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Sidian bank expands trade finance market, unveils online bid bond platform

By Moses Omusolo | October 23rd 2020 at 07:15:00 GMT +0300

NAIROBI, KENYA: Sidian Bank has launched a web-based application that allows customers to generate bid bonds from anywhere on any device.

The self-service platform named Sidian Credible aims to enhance convenience, efficiency and quick turn-around time, which are critical in tendering.

Trade finance has been one of Sidian Bank’s focus areas for the last five years.

“Through trade finance tailor-made solutions, the bank has seen many of its customers’ unlock their business potential leading to timely application of bid bonds and saving costs while others have spread wings across the African region,” said the head of Corporate Banking and Trade Finance Beatrice Kamiri.

The solution is a departure from the manual process of securing bid bonds and it embraces technology as the next big frontier. In addition to responding to customers’ needs, the application aims at aligning with the Government’s initiative and vision of e-procurement.

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 “We are most grateful to our customers for giving us an opportunity to serve them and witness the turnaround of their businesses. This product is a win for us together,” said Sidian Bank Chief Executive Officer, Chege Thumbi.

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