NIC launches online service for trade financing

NIC Ventures has launched a service, “BeeDee” for convenient, quick and efficient self-service process to respond to the strong demand for trade finance.

The service is available to both customers and non – customers seeking to quickly request for and receive bid bonds.

The BeeDee portal, available on mobile devices and web through a mobile phone application and web portal, allows user mobility.

The service includes an  end-to-end customer online system to bid for bonds by digitizing the process.

"With this service, no one should be disqualified for delayed or late submission of bid bonds” James Muigai, NIC Ventures GM said yesterday.

To use the service, there is a one-off registration  during which the system runs a detailed verification process including identification details, phone number, company ownership among others hence ensuring instant approvals.