Toqio wins PAY360 Award
On the evening of Wednesday 06 October at the annual PAY360 Awards (in association with Mastercard), Toqio and client firm Crealsa won the award for “Best B2B/B2C Banking Initiative”.
The event saw many of the fintech industry’s most innovative companies in attendance. The category was open to regulated deposit-taking institutions or e-money firms or equivalent by their relevant local regulator, including both retail and business banking.
The award underscores the validity of Toqio’s business model as a full SaaS fintech platform and gives credence to our conviction that buying a simple and effective solution is simply a better option than building in-house.
The project came about when Crealsa approached us because they faced a number of challenges to scale their operations, even though they had built a strong brand and rapidly established themselves as a market leader in Spain in the invoice financing market. Clients were transactional and tended to jump between providers to get the best offer. Crealsa believed that providing a platform with a wider set of financial products that would allow their clients to interact with them on a daily basis, and automating the financing application process would give them a huge advantage.
Crealsa approached us right around the time they had priced out their solution, and immediately recognized us as a business case and timeline game changer. They understood that not only would they be live in the market almost a year earlier than planned, they could do so with a much wider product set. With Toqio, Crealsa was able to launch a full challenger bank solution to market, differentiated from the competition by their core SME lending expertise.
The project was a smashing success, as recognized by The Payments Association at the gala. In attendance from Toqio, and looking quite chic in black-tie, were Akinkunmi Akinyanju, James Brennan, Megan Brand, Patrick Whyte, Matthew Stephens, Henry Turpie and Christian Ball, with Michael Galvin, Toqio’s CCO, receiving the award on behalf of the company.