Sidian Bank Expands Trade Finance Market, Unveils Online Bond Submission Platform
NAIROBI, KENYA: Sidian Bank has launched a web application that allows customers to generate bid bonds from anywhere on any device.
The self-service platform named Sidian Credible aims to improve convenience, efficiency and speed of execution, which are essential for tenders.
Trade finance has been one of the areas of intervention of Banque Sidian over the past five years.
“Through tailor-made trade finance solutions, the bank has seen many of its clients unlock their business potential, which has led to the timely application of bid bonds and cost savings, while ‘others have spread wings across the African region, ”said Corporate Banking and Trade Finance Director Beatrice Kamiri.
The solution moves away from the manual process of securing bid bonds and embraces technology as the next big frontier. In addition to meeting customer needs, the app aims to align with the government’s initiative and vision of e-procurement.
“We are very grateful to our clients for giving us the opportunity to serve them and assist in the turnaround of their businesses. This product is a victory for us together, ”said Chege Thumbi, CEO of Sidian Bank.