Great Features of EazzyBiz

EazzyBiz platforms has 6 key capabilities commonly referred to as modules:

1. Account Services:

   This gives you a global unified 360-degree view of all accounts held with the bank.

   • View account balances across accounts with the corresponding currency (Current, Savings, Deposit and Loan Accounts)
   • View summary and details of all accounts in the bank with facility to download statements in a format of your choice.
   • Service requests for additional Cheque books, stopping Cheques and Cheque status inquiry can be placed.
   • Real time reporting and audit capabilities
2. Payments

   This is an end-to-end payments solution that enables corporates and SMES perform various transactions:

   • Self-transfers within Corporate’s own accounts
   • Bulk payments, Salary and Payroll services (To Equity Bank accounts, Other Bank Accounts and Mobile Wallets)
   • Transfers to third parties within Equity Bank and to other Banks
   • EFT, RTGS and SWIFT transfers
   • Standing instructions and Recurring transactions
   • Bill payments & statutory payments – NHIF & NSSF payments, Water, Electricity
   • Tax payments to KRA – VAT, PAYE (Income Tax)
   • Batch payments – (Clubbing of transactions together by initiator and sending them for authorization as one)
   • Mobile wallet payments – Payments to Mpesa, Equitel, Orange Money, Airtel Money
   • Credit card payments – Pay with credit card bill
   • Local and Foreign currency demand draft (DD) issuance
   • Beneficiary management and payment summary view
3. Collections and Receivables:

   The EazzyBiz Collections and Receivables module provides a complete view of sales and collections as per the designated business hierarchy, divisions or locations. This module supports:

   • Cash and Cheque Collection and pick up arrangements.
   • Electronic Collections – Direct Debits, Collections through EFT, RTGS, Virtual account collections
   • Receivables Management – Invoice Uploads, Invoice Reconciliation, Reconciliation statements
4. Liquidity Management

   Liquidity helps corporate treasurers to manage credit and debit balances and cash flows across multiple accounts, multiple currencies and multiple locations; and manage shortfalls and excesses.

   EazzyBiz supports Liquidity Management module through:

   1. Sweeping – This is the automated movement of funds between certain accounts based on predefined rules/instructions. This can be done with accounts outside the Equity ecosystem too.
   2. Pooling – This involves the notional offsetting of debit and credit balances with no actual movement of funds between accounts.
5. Host to Host (I-Link)

   This is a seamless exchange of files through direct integration with a Corporate’s ERP enabling processing of entire customer.

   • Payment transactions. Some of its features include:
   • Real time reporting and audit capabilities
   • Preconfigured industry standard file formats
   • Format transformations and mapping to ensure easy adaption to new and existing formats.
   • Scalability from a functional perspective
   • File compressing, Encryption and transfer using secure Industry standard protocols.
6. Information reporting

   Gives you access to customized MIS across all products, as well as Rich Analytics.

• With Eazzybiz Corporates and SMEs enjoy.

  • Enhanced Security – Secure Transaction Processing
    • Two Factor Authentication – Login Password & OTP
    • Secure Transaction Authorization – Use of Tokens for Transaction authorization
    • Approval Workflow-All financial and non-financial transactions go through a well-structured workflow approval.
    • Website Security -Website is certified and secured by VeriSign.
  • Efficiency – The platform reduces accounting overheads.
  • Automation of services- Cash Book is automated and the corporates processes are digitized.
  • Savings on cost: Enables organizations utilize idle cash and save borrowing costs.
  • Real-time decision-making -Due to availability of real-time MIS /Analytics
  • Better visibility on Group wide cash positions / forecast business
  • Streamlined reporting- Rich MIS / Analytics reports
  • Better management of cashflow – Reducing Cash Leaking and Pilferage
  • Better planning -Forecast future cash positions and cash needs.
  • Speed and Convenience - Process payments faster, real-time
  • Reduce reconciliation time- Automated reconciliations.
  • Efficient cash flow management - Optimized Collection time
  • Audit trail of all transactions can be verified.

• Getting started with Equity Online

  1. Visit your nearest Equity branch.
  2. Complete the EazzyBiz Application form and our relationship managers will on-board you on platform.