Protiviti and Monimove forges strategic partnership to provide next-gen credit utilization, supply chain and trade finance in the UAE
New alliance combines Monimove’s innovative platform with Protiviti’s technology and risk management expertise
Dubai, September 7, 2020: Protiviti Member Firm for the Middle East Region, a global consulting firm and Monimove, an award winning fintech solution provider, today announced a strategic alliance to empower the trade ecosystem with a fully digitized blockchain enabled platform for greater transparency reduced cost and increased investment protection.
The Monimove platform lays great emphasis on promoting and empowering SMEs, in accordance with the UAE’s National SME Programme, through better liquidity management, reduced disputes and increased focus on growing their business to play a larger role in the UAE economy.
“Our partnership with Monimove enables us to offer our UAE clients across public sector, financial institutions, capex intensive industries and diversified conglomerates, an end-to-end solution for efficient liquidity management, supply chain financing, and block chain enabled trading documentation”, stated Arindam De, Managing Director, Protiviti. He added that “This will help all the stakeholders in the ecosystem to minimize their credit and operational risk, bring in efficiency and cost savings, which is critical in the present economic environment.”
The partnership will look at leveraging Protiviti’s strong presence in the region and its expertise in the areas of technology, finance, blockchain, risk, compliance and business transformation to provide businesses and financial institutions with Monimove’s unique platform, to facilitate seamless transition and adoption for organizations and minimizes discrepancies in financial instruments and provides assurance on delivery and project completions.
Commenting on the alliance, Hashim Al Husseini, Managing Director, Monimove said, “With their in-depth understanding of business operations across industries and strong capabilities in the technology and business consulting domain, Protiviti is the most suited partner for us in the region.” He further added, “At Monimove, we view problems in supply chain and trade finance from multi stakeholders’ perspective. This approach has helped us in developing a solution that ensures full visibility of money movement on real time basis, meets necessary compliance obligations and enhances financial credibility.”
The platform is in line with the UAE Vision 2021 and National Innovation Strategy and helps prevent misuse of project and procurement funds that encourages local and international investors to participate in UAE’s economic growth.
This is issued on behalf of Protiviti
Protiviti (www.protiviti.com) is a global consulting firm that delivers deep expertise, objective insights, a tailored approach and unparalleled collaboration to help leaders confidently face the future. Protiviti and our independent and locally owned Member Firms provide clients with consulting and managed solutions in finance, technology, operations, data, analytics, governance, risk and internal audit through our network of more than 85 offices in over 25 countries.
Named to the 2020 Fortune 100 Best Companies to Work For® list, Protiviti has served more than 60 percent of Fortune 1000 and 35 percent of Fortune Global 500 companies. The firm also works with smaller, growing companies, including those looking to go public, as well as with government agencies. Protiviti is a wholly owned subsidiary of Robert Half (NYSE: RHI). Founded in 1948, Robert Half is a member of the S&P 500 index.
Monimove Limited (www.monimove.com) is a London based fintech company with regional offices in Dubai, Riyadh, New York and Amsterdam. Monimove is a FinTech Platform that was built using the advanced Technology, it utilizes Blockchain technology to support SMEs and National economies by providing End to End visibility, credibility, efficiency and complete ecosystem transparency to full supply chain management.
Founded in 2017 by Dr. Mansour Al Hussaini a leading entrepreneur with multiple successful businesses and it is worth noting that the Monimove platform will soon announce a major strategic alliance in some Gulf countries at the governmental level and plans to expand globally and grow each market individually.