by design

Customer data is encrypted in the browser with a key the server never sees. No master key. No admin override.

Open-source crypto layer

The actual encryption code in your browser is public on GitHub under MIT. Diff it against what production ships. We did.

Independent audits planned

Cyber Essentials Plus Q4 2026 · pen test Q3 2026 · SOC 2 Type I Q1 2027 · external crypto review Q2 2027.

Bring-your-own-keys (BYOK)

Enterprise tier: wrap our DEKs under your own KMS root. A second decrypt path gated by your security team.

Affordability infrastructure for UK lenders, utilities, and councils.