[Kenya] Equity Revamps its Online Banking Solutions to Drive Customer Convenience
Equity Bank has revamped its online banking offering, previously known as Eazzy Net, in line with the bank’s One Equity strategy to provide a seamless customer experience across all banking channels.
The newly revamped platform dubbed Equity Online provides a unified service offering across channels, an improved customer experience with simpler customer journeys, fresh and user-friendly interface and more digital financial services such as buying Mpesa float, paying for parking among others. This comes in the backdrop of a growing demand for efficient and flexible online banking experiences by customers. Customers can now visit the Bank’s website to register on the platform.
The Covid-19 pandemic has accelerated the adoption of digital banking and payment solutions by driving consumers to shift behaviors and adopt more technology to assist with their day-to-day lives in all aspects, including their finances.
During the release of the 2021 half-year results, Equity Group CEO and MD, Dr. James Mwangi said “Covid-19 pandemic has acted as a tailwind for customers’ adoption of digital offering fastening the pace of business transformation with significant upside on efficiency as the Group increasingly becomes a technology platform and transform from being a fixed cost business to a variable cost business.”
Internet banking is the new form of space banking not only in Kenya but in the world at large, due to advancements in technology and innovation. Additionally, the bank has added new features on its Mobile App and the USSD code *247#. Customers transacting using the Equity Mobile App will now be able to select a specific transaction on the mini statement to display more details such as beneficiary name etc. The number of transactions displayed on the mini statement has also increased from 10 to 20.
Customers using the *247# USSD code, can now access the service across all the telcos in Kenya and in addition apply for mobile loans such as Eazzy Loan. Previously, the USSD code was only available on the Safaricom network thus restricting customers on other telcos from accessing the services. Customers can self–register by dialing *247# on their mobile lines.
Equity’s digital banking services have continued to surpass traditional banking channels in both the number and value of transactions handled daily. In the recently – released 2021 half-year results, digital channels accounted for 98% of the Group’s transactions. 606.9 million transactions were completed through the Eazzy banking suite, agency banking, and merchants compared to 385.2 million recorded last year, indicating a 66% growth.