Equity Bank unveils EazzyBanking-A Suite of Digital Banking Products

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Equity Bank has launched an array of digital products that promise to revolutionise banking through complete digitisation. Dubbed EazzyBanking, the products place a bigger priority on fitting into customers’ lifestyle, aligning operations with current banking trends, and upholding Equity’s culture of disrupting the banking sector.

Picture this: It is around 1.07 PM. The sun is scorching that the loaf of bread in supermarket shelve is almost turning into toast. You enter the banking hall hoping that most people are enjoying their lunch break. It is either between 1st and 10th or 15th to 18th of the month. Suddenly, you are thunderstruck because there are 399, 678 other customers in the banking hall, waiting to be served. Good News! This does not have to be your reality anymore since the new digital products by Equity bank seek to remove barriers to an enjoyable banking experience.

Dr. James Mwangi, Equity Bank CEO, affirmed that customers are increasingly embracing self-service platforms and that this spells death for the bank branches as transactional channels. He said this during the launch of EazzyBanking products.

Apart from fulfilling the growing demand for digital banking services, EazzyBanking comes with the promise of upholding inclusiveness through banking solutions that meet the unique needs of their customers. Dr. Mwangi was quoted saying that the financial institution has a “…banking solution for everyone” and that the new digital innovation would drive business growth and increased customer loyalty.

The launch of these products comes amid a growing pattern of preference for digital banking by many customers. Equity Bank reports that more than 80% of loan products are now accessed through mobile gadgets and this translates into an increasing affinity for digital banking. Equity has once again proved that it is a listening and caring partner as the reinvention responds to evolving customer needs and preferences.

Equity Bank acknowledges the instrumental role played by strategic partnerships leading to the success of this innovation.  The financial institution has forged partnerships with leading giant firms for data security and a favourable operating environment. These partners are Oracle, Apigee, Airtel, Experian MicroAnalytics, Cisco, IBM and Paladion. Each of these industry experts made valuable contributions and it is through collective effort that the project emerged successful.

EazzyBanking Products Explained

EazzyPay

Let’s face it, most of us hate paying bills. That coupled with the hustle of having to queue, getting that unkempt 50 shilling note that looks like it has been in circulating since forever, or getting sweets as change leaves a bad taste in one’s mouth. Nevertheless, if you are saved from the hustle, the process should be easy. Eazzypay is a product that allows you to use your Equitel line, Eazzyapp, or mobile money to pay for bills, goods and services. Equity has designated several outlets such as supermarkets, shops, petrol stations and airlines where you can Eazzypay without hustle.

EazzyApp

With easy app, you have Equity Bank at the touch of a button, like literally. Those many visits to the banking hall are now unnecessary since with EazzyApp you can now access numerous products remotely. Customers can now access loans, pay bills, check account status, and save. They no longer have to walk into the Equity banking hall.

The EazzyApp can be downloaded from Google Play or the App Store.

EazzyLoan

When was the last time you asked anyone for a small loan and they responded efficiently? I bet you can’t even recall. You will be happy to know that with EazzyPay, you can access up to Kshs. 3 million on your phone. The hardest part of accessing any loan product is the process itself. With Eazzyloan, everything is chap chap: you do not need to present any guarantors or fill forms. This app allows you to check your balance and make timely payments via your Equitel line or EazzyApp.

EazzyChama

Managing group, Joint, Chama or Investment accounts and activities especially those dealing with money can be hectic and time consuming: there will always be conflicts regarding late payments and non-payments. With the EazzyChama tool, you can manage affairs like banking transactions, both group and personal, and records. This is an important way of ensuring that fairness and transparency is observed. This solution also applies to joint account holders and investment groups.

EazzyNet

This is an upgraded solution that allows retail customers to enjoy enhanced security while doing online transactions.

Your online banking experience is now better as you can now schedule transactions, access statements, pay bills, and other simple banking transactions. It is such a sigh of relief for many since these are simple transactions that do not warrant a visit to the banking hall. PayPal account holders can now access their funds in the Equity accounts within three business days.

EazzyBiz

This banking solution will especially be valuable to corporates since it offers an online cash and liquidity management solution. Clients, both corporates and SMEs can now have visibility of their accounts through the account platform.

EazzyAPI

This is a reserve for developers, businesses, organisations, and payment providers. The API’s support the direct integration to clients’ or customer systems with bank level security.

EazzyBank Account

The last time I opened a bank account, the process lasted well over 27 minutes. A very long and boring process I must say. Opening a bank account is now easy since all you have to do is dial *247# from your mobile service provider and open an account instantly. The process is pretty much straightforward and won’t take up much of your time. From there, you can download the EazzyApp and start enjoying amazing products such as remote banking, paying bills, access loans, check balance, and much more.

Multiple Approvals

Signatories to Joint, Group and Chama accounts no longer have to meet physically to approve a transaction. You can now use your Equitel line and PIN to approve transactions remotely. This is very good news since the process of meeting physically was time consuming and sometimes tedious. You can now authorize transactions at the comfort of your home or in a completely different setting other than the banking hall.

Equity’s digitization journey is nothing short of brilliant. The decision to launch EazzyBanking has been informed by emerging trends and changes in the banking industry as a lot of shift to digital platforms has been evidenced over the past few years. Equity bank continues to expand its definition by disrupting the banking industry through the provision of bold and innovative solutions. It deserves a pat on the back for this.

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