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NIC introduces an Online Service to bid bonds

by Sharon Chepngetich

NIC Ventures, a subsidiary of NIC Group in partnership with Masterpiece Fusion on Tuesday launched an online platform dubbed “BeeDee” that will offer a more convenient, quick and efficient self-service process for both customers and non – customers seeking to quickly request for and receive bid bonds.

BeeDee portal, is available on mobile devices and web through a mobile phone application and web portal respectively, allowing high availability and mobility since its accessible anywhere and anytime.

James Muigai, NIC Ventures Limited General Manager noted the new online service would offer companies and business entities convenient and fast access to bid bonds for various tenders they bid for since the online process takes few minutes, hence absorbing the delays experienced during the manual bidding process.

“The launch of BeeDee endeavors to offer end-to-end customer intuitive online system for bid bonds by digitizing the process and therefore offering unparalleled value proposition to bidders including easy payment mode, all round the clock accessibility, convenience and safety. With this service, no one should be disqualified for delayed or late submission of bid bonds” He said.

“Our new innovative service is driven by a strong demand for trade finance and is aligned with our strategy of consolidating the notable gains we have made in digital innovations and our endeavor to go paperless in our offerings. The new system involves a one-off registration besides eliminating the need for an individual to belong to a bank or a network to access bid bonds. It also curtails delays due to unprocessed payments.

In addition, during key in, the system simultaneously run a detail verification process including ID, phone number, company ownership among others hence ensuring instant approvals.

The list of procuring entities covered in the new portal include: all banks, insurance companies, government parastatals, Non-Government Organizations and selected private institutions.

Bedee is a mobile and web-based solution framework that will enable NIC Ventures to provide a seamless interface with any trade finance customer. It is seeking an end-to-end customer intuitive system with robust know your customer (KYC) capabilities.

NIC Ventures is a subsidiary of NIC Bank’s group as a result of the restructuring that took effect on September 1st 2017, following approval from shareholders and the Central Bank of Kenya (CBK).

NIC Ventures mainly partners with non-traditional banking projects to enable the NIC Group to build and roll out products to enhance customer experience and financial inclusion.



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