Moniepoint Inc. (“Moniepoint” or the “Company”), Africa’s all-in-one financial ecosystem platform for individuals, businesses, and their customers, today announces a partnership with tell.money, a UK-based open banking SaaS platform.
The partnership enables Moniepoint to implement the Confirmation of Payee (“CoP”) account name-checking service. Access to the CoP service enhances the reliability of Moniepoint’s UK payments infrastructure and is a key milestone for the Company’s expansion into the UK financial services market.
The partnership will be delivered through Monieworld, Moniepoint’s remittance platform for Africans living and working internationally. Monieworld, also known as Moniepoint GB, is a subsidiary of Moniepoint Inc. The platform, launched just over one year ago, enables UK residents to send money directly to Nigerian bank accounts through multiple payment methods, including Monieworld accounts, debit and credit cards, British bank accounts, Apple Pay and Google Pay.
Tell.money will provide Moniepoint with name-checking infrastructure on the Monieworld platform, verifying account details of payment recipients before transactions are processed; reducing the risk of misdirected payments and protecting users against fraud. This meets UK compliance and payment security requirements for newly authorised firms operating in the market.
Moniepoint selected tell.money to deliver this infrastructure due to tell.money’s ability to offer a solution which could be deployed quickly, securely, and with minimal operational lift.
Ravi Jakhodia, CEO of Monieworld, said: “Our goal with Monieworld is to build financial services for Africans in the diaspora, starting with Nigerians in the UK. 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.
“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.”
David Monty, CEO at tell.money, added: “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. 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.”
The partnership supports Moniepoint’s continued international growth strategy. Since launching last year, Monieworld has quickly gained recognition for its speed and reliability, becoming the preferred remittance platform for Nigerians in the UK.
The remittance product is backed by Moniepoint’s proven track record in Africa’s financial services ecosystem. Today, Moniepoint powers payments, banking, credit, and business management tools for over 20 million businesses and individuals worldwide through its integrated platform, establishing itself as one of Africa’s largest distributors of financial services.
