VLS announces rebrand to ‘Banking Works’ following transformation project and Covid support

One of the UK’s most established outsourcing partners to the banking and lending community has launched an exciting new brand and service proposition to market.

Virtual Lease Services, known to many in the finance community as VLS, has rebranded to Banking Works.

Following a two-year transformation programme that has seen an investment in people, new technology platforms, insight and data science, the reinvigorated business expedited the launch of several of its new services in a rapid response to the Covid pandemic.

As the lending market continues to deal with an unprecedented demand to originate and restructure financial agreements, Banking Works has deployed a suite of technologies for its clients that facilitate rapid data processing, decisioning and robotic process automation (RPA) to drive better customer outcomes.

MD Louise Ikonomides said: “As a company we have pivoted through a number of business cycles, adapting alongside volatile market conditions, changes in technology and the evolving requirements of financial services businesses. Never has that been more evident than with this rapid deployment of new platforms and services to our clients.”

“These combining factors are altering the way businesses and consumers access services.  It means exposure to a wider range of financial products – at speed – that fit tightening budgets, all the while providing greater security and control to enable data-driven decision-making.”

“Our move to the new Banking Works brand is the outcome of an intensive programme of digital and operational transformation. Under Banking Works and its new propositions, we’ll enable our clients to deliver faster innovation, greater customer experiences and to respond rapidly to changing market dynamics.”

For lenders and other financial services partners, Banking Works is transforming the relationship and route to market with customers and is removing the millstone of legacy processes and systems to enable innovation and organisational evolution.