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.