The VRS sole purpose is to protect consumers and provide organisations with a tool to complement their regulatory and social responsibilities around dealing with vulnerable people at a particular point in their lives.

The VRS empowers vulnerable consumers to either self-exclude themselves from credit and financial promotions or to slow down the credit application process by choosing a refer flag. An authorised third party with the consumer’s consent and acting in the consumer’s best interest can also take the appropriate flag action. All Users of the VRS must respect the consumer’s wishes with regards to credit applications.

The VRS is a Creditor (User) accessed platform that provides vulnerable consumers with a single reference point for recording their personal wishes at a given point in time when they are looking to protect themselves against further debt or related financial problems. Identified vulnerable consumers can request that their creditor registers their wishes via a simple flag on the VRS register.

Users of the register that identify a vulnerable consumer flag simply follow the vulnerable consumer’s wishes by taking the appropriate flag action.

The VRS benefits vulnerable consumers by allowing consumers who know their vulnerability best to protect themselves at any given time.