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Equity Bank Unveils Digital Banking Strategy

To remain competitive and relevant, commercial banks are increasingly embracing mobile banking for convenience and cost-cutting purposes.

It is on this premise that Equity Bank Uganda Limited on Friday launched its range of digital banking solutions into the market in a bid to enhance the banking experience of customers as well as enable them have more convenience and control of their banking.

The suite of digital solutions dubbed ‘Eazzy Banking’ promise to give an easy, comprehensive and secure banking experience.

The Eazzy Banking suite of products includes a banking app known as EazzyBanking App which allows one to transfer funds to other accounts and mobile wallets or pay utility bills, a solution to assist welfare clubs, investment clubs and groups manage their joint finances and investments known as EazzyClub; a real time bulk payment solution that allows one to automate electronic fund transfers, RTGS and mobile transfers called EazzyRemittance and a retail internet portal where customers can manage their bank accounts known as EazzyNet.

In addition, the suite has an interoperable payment platform, EazzyPay which allows one to pay for bills as well as goods and services at registered merchant outlets;  a mobile based loan product known as EazzyLoan; a cash and liquidity management solution for SMEs known as EazzyBiz, and banking capabilities packaged as APIs exposed through EazzyAPIs platform.

Speaking during the event held at Kampala Serena Hotel, Samuel Kirubi, the Managing Director, Equity Bank Uganda said the innovation has come at the right time to create convenience and affordability.

“This innovation has started from Africa and first in Uganda and Kenya to solve the (most) consistent challenge affecting commercial banks,” Kirubi said.

He added that over the years, one of the barriers in banking has been access and affordability, but with digitalization, customers have the freedom, choice and control.

“This has been informed by consumers banking trends which are showing a pattern of favouring self-service channels to enable them bank anywhere, anytime…Banking

Equity Bank Uganda’s digital strategy is underscored by the forging of strategic partnerships with global leading experts in data security, big data capture and analytics. This is to ensure security, scalability and interoperability of the different solutions.

Anthony KituuKa, the Bank’s Executive Director told businessfocus.co.ug that the App (Eazzy App) is designed with hi-tech security firewalls with a certificate of security from Global Security Operation Systems.

“We have nine products served efficiently by this App,” he said.

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