BiD 1.6.9

The BiD application, developed by "Business Invest Development NBFI" LLC, is an innovative product that integrates artificial intelligence and fintech to deliver robust online loan and payment services. Established in 2004, the company obtained its non-banking financial service license from the Central Bank of Mongolia under Decree No 340 in May 2005.

Under Mongolian laws and regulations, the BiD application offers a range of services, including:

• Online loans
• Online payment and shopping
• Long and short-term investments
• Targeted and potential savings
• Interbank transactions

Privacy Policy

BiD is committed to adhering strictly to local regulations and laws in Mongolia. The application safeguards customer privacy by securely maintaining personal information. Furthermore, it complies with the Anti-Money Laundering Commission as well as the National Data Privacy Commission.

Process for Obtaining a Loan

To obtain a loan, customers need to download the BiD application from the App Store and register using valid information. The application evaluates credit scoring through an advanced AI system aligned with the centralized loan database of the Bank of Mongolia. This approach mitigates the risk of customers taking multiple loans that could lead to repayment difficulties. Once the credit scoring process is completed and the Loan Agreement is duly signed by both parties, customers can access their loans directly to their bank accounts or BiD wallets without additional criteria.

Loan Details:

• Loan Term: 6 to 12 months
• Fee: 1%
• Loan Amount: MNT 50,000 - MNT 100,000,000