Quotevine, a provider of software and IT services for the UK asset finance sector, has changed its name to QV Systems, signifying the evolution of the company and its future direction, the company said in a press release.

The name change symbolises the maturity of the company and the strengthening of its position as a dedicated company looking to help businesses become future-ready, it said.

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Alongside the name change, QV Systems has also renamed its innovative solution, previously known as the Quotevine Platform. QV Systems now reintroduces this as Accelerate: highlighting the flexible, cloud-based nature of the solution and ensuring that the middle and back-office functions of the solution are not overlooked, the company said.

Daniel Layne, QV Systems chief executive, said: “As a business that strives to innovate, we are constantly looking for ways to benefit the industries we operate in. Our current and future customers and partners need to feel confident when they’re looking for solutions that will prepare their business for the future. That’s what we’re committed to providing, and the rebrand will help us communicate the breadth of our offering more effectively”.

“We’re going to continue our growth, expanding our offerings to our clients, working alongside them to offer tailored solutions which prepare them for the digital future whilst ensuring they remain compliant with upcoming regulatory changes” Daniel continued. “This rebranding highlights our growth as a business and strengthens our company position, allowing us to transition QV Systems into a new era in which we accelerate a brighter future for financing.”

In November, QV Systems announced a partnership with AccountScore, a London-based analytics firm, in an effort to reduce brokers’ administrative workload.

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The company said the partnership aims to simplify the process for commercial proposals by tapping into Open Banking legislation in the UK.

When it was passed in 2018, the law forced the UK’s biggest banks to release their data (when authorised by their clients to do so) so that it could be shared by third parties online, who can use it to create new products.