Kigali,1stJune 2021… Equity Bank Rwanda has today launched EazzyFX, an electronic channel for settling forex transactions and the first of its kind in the Rwandan financial sector. The new platform will give customers the freedom to execute forex requirements in real time in a safe and secure manner from the comfort of their offices or homes without having to visit the branch to initiate forex transactions.
The EazzyFX platform which is powered by Thomson Reuters’s Refinitiv, will allow SMEs and corporates to transact in real time, request for quotes for any forex trade amount, deal on streaming rates, enjoy access to a full trade workflow as well as place multiple trade orders, enabling them to have the freedom and control over their trading.
Speaking during the launch, Equity Bank Rwanda Managing Director Hannington Namara, said, “In today’s world, digital banking solutions such as EazzyFX have proven to be the solutions that our customers are seeking to facilitate their businesses become more competitive as they compress time and distance. Businesses, institutions, organizations, and individuals can now leverage on EazzyFX to drive efficiency and the growth of their businesses. We are excited to be the first bank in Rwanda to launch an electronic channel for settling forex transactions that will allow us to offer one more convenient channel of access to our customers.”
Rwanda, which is quickly becoming a business and tourist hub, will enjoy an alternative way to access forex currency options and execute forex requirements more efficiently and transparently since real-time prices are displayed on the platform.
Commenting on the launch of the platform in Rwanda, Equity Bank Rwanda Head of Treasury Fernand Kamanzi said, “Once signed up, customers will enjoy the best deals and competitive market pricing, real time streaming of rates across various currency pairs, placing buy and sell orders, getting a history of all forex transactions, viewing settlement accounts set up for forex conversion and so much more. As Equity, we also commit to continue offering support to customers through our teams of dedicated and qualified Relationship Managers who will champion the signing up and usage of the platform.”
In 2020, Equity Rwanda unveiled its new look with renewed commitment to enhance growth and financial inclusion through seamless customer experience. The EazzyFX platform, which is seamlessly integrated, is one of the solutions that will position Equity as a leading bank in Rwanda offering digital banking solutions through accessible and convenient solutions.
About Equity Bank Rwanda PLC
Equity Bank Rwanda began its operations in 2011 and is registered as a commercial bank by the National Bank of Rwanda. The Bank has its Head Office located in Kigali, with a footprint of 14 branches and is supported by 2800 agents, 1220 merchants and a network of 21 ATMs.
Equity Bank Rwanda is a subsidiary of Equity Group Holdings Plc, a financial services company listed at the Nairobi Securities Exchange, Uganda Securities Exchange, and Rwanda Stock Exchange. In addition to Equity Bank Rwanda, the Group has banking subsidiaries in, Kenya, South Sudan, Uganda, Tanzania, DRC, and a Commercial Representative Office in Ethiopia; with additional non-banking subsidiaries engaged in the provision of investment banking, custodial, insurance agency, philanthropy, consulting, and infrastructure services.
Equity Group has an asset base of over USD 10 billion. With over 14.3 million customers, the Group is one of the biggest banks by customer base in the region. The Group has a footprint of 336 branches, 53,151 Agents and 34,862 Merchants and 725 ATMs. The Group is the largest bank in market capitalization in East and Central Africa. The Banker Top 1000 World Banks 2020 ranked Equity Bank 754 overall in its global ranking, 62nd in soundness (Capital Assets to Assets ratio), 55th in terms of Profits on Capital and 20th on Return on Assets. In the same year, Moody’s gave the Bank a global rating of B2 with a negative outlook same as the sovereign rating of the Kenyan government due to the Bank’s strong brand recognition, solid liquidity buffers and resilient funding profile, established domestic franchise and extensive adoption of digital and alternative distribution channels. Equity Group Holdings Plc is regulated by the Central Bank of Kenya.
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