Hotline +255 768985500

  • Customers will have the freedom to execute forex requirements in real-time in a safe, convenient and secure manner.

Dar es Salaam, 16th September 2021…. Equity Bank has today launched EazzyFX, an electronic channel for settling forex transactions and the first of its kind in the Tanzanian financial sector. The new platform will give customers the freedom to execute forex requirements in real-time, safely and securely from the comfort of their offices or homes without having to visit the branch network to initiate forex transactions.

The EazzyFX platform, which is managed by Equity Bank and powered by Thomson Reuters’s Refinitiv, will allow SME and corporate clients to deal on streaming rates, transact in real-time, request for quotes for any forex trade amount, 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 Tanzania Managing Director, Robert Kiboti said the move is intended to give clients the freedom to execute foreign exchange deals in real-time from the comfort of their offices or homes.

“In today’s world, digital banking solutions such as EazzyFX have proven to be the appropriate solutions that meet the needs of our customers. Businesses, institutions, organizations, and individuals can now leverage EazzyFX to drive efficiency and the growth of their businesses. We are enabling our clients who sell or buy any currencies to do it online without the need to visit forex agents in our branch,” said Kiboti.

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. The Bank will continue to offer support to customers through a team of dedicated and qualified Relationship Managers who will champion the signing up and usage of the platform.

Kiboti further added that the platform will also displace the status of exchange rates in Equity, giving clients access to automated rates through their mobile phones, computers, or other gadgets. The lender says that importers and suppliers of goods and services who frequently need foreign currencies to settle their transactions can now leverage on EazzyFX for efficiency and business growth. In addition to currency conversion, he disclosed that the platform will also facilitate the Bank’s clients to send and receive money across continents.

In December 2020, Equity Bank Tanzania unveiled its new look with a renewed commitment to roll out innovative financial solutions geared towards broadening financial access as well as 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 Tanzania offering digital banking solutions through accessible and convenient solutions.

The launch of the online forex trading platform follows the recent introduction of a Visa-powered Equity Prepaid card, seeking to push cashless transactions.

About Equity Bank Tanzania

Equity Bank Tanzania began its operations in February 2012 and is a commercial bank licensed and regulated by the Bank of Tanzania (BOT). The Bank is also a member of the Tanzania Institute of Bankers. The Bank has its Head Office located in Dar, with a footprint of 14 branches, and is supported by 3,516 Equity Wakala, 1410 merchants, and a network of 21 ATMs.  

Equity Bank Tanzania 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 Tanzania, the Group has banking subsidiaries in, Kenya, Rwanda, Uganda, DRC, South Sudan 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 is the largest bank in the region with assets of USD 11.2 billion. It is also the biggest bank in deposits, market capitalization and with a customer base of over 15 million customers. The Group has a footprint of 337 branches, 56,772 Agents, 32,269 Merchants, 697 ATMs and an extensive adoption of digital banking channels. 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.

Related stories

Equity Bank Tanzania limited imeingia ubia na Klabu ya Simba

Equity Bank Tanzania limited imeingia ubia na Klabu ya Simba katika kutoa kadi zenye chapa zao...

View More
Equity Bank Kicks Off Issuance of Simba Fan Cards

Equity Bank has today kicked off the issuance of Simba Fan Cards to over 20 million fans of the...

View More
Equity Bank Tanzania Donates 5 Mobile Police Posts to Ministry of Home Affairs in Tanzania

Equity Bank Tanzania has today handed over 5 mobile police posts to the Ministry of Home Affairs...

View More
Benki Ya Equity Tanzania Inazindua Suluhisho Jipya Ya Benki Kimtandao

Benki ya Equity imezindua huduma za benki kwa njia ya kimtandao, huduma hizi zilizopewa jina...

View More
Equity Bank and Tanzania Revenue Authority in Partnership for Payment of Taxes

The new tax settlement avenue will be available for all TRA clients including non- Equity Bank...

View More
Equity Bank Group Third Quarter Profits Soars 26% on the Back of Growing Regional Economic Activities

Equity Bank Group, on Thursday announced that its profit after tax for the third quarter of 2014...

View More
Regional Expansion and Diversification Strategy Pays Off as Equity Bank Posts a 21% Growth

Regional financial services provider Equity Bank Group has returned to its traditional growth path...

View More
Equity Bank Group’s Investment in Ict and Focus on Sme Boosts Profits by 11% in the 2013

Equity Bank Group’s investment in ICT and Focus on SME boosts profits by 11 percent in the year...

View More
Equity Bank and American Express Announce Card Issuing and Merchant Acquiring Partnership

Equity Bank and American Express today announced a partnership agreement, through which Equity Bank...

View More
Equity Group Secures Its Shareholders Nod for a Kshs 20 Billion Pan African Expansion Bid

The approvals, which were secured during the firm’s 11th Annual General Meeting (AGM) held today...

View More
Equity Bank’s Focus on Innovation Boosts First Half Year 2013 Profit

Regional banking group, Equity Bank's reduction of interest rates by 700 bps from 25% to 18% has...

View More
Equity Bank Group Strengthens Its Fundamentals While Expenses of Ict, Innovation and Product Rollout Slows Profit Growth To 7%

Equity Bank Group strengthens its fundamentals while expenses of ICT, Innovation and Product Rollout...

View More
Equity Bank's Strategy Increases Profits by 36 Percent

The Group’s total assets posted a 24% growth during the year to close at Ksh 243 billion up from...

View More
MasterCard and Equity Bank Announce Partnership to Introduce PayPass™ Enabled Cards

Partnership to increase financial inclusion and boost EMV migration efforts in the region.

View More
Equity Tanzania unveils a new identity in line with the Bank’s ongoing journey of transformation

The new identity is aimed at creating a sustainable growth path and service delivery in today’s...

View More
Equity ranks position 7 in the list of top 10 banks in Africa in The Banker’s Top 100 African Banks 2020.

Equity becomes the 1st bank in Eastern and Central Africa to achieve this milestone paving way for...

View More

Becomes the first bank in Eastern and Central Africa to achieve the trillion-shilling balance sheet...

View More
Equity CEO, Dr. James Mwangi, wins coveted Oslo Business for Peace Award

The Award is conferred annually to exceptional individuals who exemplify their outstanding `business...

View More

The service presents the exciting prospect for the Tanzania community to receive seamless...

View More

Equity Bank (T) leo imenzidua rasmi akaunti maalum ya utunzani fedha kwa kujiwekea kidogo kidogo ili...

EQUITY BANK (T) yaleta mfumo wa kidijitali wa “Eazzy-Kikundi” ili kuongeza tija na uwazi katika uendeshaji wa Vicoba nchini.

Equity Bank (T) imeahidi kuendelea kutoa elimu ya fedha na mikopo nafuu kwa vikundi vya uwekezaji na...

Equity Bank (T) introduces Interbank money transfers and SADC-(SIRESS) Services to boost cross boarders' and regional remittance services

Customers with Equity Bank accounts can now transact seamlessly in any of the Equity Bank branches...

View More
Equity receives double International Standards Certification on IT Service and Information Security Management Systems

Equity Bank Kenya Limited has received two International Standards Certifications - ISO 20000 and...

View More
Service finder
Equity Bank is Regulated by Bank of Tanzania (BOT)