Sidian Bank says tender bidders can access up to Ksh 15 million bid bond in less than 5 minutes through its online platform to help boost its trade finance business.
The Sidian Credible bid bond application platform provides verifiable bid bonds to small and medium enterprises (SME’s) targeting state tenders.
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.
Sidian Credible is a self-service platform that responds to the lender’s customers’ needs for convenience, efficiency and quick turn-around time which are critical in any tendering process.
The self- onboarding process for Non-Sidian Customers entails an automatic and instant verification of keyed in customer’s information against credible sources availed to the Banking Industry by the Government of Kenya.
It is a departure from the manual process of securing bid bonds and it embraces technology as the next big frontier.