Embedded finance is reshaping how businesses enhance their core offerings, allowing companies to integrate financial services directly into their products to improve customer engagement. To delve into this transformative field, we spoke with Kunal Galav, VP of Product at Toqio, a pioneering platform making embedded finance accessible through user-friendly, fully configurable solutions.
As part of Toqio’s executive team, Kunal is building powerful tools that empower companies to create financial services experiences that matter. With experience at both major corporates and scale-ups—including HSBC and Credit Suisse – Kunal offers a unique perspective on how embedded finance is moving from concept to value-driven reality and the broader challenges in today’s tech and finance landscapes.
Kunal sees embedded finance as a powerful strategy for companies to differentiate themselves by adding tangible value to their customer offerings. “Embedded finance has been a buzzword for years, but now we’re seeing business cases where it truly impacts the bottom line,” he explains. “What Toqio does is enable companies to offer financial services that support their primary product offerings, creating a competitive edge.”
He illustrates the practical application: “Imagine a large beverage supplier offering its merchants access to cash flow visibility, financing options, or flexible payment terms. This not only supports the merchants operationally but builds loyalty and trust, which are essential for customer retention.” Toqio’s platform has helped clients see up to 20% increases in revenue by integrating financial services that meet their customer needs.
Beyond product and partnerships, Kunal highlights the ongoing challenges in sourcing skilled tech talent, especially for roles in data engineering and AI. “The tech talent market is still competitive, even amid economic challenges,” he says. “Professionals with AI skills, in particular, are in such high demand that they’re almost seen as unicorns. It’s not just about technical expertise anymore—there’s a need for alignment with a company’s innovation and customer focus.” Kunal also emphasises the need for tech talent to thrive in environments where they can engage in meaningful, high-impact work.
“Top candidates are looking for roles where they can be product innovators, not just coders. Companies need to empower engineers to tackle significant, customer-centric problems”
At the core of Kunal’s approach is the belief that engineers thrive when they can act as product developers. “Engineers are happiest when solving complex, impactful problems,” he explains. “When you reduce repetitive tasks and give them the right tools, they can truly focus on driving innovation that aligns with customer needs.”
This customer-centric approach is foundational to Kunal’s work at Toqio. “Engineers and product teams need to stay in sync with the customer journey. By empowering them to think like product designers, we’re not only meeting market needs but also fostering a culture of continuous innovation,” he says.
Embedded finance has long been a buzzword in the industry, but Kunal believes it’s entering a phase of concrete, measurable impact. “The goal is to help companies move from an ‘innovation project in embedded finance’ to implementing solutions that deliver real business results,” he says.
Toqio has focused on this transition, with proven ROI for clients across sectors. “We’re making embedded finance work by focusing on real-world applications and measurable outcomes. It’s about enabling companies to create financial service ecosystems that serve their unique business goals,” Kunal explains.
Looking ahead, Kunal is optimistic about the potential for embedded finance and technology to reshape customer engagement. “The opportunities for embedded finance are enormous,” he says. “But it’s crucial to implement these solutions in a way that genuinely enhances the customer experience.”
Kunal’s insights point to a future where technology and finance intersect to create unique, customer-centred business models. “It’s about offering financial solutions that feel seamless to the user, where the added services support—not complicate—the customer journey. For those in strategy and product development, the future will be defined by how well we can deliver this balance.”
Kunal Galav is a McKinsey alumnus with extensive experience in strategy, product, and partnerships. He has led global teams across organisations like HSBC, Credit Suisse, Mambu, and Toqio, driving growth through customer-centric strategies and analytically-driven decision-making. Known for his hands-on approach to scaling new ventures, Kunal continues to shape the fintech landscape with a focus on sustainable growth and innovation.
