Moniepoint Inc. has entered into a partnership with tell.money as the African fintech company accelerates its expansion into the United Kingdom’s financial services market and strengthens payment security infrastructure for cross-border remittances.
The partnership will enable Moniepoint to implement the Confirmation of Payee (CoP) account name-checking service, a key compliance and fraud-prevention framework within the UK banking ecosystem designed to verify recipient account details before payments are processed.
The collaboration will be executed through Monieworld, also known as Moniepoint GB, the company’s remittance platform targeted at Africans living and working abroad, particularly Nigerians resident in the UK.
The CoP integration is expected to improve the reliability and security of Moniepoint’s UK payments infrastructure by reducing the risk of misdirected transfers and fraudulent transactions while ensuring compliance with regulatory standards applicable to newly authorised financial firms operating in the UK market.
Monieworld, which was launched slightly over a year ago, enables UK residents to send money directly to Nigerian bank accounts using multiple payment channels including Monieworld wallets, British bank accounts, debit and credit cards, Apple Pay, and Google Pay.
Under the partnership arrangement, tell.money will provide the underlying account verification infrastructure powering the recipient name-checking process across the Monieworld platform.
According to the companies, the partnership was driven by tell.money’s ability to deploy the infrastructure rapidly, securely, and with minimal operational disruption, enabling Moniepoint to meet UK compliance requirements while focusing on customer acquisition and product expansion.
Ravi Jakhodia, CEO of Monieworld, said the partnership aligns with Monieworld’s broader vision of building seamless and trusted financial services solutions for Africans in the diaspora.
“Our goal with Monieworld is to build financial services for Africans in the diaspora, starting with Nigerians in the UK,” Jakhodia said.
“We want to make it easier for people to support loved ones, invest back home, and manage cross-border finances with confidence. This partnership with tell.money helps us build that experience securely and seamlessly,” he noted further.
He added that the decision to partner with tell.money was influenced by the company’s ability to simplify the complex compliance processes associated with Confirmation of Payee regulations.
“We selected tell.money as our preferred partner because it gives us the clarity and flexibility we needed to meet Confirmation of Payee requirements without unnecessary complexity.
“By taking on the full weight of CoP compliance, from setup and accreditation to ongoing monitoring, tell.money allows us to focus on what matters most: serving our customers and building a trusted financial service,” he explained.
For Moniepoint, the partnership represents another major step in its international growth strategy, as the company seeks to extend its financial ecosystem beyond Africa and deepen engagement with diaspora communities that rely heavily on remittance services.
The African remittance market remains one of the fastest-growing segments within global financial services, driven by rising migration, digital payment adoption, and increasing demand for faster, lower-cost cross-border transactions.
David Monty, CEO at tell.money, said Moniepoint’s clarity of vision and scalability ambitions made the partnership strategically aligned.
“Moniepoint is clear on what it wants to deliver and how it wants to scale. Our job was to provide the access layer that fits around that, not the other way around. We focus on making things work cleanly, reliably and without the noise,” Monty said.
He further noted that newly authorised financial firms entering the UK market increasingly prefer infrastructure providers capable of delivering regulatory-ready solutions without creating heavy operational burdens.
“Newly authorised firms entering the UK market are choosing infrastructure that is ready to go, with minimal internal lift. In Moniepoint’s case, it meant staying focused on what they are best at, serving their customers, while knowing their regulatory requirements were handled,” Monty added.
Since launching Monieworld last year, Moniepoint said the platform has gained rapid traction among Nigerians in the UK due to its speed, reliability, and ease of use in facilitating transfers to Nigeria.
The remittance service builds on Moniepoint’s broader presence within Africa’s fintech ecosystem, where the company currently powers payments, banking services, credit solutions, and business management tools for more than 20 million businesses and individuals globally.
