Eazzy Banking Suite – a new digital banking platform from Equity Bank that is meant to be the replacement for physical bank branches
Equity Bank is keen in making the banking experience of its customers for appealing. It is because of this reason that on Tuesday, 11th October, 2016, the bank announced that it had moved most of its services to online platforms.
The new Eazzy Banking suite will include the following digital service:
An interoperable banking and payment platform. With this app you can literally do everything that you usually do at your local bank branch.
A mobile based loan product. You can apply for a loan of up to Ksh.3 million right through the app.
A solution to help Chamas, investment clubs and groups manage their joint finances and investments while maintaining transparency and accessibility among all group members.
A retail internet portal where customers can manage their bank accounts. This platform also enables PayPal account holders to withdraw their funds to their Equity Bank accounts within three business days.
A cash and liquidity management solution for SMEs. It incorporates payments, collections and receivables, liquidity management and host to host (H2H) modules.
Developers can integrate these APIs to their systems or customers. These 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 just to name a few.
Customers will also be able to open new accounts, apply for loans and make utility payments all through an app loaded on their mobile phones. Equity bank is focused in running its services through digital media. The firm believes the time for physical bank branches is gone. Customers want convenience, freedom and control and that is what is Equity is offering them through this new digital product.
“Customers’ banking trends have declared the death of the bank branch as transactional channel, as they increasingly embrace self-service technology platforms that give them freedom, choice and control.”
-Mr. James Mwangi, CEO Equity Bank
According to the bank more than 80 percent of all loans in the bank are now being accessed through the mobile phone which is a clear indication of an increasing desire for self service banking.