Virtual Lease Services (VLS) has rebranded to Banking Works, following a two-year transformation programme that has seen an investment in people, new technology platforms and data science.

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.

Managing director 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.

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

Ikonomides added: “Our move to the new Banking Works brand is the outcome of an intensive programme of digital and operational transformation.”

Based in North Wales, the firm’s client partners currently include Klarna, Close Brothers and British Business Bank, supporting their day-to-day finance operations.

Responsible for close to £1.6 billion in assets under management, the company is part of NETSOL Technologies, a global provider of IT and enterprise software solutions.

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