RecoupIQ • UK Merchant & Counterparty Risk Infrastructure
Executive Risk Briefing: TrueLayer
UK Entity: TRUELAYER LIMITED (CRN: 10278251) • Segment: Payment Gateways, Rails & Embedded Banking
Prepared for Leadership: Francesco Simoneschi (CEO) • Luca Martinetti (CTO)
CONFIDENTIAL BRIEFING
Prepared by Alex • Founder, RecoupIQ
Statutory Accounts Basis: FYE 31 December 2024
What RecoupIQ Offers TrueLayer • At a Glance
Stop UK Merchant Defaults & Section 75 / Chargeback Write-Offs Before Payout Leaves Your Bank
1. What We Provide
<150ms Pre-Payout Gate
Pass any UK CRN before T+1 payout, reserve release, or advance. Returns ALLOW, HOLD, or BLOCK with a SHA-256 audit certificate.
2. Why You Need It Now
30–60 Days Ahead of Bureaus
Experian/Creditsafe & card fraud tools miss live London Gazette Rule 7.10 Winding-Up Petitions, Section 127 void dispositions, and sudden director resignations.
3. Modeled Value
£94k–£139k / yr
Modeled against TrueLayer’s £400k audited impairment & £342k provisions.
4. How To Start & Cost
£0 Backtest → £1,495/mo
Test 10–50 past merchant write-offs for £0 today. Production shadow pilot is £1,495/mo (or £0.05/check) with zero lock-in.
The Settlement & Default Timing Gap: Across both B2B (merchant cash advances, trade credit, corporate payouts) and C2B (consumer card acquiring, BNPL, POS retail finance, and Open Banking checkout), when a UK merchant collapses, legacy credit bureaus update 30 to 90 days late. During that window, TrueLayer continues sweeping T+1 payouts or carrying unhedged consumer Section 75 / Visa & Mastercard “Services Not Rendered” chargeback liability against an insolvent UK limited company. RecoupIQ closes this window with a synchronous
<150ms pre-payout and pre-onboarding gate across 5.3M UK companies.1. Statutory Risk Profile & Modeled Annual Savings (TRUELAYER LIMITED)
Audited P&L Impairment
£400k
Source: Note 1.7 (Impairment of financial assets policy), Note 2 (Bad debt provision policy)
Balance Sheet Provisions
£342k
Source: Note 14 (Provisions for liabilities)
15% Loss Pre-emption
£60k – £88k
Annual bad-debt & chargeback avoidance
Total Annual Benefit
£94k – £139k
Combined EBITDA + IFRS 9 reserve release
Audited Turnover & Result: £17,632,133 • Operating Result: (£43,168,339) • Net Result: (£41,272,030)
Wholesale / Senior Debt Facilities: Not explicitly disclosed as a specific total borrowing amount or detailed bank facilities. However, the company's bankers have a fixed charge over certain bank accounts held by the company (Note 19).
Statutory Audit Note Disclosure: Customer Default Risk: The primary credit risk arises from the recovery of trade debtors. Management of this risk is ongoing, including credit checks of new customers (Directors' Report, page 7). The directors consider factors such as potential prevailing economic conditions and their impact on customers when determining if a bad debt provision is required (Note 2, page 21).
Merchant Settlement Risk / Chargeback Exposures: These specific risks are not explicitly detailed. However, the company safeguards merchant funds in segregated accounts in accordance with the Payment Services Regulations 2018, holding £14.5m as at 31 December 2024 (Note 24), implying handling of client money.
General Risks: The Strategic Report (page 4) highlights Compliance & Regulatory risk (FCA regulated, governance, capital, liquidity, consumer protection, anti-financial crime requirements) and Cyber risk (operational disruption, customer detriment, financial loss, reputational damage from cyber-attacks).
2. What Payment Teams Use Today vs. Why Merchant Collapses Still Slip Through
| Existing Tooling Layer | What It Checks | The Structural Blind Spot | How RecoupIQ Closes It |
|---|---|---|---|
| 1. Legacy Credit Bureaus Experian, Creditsafe, Equifax, Dun & Bradstreet | Day-0 onboarding KYB & static annual balance sheets | 30-to-60 day batch lag on Gazette Winding-Up Petitions, High Court claims, and director resignations (TM01) | Day-1 Court, Gazette Rule 7.10 & Companies House streaming triggers before T+1 payout |
| 2. Transaction Fraud Engines Stripe Radar, Adyen RevenueProtect, Sift, Featurespace | Stolen consumer cards, BIN velocity, device fingerprinting | Zero visibility into whether the UK merchant (CRN) receiving the payout is about to enter liquidation | Scores the UK corporate counterparty (CRN) in <150ms (`ALLOW` | `HOLD` | `BLOCK`) |
| 3. Open Banking Consents Plaid, TrueLayer, Yapily AIS feeds | Merchant bank account balances (when connected) | 90-day OAuth re-authentication drop-off; distressed directors revoke bank feeds first | Zero merchant consent required; 100% continuous coverage across all 5.3M UK companies |
3. Commercial Pricing & Unit Economics (30x+ Single-Collapse ROI)
Step 1 • Proof of Value
£0 Historical Backtest
Test 10 to 50 of TrueLayer’s past merchant write-offs or chargeback defaults right now. We show the exact date RecoupIQ would have triggered
HOLD or BLOCK prior to collapse.Step 2 • Shadow Pilot / Growth API
£1,495/mo (or £0.05/check)
Includes 30,000 synchronous pre-payout checks/month + daily Gazette Rule 7.10, CCJ & director-exodus webhooks across your active UK merchant book.
The Payback Math
1 Intercept = 32x ROI
Preventing a single mid-sized UK merchant default or C2B chargeback wave (£48,500–£85,000 average loss) pays for 2.5+ years of the RecoupIQ API on day one.
Direct Founder Access • Zero NDA Required to Test
Run a 60-Second Backtest or Speak Directly With Alex
Paste 10 to 50 UK Company Registration Numbers (CRNs) into our self-serve backtest workbench, or email contact@recoup-iq.tech with your phone number and Alex will call you directly for a 10-minute walkthrough of TrueLayer’s statutory exposure model.