COMPLIANCE-FIRST CROSS-BORDER PAYMENT RAILS
Verax is a compliance orchestration layer being built for regulated cross-border B2B payments. We are preparing an FCA Small Payment Institution application; fund movement and settlement will be executed by authorised third-party institutions once we are authorised.
WHAT WE'RE BUILDING (AND WHAT WE AREN'T).
Verax is a compliance orchestration layer. We are pre-authorisation. All regulated activity — payment execution, custody, fiat-conversion — will be performed by authorised third-party institutions. We build the decisioning, ledger and audit surfaces that sit alongside those rails.
Compliance Engine
Our core product. KYB, sanctions, PEP, adverse media and dual-use screening scored in parallel, each decision logged to an immutable audit trail designed for FCA examiner replay.
Settlement via Authorised Partners
Post-authorisation, SWIFT and SEPA settlement will be executed by a UK-authorised correspondent. Verax itself does not and will not hold client money — funds route through the partner's safeguarded accounts.
Stablecoin Ingress (Designed)
Planned stablecoin pay-in with onward fiat settlement via authorised liquidity partners. Crypto custody and fiat conversion will be provided by regulated third parties; Verax provides the compliance and reconciliation layer.
DESIGNED FOR REGULATOR SCRUTINY.
Every framework we describe below is drafted against FCA and JMLSG expectations. We are pre-authorisation; none of these controls are yet live against customer traffic. The below describes the system Verax is building to meet the authorisation standard.
Designed to the FCA standard
Our policy stack, systems, and controls are drafted against the FCA Small Payment Institution regime — SYSC, SMR&CR, MLR 2017, PSR 2017 safeguarding. Authorisation is not guaranteed; application anticipated H2 2026.
Partner-led safeguarding (post-auth)
Verax Systems Ltd does not and will not hold client money. Once authorised, client funds will sit in safeguarded accounts held by our authorised payment partner, in line with PSR 2017 §23. Our ledger reconciles to the partner's statements.
Operational resilience design
Multi-AZ PostgreSQL RDS, S3 Object Lock retention, Terraform IaC, KMS encryption, OpenTelemetry traces. We are mapping our controls against the Bank of England / FCA SS1/21 framework in anticipation of regulatory expectations.
Audit-ready ledger (test env)
Every compliance decision and ledger entry is stored with a hash chain and 6-year retention window. The design objective is that an examiner can replay any decision post-authorisation with its full reasoning trail.
Sub-second decisioning (target)
KYB, sanctions, PEP, adverse media and dual-use screening designed to run in parallel with a target p95 under 1000ms. Figures we publish today are measured on our internal staging environment, not live customer flow.
SAR workflow design
Draft Suspicious Activity Reports are generated from case evidence for MLRO review. SARs will only be filed post-authorisation by a named MLRO (SMF17) following POCA 2002 and the JMLSG guidance; no SARs have yet been filed by Verax.
Verax Systems Ltd is not currently authorised by the FCA; authorisation is applied for, not guaranteed.
OPERATORS WHO'VE SHIPPED BANKS
Senior backend engineer at Data Monsters (an NVIDIA Elite Partner). Previously a lead engineer at a US digital-banking platform with nine-figure monthly volumes. Architect of the Verax core ledger, compliance engine and MLRO console.
- •Senior Backend Engineer at Data Monsters (NVIDIA Elite Partner)
- •Ex-lead engineer, US digital-banking platform (9-figure monthly volume)
- •Architect of the Verax compliance engine and ledger
- •10+ yrs UK fintech AML experience
- •Previously MLRO at FCA-authorised PI / EMI
- •ICA Diploma (AML) or equivalent
- •Scaled payments at Wise / Revolut / Currencycloud tier
- •Deep Postgres + distributed systems
- •Regulatory-grade security posture
We are in active conversation with a small group of UK fintech and banking veterans in compliance, operations and commercial roles. No advisor is under contract yet; any named advisor will be introduced only after the advisory agreement is signed.
NO TESTIMONIALS. JUST FILINGS.
Every claim on this page maps to a public filing, a draft policy, or a line of source code in the data room. We label what's live, what's designed, and what's targeted — so nothing is inferred.
“Every control envisaged in our FCA application is mapped to a commit, a test and a runbook, so that once we are authorised an examiner can trace a policy line straight to a deployed binary.”
INVESTOR INFORMATION.
SOPHISTICATED / HNW ONLY.
Information about Verax's seed fundraising is not a financial promotion to the general public. It may only be communicated to, or acted on by, persons who qualify as investment professionals, certified high-net-worth individuals, or certified / self-certified sophisticated investors under Articles 19, 48, 50 and 50A of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005. Capital is at risk; tax treatment depends on individual circumstances and may change.
Before we can show you round terms
Confirm one or more of the following to continue. You acknowledge that you have read the risk warnings in our Risk & Regulatory Notice, that Verax Systems Ltd is not currently FCA-authorised, and that any investment in an early-stage company carries a material risk of total loss.
- Investment professional (FCA-authorised firm or employee)
- Certified high-net-worth individual (Art. 48 / Art. 21)
- Certified or self-certified sophisticated investor (Art. 50 / 50A)
- I understand that my capital is at risk and that tax relief depends on personal circumstances.