As an experienced entrepreneur who has built successful global ventures over the past 22 years, Eduardo Martinez Garcia, the CEO and Co-Founder of Toqio, an embedded finance SaaS platform, offers a unique perspective on the tech innovations and industry trends that have captured his attention. In this interview, Eduardo shares his insights on the transformative impact of generative AI, the rise of embedded finance, and his vision for the future of the industry. He also discusses his dream brand to collaborate with, providing an engaging and insightful look at the evolving landscape of finance and technology.
What’s been one of your favourite tech innovations in the last year?
I would agree with most of the people in the impact that generative AI is having on our companies and lives. We have already implemented some solutions in our company which are helping us to drive efficiency, and we can see that the way we are going to work in the future will change (quite likely for the better) as a result of it.
I’m eager to witness the impact of generative AI on the health industry. I believe that data and generative AI will be crucial in advancing surgical and medical progress.
What is one trend you foresee will change up the tech world in the next year?
Embedded finance, no question about it. The concept of it has been around for some time in digital consumer products. Many apps offer payments using credit cards, on-the-spot lending, buy-now/pay-later (BNPL) schemes, and a variety of other features. Embedded finance, however, is making its way into the corporate ecosystem and is set to reshape the financial landscape completely.
Slowly but surely, we’re seeing embedded finance creep into corporate offerings, including distributor payment processing, lending services to suppliers, providing supply chain financing, and a host of other implementations. The use cases are infinite yet they all seek to accomplish the same basic goals, namely to streamline B2B processes, minimize risk, and improve business relationships. When the high level of adoption of consumer embedded finance carries over to the B2B space, then we’re genuinely looking at the next big thing.
Overall, corporate embedded finance is set to deliver tremendous value. There is an emerging opportunity for companies to capitalize on, worth an estimated USD 3.7 trillion over the next five years. In fact, more than 50% of businesses have expressed the need and desire for cash flow financing vehicles through a platform as opposed to their bank, according to a McKinsey report.
One of the key advantages of corporate embedded finance is that it allows businesses to leverage their existing customer relationships and distribution channels to offer financial services. Corporate embedded finance can also help to lower the cost of financial services, by exploiting existing infrastructure and distribution channels, as well as simply the size of a large venture that has a better shot at negotiating favourable conditions with banks or financial service providers
What is a dream brand you would like to work with, and why?
There are many great companies and brands out there. We love our customers, and being from Madrid, Mahou San Miguel has been my favourite beer for a long time, hence being able to help them with their embedded finance propositions to bars and restaurants fills us with pride.
We are excited to collaborate with global incumbent banking institutions to assist our customers in overcoming working capital and liquidity challenges within their merchant ecosystems. By doing so, we aim to demonstrate that the creation and consumption of financial products have evolved. Success in this new era relies on collaboration, data expertise, and sector-specific knowledge. Therefore, fostering collaboration between banks (which remain crucial in financial markets), corporates, and SMEs is a vital recipe for success.
If you could change one thing in the industry, what would it be?
Exploring more efficient approaches to tackle complex regulatory challenges. We strongly support efficient and simplified rules and supervision in the financial industry, and we understand that as the sector evolves, there are always new challenges that it faces. Having a clear framework for working with financial institutions to simplify embedded finance is not only critical for the industry, but also for the economy as a whole. Financial ecosystems play a crucial role in market efficiency.
And finally, if you could invent any piece of technology, what would it be?
It’s possible that age has something to do with it, but I’ve been increasingly fascinated by health and the importance of maintaining it. I am excited about new devices that can measure our body metabolism in real-time. These devices will analyze the impact of our actions and provide guidance on how to improve ourselves.
The convergence of tech and brands 