🚀 Banking Works Launch – Press Release

Written by Banking Works, | Posted in News on 1 October 2020

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.

With a mission to give banks and lenders the platform to innovate and grow, irrespective of legacy systems and processes, its work during the pandemic has delivered proof of concept in a real-time environment.

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.

About Banking Works

Banking Works is a business with more than 20 years’ experience in solving challenges at every level of the financial services industry.

Based in North Wales and led by MD Louise Ikonomides, 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 £1.6bn in Assets Under Management, Banking Works’ expanded capabilities in consulting, platforms and intelligence will continue to support the industry’s biggest names in innovation and growth.

To find out more about how we deliver operational resilience, lower risk, world class customer experiences and genuine business agility visit banking.works

Banking Works is part of NETSOL Technologies, Inc. (Nasdaq: NTWK) a worldwide provider of IT and enterprise software solutions primarily serving the global leasing and finance industry.