The African -backed African Muniboint is treated from the transfer visa. But is the game late?

ENiORUNDA says Monieworld wants to help new immigrants stay in contact with the family and obligations at home while settling abroad. While there is little differentiation in the product or prices with regard to the first states (transfers), a quick look at the monieworld will appear specifically about offering better prices than other platforms.

But this in itself is not a trench and is often racing to the bottom. Even Eniolorenda agrees to: “We are not trying to say that we are here to be cheaper,” said CEO. “But since we already have a current technique, tackle bars, and have achieved savings in many places, it is a way we can be cheaper for our customers.”

MoniePoint spent years building infrastructure in Nigeria, from payments and cards to credit and compliance with companies, and recently retail consumers. Her argument is that this same group, which has been reused with immigrants, can provide greater value than independent transfer applications.

“We have provided easy -to -use products at reasonable prices in Nigeria, where we now provide payment services, credit programs, discount services and credit cards for our business and consumers.” “We have discovered that to complete the course, we can also provide this same group of services to our market but in the diaspora.”

Find its place in a crowded market

Transfers are the entry point. However, the long -term goal, he says, is to provide a broader set of financial tools such as credit building. It is vertical that has been launched in the United States over the past two years, where Digital platforms like zolve Helping migrants access to financial services, starting with credit as the sorry, not transfers (column It is a similar company in the United Kingdom).

“When you settle in a new country, you need to build a credit history. People try to discover them and find their foot in new countries, and if they can find a platform that understands their scenario and helps to build credit, it will be great for them,” said CEO.

Transfers from the United Kingdom 9.3 billion pounds increases In 2023. Nigerians were sent abroad to the house More than 20 billion dollarsAccording to the World Bank. It is a corridor in which many players can be present and have a share in the big market. However, with these players competing for pricing or speed – both are now – Eniolorenda believes only a few of them will be winners by providing a superior experience.

As MoniePoint deepens its local mark in African countries such as Kenya, it plans to launch the monieworld corridors of these diaspora in the United Kingdom, the United States or Canada, as is the next logical step. This model will allow a decade-old technology for its heavy operations in Nigeria by publishing its exposure-Eiologunda says on the field with investors during his last lifting.

However, the challenge is real: MoniePoint coincides with a strong competitive space, and it is still unclear amount of margin remaining to arrest him. While Eniologunda sees unavoidable monotheism in the future, profitable technical technology bets that its infrastructure, the knowledge of compliance, and deep cultural understanding will give it enough issue.

“When we started Muniboint and looked at the agency’s banking services, we felt as if we were entering late. But the market has grown, and we look at what we are now,” thinking about the late MoniePoint entering the banking agency in 2019, “said Enolorunda.