Equity bank unveils a customer oriented digital bank

Financial inclusion is changing the way people transact across the world. This has also made banking affordable to people who can’t access financial institutions. In my village, one has to walk miles before accessing a bank or an agent; this condition is deplorable hence forcing people to hide their cash under the bed. Another issue affecting my villagers is loan application – few people have the time to follow long bank procedures and rules just to get a loan.

Bank on the go

However, to make service delivery seamless, Equity Bank has unveiled a banking app known as Eazzy App that essentially allows users to do everything on the go. The App has an Eazzy suite of banking products that take care of all customer needs, the products include:

  1. EazzyPay. This allows you to pay for stuff. Sometimes walking around with a wallet full of cash can be risky, but this particular product allow pay for bills, goods and services straight from your phone using; Your Equitel Line, Equity Bank App or Mobile money.
  2. EazzyApp. The App is like a walking bank – Equity has reduced the distance for its users hence you don’t have to visit a bank in order to transact or inquire. EazzyApp is your Bank anywhere, anytime. Everything you do at the bank is now on Eazzy App. From sending money to paying for goods and services, accessing Eazzy loans, paying bills, checking the status of your account or saving for your future goals, it is all in your hands.
  3. EazzyLoan. You can actually borrow 3million using this app. To add on that, you don’t have to fill in any forms and no need for guarantors. Thereafter, you can monitor your loan balance and make repayments through your Equitel line or use the EazzyApp.
  4. Eazzy bank account. If you want to open an Equity Bank account, dial *247# from your current local mobile network and open one instantly. Download the EazzyApp and start doing your  banking anywhere, anytime through your phone;  pay bills, buy goods and services for free, send money for free, apply and get a loan, check your account balance, withdraw money from an agent or ATM and much more.
  5. EazzyChama. With Eazzy Chama, Joint, Investment, Group or Chama account holders are able to manage their group activities like record keeping and banking transactions, while maintaining transparency and accessibility among all group members. To add on the goodies, multiple approvals gives chamas freedom to do a number of transactions. It allows one to operate a joint account straight from a mobile phone, and use the Equitel line to approve group account transactions using your PIN.
  6. EazzyNet. Browsing through the Equity products is now easy since it has improved features enhance online banking experience. It also allows PayPal account holders to withdraw their funds direct to their Equity Bank accounts within three business days.
  7. EazzyBiz. This offers  a global view of your cash position, enables you to make payments, manage your cash flow and balances across multiple currencies and locations. EazzyBiz offers a great user experience, unified view of accounts and has information rendering capability through analytics and management dashboards.
  8. EazzyAPI. Now the banking capabilities are packaged as APIs for direct integrations to your systems or customers with bank grade security at the heart of such implementations. The APIs include:  Funds transfer (within and outside Equity), Airtime top up from any telco at a discount, Pay bills, goods and services,  Instant Equity account opening and much more.

“Customers’ banking trends have declared the death of the bank branch as transaction channel, as they increasingly embrace self-service technology platforms that give them freedom, choice and control.” Dr. James Mwangi revealed this while launching a suite of digital products dubbed Eazzy Banking that promise to give an easy, comprehensive and secure experience while supporting a convenient lifestyle for Kenyans transacting both in the country and abroad.

He added, “Further, customers have demonstrated the extinction of cash preferring to transact with digital money which is safer for transactions and more hygienic than bank notes. In response to these trends that we have been observing from our customers, we have reinvented ourselves into a digital bank to respond to their needs, in line with our promise as their listening caring partner. ” Dr. Mwangi said that this trend is in line with the Government’s vision of a cashlite economy as contained in the country’s vision 2030.

“We have a banking solution for everyone, in line with our inclusive agenda which we have carried as part of our commitment throughout our history, said Dr. Mwangi and added; “The bank’s strategy is to be the region’s leading digital bank delivering a remarkable client experience in key digital touch points. “We have all witnessed how rapid adoption of mobile and other digital channels have transformed how people bank. We are thus delighted to unveil this platform that will drive growth in our business via new innovations and increased customer loyalty.” he said.

Dr. Mwangi also noted that that the digital journey that the bank started a year ago is already showing impressive results with the number of the bank’s active digital customers rising steadily. In the period ending September 2016, growth in Equitel mobile loan disbursements accounted for 84% of all loan disbursements compared to 16% branch loan disbursements.

On the other end, M-PESA and KCB are also making strides in making sure that their customers carryout banking activities at the comfort of their home.

“The rapid growth of the financial technology industry in Kenya is a testament to the role advancing technology is playing in the evolution of financial services on the continent. Technology is fueling innovation and growth in the financial services sector, creating new opportunities and disrupting the way business has traditionally been conducted.” he concluded.

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