Sidian Bank Launches Virtual Bid Bond Platform

Sidian Bank has launched an application that allows customers to generate bid bonds from anywhere, anytime and on any device.

Sidian Credible is a web-based application that responds to customers’ needs for convenience, efficiency and quick turnaround time which are critical in tendering.  Sidian Bank entered the trade finance space five years ago, making it one of its core areas.

The authenticity of the bid bonds generated is validated by a QR code embedded in the guarantee. In addition, the bid bonds are auto-signed by authorized signatories of the bank.

Head of Corporate Banking & Trade Finance, Ms Beatrice Kamiri, said that through trade finance solutions, the bank has seen many of its customers’ unlock their business potential, leading to timely application of bid bonds and saving costs. “The Sidian Credible platform aims to offer customers choice and convenience,” she said.

The solution is a departure from the manual process of securing bid bonds. In addition to responding to customer needs, the application aims at aligning with the government’s initiative and vision of e-procurement. The bank’s vision has been to be the preferred partner in realizing the entrepreneurial potential in the country and to enable entrepreneurs to create wealth through provision.

Sidian Bank Chief Commercial Officer, Tim Gitonga, said the product marks a new dawn and experience for Sidian Bank customers. “This has been as a result of fundamental rethinking and radical redesign of the current processes, placing the customer need for efficiency and timely solutions first,” said Gitonga.

 The solution is in line with the bank’s shift to reduce physical contact as part of Covid-19 control measures.

Sidian Bank Chief Executive Officer, Mr Chege Thumbi, said  Sidian Credible is a milestone that sets it apart in the trade finance business. “The product, therefore, goes a long way to affirm this position and to demonstrate our commitment to sustain this growth trajectory as we grow together with our customer businesses,” he said.

Next Read >> Why You Need to Ditch Mobile Money Now

Latest

Form 4 Leaver Who Makes Sh140,000 Monthly From Chapatis

Jepkoech, who started off with one packet of wheat flour a day, says she does a bundle per day, making Ksh4500 per day from chapatis alone. In addition, she sells tea and chips, which tops up her sales to Ksh5,500 per day, translating to about Ksh140,000 per month.

Perfectionism: Are You a Perfectionist?

Perfectionism can be defined as the propensity to think and believe that anything short of perfect is an abject failure while having concerns over mistakes and subjecting oneself to harsh and critical self-evaluations when the output fails to produce sought-after satisfaction and excellence. Am I a perfectionist?

Smart Doors: How You Can Control Access to Your House on Mobile

Many operators of Airbnb in Nairobi and other cities are using this technology to manage their clients access to accommodation and lodging facilities using smart doors and smart switches.

Fatal Accidents Report Reveals Most Dangerous Roads in Mombasa

The report, which spotlights roads with highest accident rates at the coast, offers chilling trends, including, among others, statistics that show significantly more men die in road accidents.

Follow Us

Newsletter

Don't miss

Lupita’s Little Brother Junior Nyong’o Charting His Own Path in Acting

Junior Nyongó, who is also a musician and a DJ and now a graduate of UC San Diego with an MFA in Acting, is crafting his own solid path in the world of acting with roles in major theatre productions.

Safaricom To Power Tusker OktobaFest Beer Festival

Safaricom’s involvement in OktobaFest as a technology and payments partner will focus on fostering seamless in-festival connectivity, empowering the youth and Gen Z community through Safaricom Hook, and powering digital payments through M-PESA.

Music Producers Launch Organization To Streamline Recording Industry

Recording Industry of Kenya (RIKE) was launched on 9th October 2023. Registered in 2022 as a not-for-profit organization, RIKE aims to promote the collective interests of producers of sound recordings in the country.

Nairobi’s Hero Bar Listed Among World’s 50 Best Bars

World Best Bars: Hero Bar in Nairobi continues to climb the list, moving up six places to No.62 and Johannesburg’s Sin + Tax comes in at No.94. Dubai new entry Ergo is at No.69 and Melbourne’s Byrdi has re-entered the list at No.61.

Kenyan DJs Face Off In Smirnoff Battle Of The Beats Season 3

The Smirnoff Battle of the Beats Season 3, a DJ competition, is poised to unleash an unprecedented musical frenzy countrywide.

The Highs And Lows Of Betty Kyallo, Sisters Show As Season 2 Ends

Kyallo Kulture has always been, above all, about sisterhood, and in Season 2 we have witnessed the charm of it - the ups that gave us wholesome moments as the sisters led by Betty Kyallo spent time together.

DStv Beats CNN, BBC To Become Most Admired Media Outlet In Africa

DStv, MultiChoice Group’s leading broadcast service, has been named...

MultiChoice Revises Subscription Fees For DStv, GOtv

MultiChoice has announced price adjustments on some of their...

Octopizzo: How I Make My Money

"I've been doing this for 12, 13 years. It reaches a point where you no longer need to prove that you can make a hit record," he stated.

New Spotify EQUAL Artist Qing Madi Talks Music and Dreams

Heavily influenced by her cultural background and the lyrical arrangements of Kendrick Lamar, the versatile Nigerian prodigy is shaping the future of music with her unique genre-bending fusion of Afrobeats, Pop, Soul and R&B.
BT Correspondent
BT Correspondenthttp://www.businesstoday.co.ke
editor [at] businesstoday.co.ke

Form 4 Leaver Who Makes Sh140,000 Monthly From Chapatis

Jepkoech, who started off with one packet of wheat flour a day, says she does a bundle per day, making Ksh4500 per day from chapatis alone. In addition, she sells tea and chips, which tops up her sales to Ksh5,500 per day, translating to about Ksh140,000 per month.

Perfectionism: Are You a Perfectionist?

Perfectionism can be defined as the propensity to think and believe that anything short of perfect is an abject failure while having concerns over mistakes and subjecting oneself to harsh and critical self-evaluations when the output fails to produce sought-after satisfaction and excellence. Am I a perfectionist?

Smart Doors: How You Can Control Access to Your House on Mobile

Many operators of Airbnb in Nairobi and other cities are using this technology to manage their clients access to accommodation and lodging facilities using smart doors and smart switches.

LEAVE A REPLY

Please enter your comment!
Please enter your name here