MDC Business Management Services (MDC BMS), Mubadala’s multifunctional shared services company, has entered into a partnership with Crediti Fintech, a UAE-based fintech firm, to utilize the MoniMove platform for the digitalization of procurement and supply chain operations.
Under the deal, the capabilities of MDC BMS, a multifunctional shared services company delivering outstanding business management operations for clients within the UAE and Crediti Fintech, a fintech company revolutionizing the UAE’s trade and supply chain digitization through its award-winning platform, will be combined.
With MoniMove, which is operated in the UAE by management consultancy firm Protiviti, MDC BMS will examine how to seamlessly digitize and govern clients’ supply chain transactions through the blockchain-powered platform.
The platform will help clients to eliminate manual tasks, save time and cost while having access to real-time reporting and analytics, boosting transparency and enhancing governance. The suppliers will benefit from supply chain finance services, advanced digital delivery tracking and live site inspection tools.
Targeting extensive levels of transactions, this partnership will enable all partners to contribute to the UAE’s vision of supporting local small and medium-sized entrepreneurs (SME) and helping the national economy prosper.
“At MDC BMS, our first thought with a new partner is whether it will benefit our clients. By carefully examining MoniMove with Crediti Fintech, we can ensure that our digitalization strategy takes our procurement and supply chain services to the next level,” said Mr. Nasir Al Nabhani, Chief Executive Officer, MDC BMS.
“It’s a great milestone for us to partner with MDC BMS and have a shared vision of introducing operational trade governance and innovation in procurement, projects and supply chain operations. We have always been committed to offering continuous value to the economy, and the partnership with MDC BMS marks yet another step forward in the company`s vision to revolutionize the trade ecosystem in the UAE.”
“The UAE has been driving digital transformation as part of its economic development and diversification initiatives. We are excited to be part of this digitization journey through MDC BMS and we are keen to contribute to the country’s vision of creating and encouraging a robust fintech ecosystem,” said Dr. Hamad Al Ali, CEO of Royal Strategic Partners and Crediti board member.