Digitizing the Banking Sector The Equity Bank Way

By Juma / Published October 14, 2016 | 11:15 am



Equity-Bank-thin-SIM-technology equitel

The Kenyan banking sector has been through different phases of growth, from the time people used to crowd the banking halls, making long queues with some even fainting from fatigue, to the current phase where people have strongly embraced the use of technology and transforming the financial sector.

The coming of mobile money transactions has completely changed to way financial institutions operate. People no longer visit the tellers for transactions unless it involves heavy cash or an issue that requires a one-on-one conversation. At the moment, most Kenyans are the bank, cashiers, bank managers and the teller managing everything by themselves via their mobile phones.

Most financial institutions have had to adjust their modes of operation less they remain behind as the digital wave continue to take over the world. All the financial institutions in the country have switched their transactions and operations to mobile further bettering their services.

If there is a bank that is disrupting the mode of banking in the country then it is Equity Bank Group. The bank comes out as one that is out to make sure that technology is tailored towards making sure that everyone faces no barrier when it comes to transactions but do it in their comfort zones via their mobile phones. The bank is pioneering the digitization of the banking sector and this is evident from the products that have been unveiled.

Some of the digitized products from Equity Bank Group

EazzyPay

This is a product that allows one to directly make payments for various bill from their mobile phones without having to go to the bank. The service is flexible in that it is available across networks from Equitel to others like MPESA, Airtel Money and Orange Money.

EazzyApp

Having an Eazzy App on your mobile devices is like moving around with the whole bank. This is because the app offers all the unique services that one would experience in the real banking hall like depositing money, transferring money, applying for loans, paying for various services (bills) and many others.

 

EazzyLoan

Kenyans especially those in the Small Medium Enterprises (SME) need an institutions that supports them along the way. Eazzy Loan is well suited for them. With one having the capacity on taking a loan of up to 3 million shillings without having to go through all the tedious processes is something to embrace.

These are just but a few products launched by Equity Bank group and ones that show that the Kenyan banking sector is coming up in terms of the digitization of the sector nd that it is coming up fast.

EazzyChama

This allows Joint, Investment, Group or Chama account holders to manage their group activities like record keeping and banking transactions, while maintaining transparency and accessibility among all group members.

For EazzyChama, it is not just for ordinary Chamas, but also for joint account holders as well as investment groups.

EazzyNet

EazzyNet, offers retail customers of Equity Bank Group a better online experience. With Eazzy Net, if on is a PayPal account holder, he/she will be able to withdraw their funds direct to their Equity Bank accounts within three business days.

EazzyBiz

Eazzy Biz is a product that is secure and comprehensive in terms of managing cash and liquidity that harbors payments, collections and receivables that is well situated for all clients including the Small Medium Enterprises.

EazzyAPI

Equity Bank Group has come up with a developed a bank’s capability that is in form of API that include transfer of funds that is within and outside Equity, topping up airtime to any mobile provider and it all comes at a discount, one can also be able to pay bills, goods and services, opening accounts and much more.

Read more on the products here

Read: Equity Bank Ups the Game on Mobile and Digital Banking with Launch of Eazzy Banking Suite of Digital Products

 




About Juma

Juma is an enthusiastic journalist who believes that journalism has power to change the world either negatively or positively depending on how one uses it.(020) 528 0222 or Email: info@sokodirectory.com

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