Christine Kagendo 
Betty Korir, Chief Executive Officer,Credit Bank
- Credit Bank rolls out a digital platform to cut time for businesses to secure bid bonds to five minutes;
Credit Bank has rolled out a digital platform that cuts the time it takes for businesses to secure bid bonds from hours to just five minutes, offering a faster and more reliable way to access tender opportunities.
The new solution, Online Bid Bonds, replaces the traditional paper-based process with a fully digital,end-to-end solution.
Previously, businesses often spent hours, or even days, processing bid bonds, risking missed deadlines and lost opportunities.
With the new solution, which is available on the Credit Bank website, customers can generate compliant bid bonds quickly and reliably, allowing them to respond to tenders with greater speed and efficiency.
Designed in line with Kenya’s electronic government procurement requirements, the platform incorporates secure QR code verification for real-time validation, helping to enhance transparency and trust.
It also offers clear pricing, convenient payment through M-Pesa, and the capacity to issue bid bonds of up to KES 20 million, making it suitable for a wide range of business needs.
“Businesses should not miss out on opportunities because of slow and manual processes.With Online Bid Bonds, we are giving our customers a faster and more reliable way to access bid bonds.
This allows them to compete more effectively and focus on growing their businesses,” said Betty Korir, Chief Executive Officer of Credit Bank.
By digitizing bid bond issuance, an essential requirement for participating in many tenders,Credit Bank is addressing a long-standing bottleneck.
The solution simplifies what has traditionally been a slow and manual process, significantly reducing turnaround times and improving access for businesses of all sizes.
For small and medium-sized enterprises (SMEs), this makes it easier to get bid bonds and saves time and cost when applying for tenders.
Corporate clients gain faster processing, better efficiency, and the ability to handle multiple tenders smoothly while growing businesses and traders can plan their cash flow more easily, thanks to clear pricing and convenient payment options like mobile money.
This is an important milestone that is part of Credit Bank’s broader digital transformation strategy, which aims to make banking more accessible, seamless, and integrated into everyday business operations.
At the centre of this transformation is Konnect API, an open banking platform that enables businesses and fintechs to embed banking financial services directly into their own systems.
This supports real-time payments, collections, account services such as statements, account notifications and integrations that reduce operational complexity and improve efficiency.
Within its ongoing Digital Transformation journey, Credit Bank continues to strengthen its well established digital platforms, including Mobile Banking (CB Konnect App) and Internet Banking (iKonnect), which have long been integral to the Bank’s service offering.
These platforms provide customers with real time access to their accounts, enabling seamless payments, transfers, and bill management with convenience, security, and control.
Further advancing this journey, Credit Bank has recently rolled out paperless banking across all its branches, leveraging secure one time password (OTP) verification to streamline service delivery.
This shift significantly reduces paperwork while enhancing efficiency, turnaround times, and the overall customer experience.
“By combining banking services with digital infrastructure, the Bank is increasingly playing the role of a partner to businesses, helping them operate more efficiently,innovate faster and adapt to changing market demands,” added Korir.
This milestone comes at a time when demand for faster and more efficient financial services continues to grow. According to Banking Sector Innovation Survey 2024 by the Central Bank of Kenya (CBK), while 79 per cent of financial institutions have introduced innovative products, key areas such as credit processes remain among the least digitised, with 35 per cent of institutions identifying this as a gap.
The rollout is part of Credit Bank’s Digital Transformation Agenda, bringing benefits to all customers with real-time banking and building a digital system that supports efficiency, growth, and competitiveness.
