NIC Ventures, a subsidiary of NIC Group in partnership with Masterpiece Fusion has unveiled 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, available on mobile devices and web will enable NIC Ventures to provide a seamless interface with any trade finance customer.
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 endeavours to offer end-to-end customer intuitive online system for bid bonds by digitizing the process and therefore offering unparalled 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.
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 runs a detailed 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.
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). The subsidiary is tasked with driving the Group’s digital strategy partnerships, investing in or acquiring Fintechs.