Latest news with #businessclients
Daily Mail
16-07-2025
- Business
- Daily Mail
Workspace faces occupancy slump as major clients prepare to vacate
Workspace Group is preparing for more major business clients to vacate after the flexible office space provider saw occupancy levels fall in the first quarter. The business told investors on Wednesday it saw more 'larger customers vacating' in the three months to 30 June, with further larger-scale clients expected to vacate in the second quarter. 'Our immediate focus remains on stabilising and, over time, rebuilding occupancy', Lawrence Hutchings, chief executive of Workspace, said. Like-for-like occupancy slipped 0.3 per cent in the quarter to 82.2 per cent. The London-focused group said its like-for-like rent per sq. ft. was 'stable' in the first quarter, at £47.42. The group saw 278 new lettings completed in the quarter, with a total rental value of £7.1million per year. It leased a monthly average of 93 new office spaces in the period, compared to 102 spaces in the previous year. Workspace has seen property valuations fall since the pandemic, as businesses ditched larger office spaces and opted for hybrid work models. The company has been disposing underperforming assets and investing in refurbishing other units to retain occupants. Hutchings said: 'As expected, occupancy declined slightly in the quarter and we have more large vacations to come in Q2. 'We have made good progress implementing the pilot projects at two of our high conviction sites, Vox Studios and The Leather Market, to test capital-light, high impact upgrades to our product. 'We have also seen success in leasing up some of the larger spaces thanks to more targeted marketing initiatives. 'We are confident that these strategic actions, once rolled out more widely across the portfolio, will help us retain and attract more customers.' The group said it had a 'robust' balance sheet with £267million of cash. The company leases space to small businesses ranging from fintech firms to podcasters and people using AI to write music. It owns a portfolio of about 70 properties across London and the south-east of England, providing office space to more than 4,000 businesses. In May, Workspace cut its profit expectations for the next year, citing increased churn of large occupiers and higher costs. Workspace shares fell 1.01 per cent or 4.00p to 393.00p on Wednesday, having fallen over 37 per cent in the last year.
National Post
08-07-2025
- Business
- National Post
FV Bank Introduces Virtual Accounts for Enhanced Fund Attribution in International and Domestic Payments Transactions
Article content SAN JUAN, Puerto Rico — , the U.S. licensed digital bank offering a vertically integrated suite of traditional and digital asset banking and custody services, today announced the launch of its new Virtual Account feature, empowering business clients to automate and streamline the attribution of incoming international payments with unique, dedicated account numbers. Article content With this feature, FV Bank customers can now pre-generate virtual account numbers for each of their clients or counterparties, enabling seamless automation of incoming payment attribution. Businesses can assign a unique virtual account number and deposit instructions to every client, ensuring that when a client sends a SWIFT wire, ACH, Domestic Wire or USDC Stablecoin to this virtual account, FV Bank automatically tags and attributes the deposit to the underlying counterparty. Article content This solution addresses a longstanding challenge faced by businesses that receive payments from large customer bases of our clients or counterparties. Traditionally, matching incoming deposits to specific customers has been a time-consuming and error-prone process, often requiring manual reconciliation and creating operational overhead. FV Bank's Virtual Account feature eliminates these inefficiencies, helping businesses reduce reconciliation errors, minimize manual tracking, and make management of high-volume receivables processing more scalable. Article content This Virtual Account structure also significantly improves FV Bank's compliance controls through enhanced KYCC (Know Your Customer's Customer), enabling FV Bank to improve its transactional monitoring and KYC structures. Article content Key features of the Virtual Account solution include: Article content 'Our mission at FV Bank is to bring integrated accessibility and efficiency to modern banking,' said Miles Paschini, CEO of FV Bank. 'With the launch of Virtual Accounts, we are addressing a real pain point for our customers—automating the attribution of incoming funds and eliminating manual reconciliation, while materially improving our compliance capabilities. This feature empowers our clients to scale their operations with confidence, while maintaining the transparency and control they need in today's fast-moving global economy.' Article content A wide range of businesses stand to benefit from this solution, including: Article content Regulated businesses such as law firms, asset managers, and fintechs that require clear segregation and attribution of incoming client funds Marketplace and platform businesses, exchanges, and payment processors that need to efficiently reconcile high volumes of incoming payments Article content FV Bank continues to deliver forward-thinking solutions that help businesses operate more efficiently and securely in the global digital economy. Article content About FV Bank Article content FV Bank is a fully licensed and regulated U.S. digital bank offering a vertically integrated suite of digital asset and traditional banking services. With a focus on innovation, security, and compliance, FV Bank is Banking the Future by providing USD banking, digital asset custody services, money market accounts, Visa debit cards, and Stablecoin deposits and conversions, all accessible via a single, unified platform. Article content Article content Article content
