A UK-based Nigerian, Ayodeji Jegede, has launched a fintech platform, MoneyHive, aimed at addressing longstanding inefficiencies in diaspora remittances and cross-border bill payments.

MoneyHive is designed to integrate money transfers with direct settlement of services such as utilities, school fees and healthcare bills. Rather than routing funds solely to individuals, the platform enables payments to verified service providers and includes confirmation tools intended to improve transparency.

Jegede said his entry into the remittance space was driven by years of working on core banking infrastructure and witnessing recurring problems in how cross-border payments operate. He noted that despite rising global remittance volumes, “the systems supporting them remain fragmented,” often stopping at the transfer stage without addressing how funds are ultimately used.

He described the approach as one that gives senders “clear confirmation that payments were applied as intended.”

He said this structural gap creates uncertainty for senders. “There’s a disconnect between sending money and knowing exactly what happens after it arrives,” Jegede explained, adding that the lack of clarity often leads to repeated transactions and confusion within diaspora communities.

He added that personal experiences also shaped the platform’s development. “People sometimes resend funds simply because they’re unsure whether the first payment was used correctly,” he said, arguing that the challenge stems more from infrastructure limitations than user behaviour.

Jegede believes emerging technologies, including artificial intelligence, could strengthen compliance monitoring and fraud detection. “AI can help improve risk assessment and make payment networks more resilient,” he said.

He framed the platform’s broader ambition as improving transparency and accountability in diaspora transactions. “Remittances shouldn’t just be money transfers,” Jegede added. “They should represent structured economic participation across borders.”