Sidian Bank formerly K-rep Bank has been named the Best Bank in Digital Banking in the country. This was during the 2020 Think Business Awards that were virtually carried out this year due to the pandemic.
Sidian Bank has been an industry leader in Trade Financing offering an array of tailor-made Trade Finance solutions. The Tier 3 bank recently won Best Bank in the country in Digital Banking and 2nd Runners Up Best Bank in Trade Financing in the just ended Think Business Banking Awards 2020.
The bank also emerged as the 2nd Runners Up, Best Bank in SME Banking ,1st Runners Up, Best Bank in Agriculture and Livestock Financing ,2nd Runners Up, Best Bank in Internet Banking and 2nd Runners Up – Best Bank in Mobile Banking
“We are on a journey of positioning Sidian Bank as the go-to bank for Trade Financing and with this solution, we will propel the business to onboard more customers to grow the their businesses through our ease to access finances through our innovative products. We are enabling a business-friendly environment and opening new markets, to enable our clients to thrive as SMEs to meet their broad range of unmet needs. Access to credit and innovative solutions is the key driver to growing SMEs in the country, making them more productive and with the latest knowledge of innovation incorporated in our products, this will be a game changer for our SMEs,” said Chege Thumbi, CEO Sidian Bank.
The bank attributes its success to realizing entrepreneurial potential in the country and to enable entrepreneurs create wealth through provision of transformational financial solutions. The bank has targeted the micro, small and medium enterprise (MSME) sector by providing an array of banking services and solutions.
According to a recent study by McKinsey, SMEs have become important sources of innovation and can spur a country’s growth especially by integrating proven practices and technologies is faster and safer and SMEs have a large adoption gap to close.
In the same way that emerging markets can grow faster than high-income markets by adopting tested technologies, SMEs can grow faster than large companies by adopting the proven technologies and practices of larger enterprises.