Kampala, 14th September 2021 Equity Bank has today unveiled EazzyFX, an innovative electronic channel that allows customers particularly SMEs and corporates to settle forex transactions and enjoy a seamless experience as they deal in foreign currency based on the day’s streaming rates.
Additionally, EazzyFX enables customers to request for competitive quotes and prices for both the emerging market and the major traded currencies as well as enjoy real-time streaming access, have the ability to place multiple trade orders and get informed insights on the various currencies.
Speaking during the launch ceremony, Equity Bank Uganda Managing Director, Samuel Kirubi noted that the successful launch of EazzyFX is a testament of the Bank’s commitment towards investing in digitization for the benefit of its customers. “This platform will revolutionize foreign exchange transactions for businesses, institutions and individuals. With clients becoming more and more discerning, there is need for utilization of unique and innovative technology solutions to enable forex dealers to differentiate themselves. This new platform will drive efficiency in accessing and distributing foreign exchange liquidity in a more seamless and convenient manner,” added Kirubi.
Mr. Kirubi also noted that the platform would give Equity customers the freedom and control over their trading by enabling them to personalize their profiles and detail their preferred currency pairs from the main dashboard; in order to monitor a specific currency or to compare particular currencies against others. Furthermore, EazzyFX will give Equity customers a clear view of their full trade workflow and a history of their trading transactions.
“With EazzyFx, our customers will no longer have the restrictions of either geography and time and will enjoy the speed and convenience of trading in real time. This new platform which is managed by Equity and hosted by the Thomson Reuters Electronic Trading platform is also safe and secure enabling our customers to enjoy convenient online forex trading at the comfort of their office, home or anywhere in the world.” said Kirubi.
The Bank will also offer support through its team of dedicated and qualified Relationship Managers who will champion and help customers to sign up and use the platform as well as offer expert advice on key considerations when making buy and sell decisions.
Equity Bank Uganda becomes the third subsidiary within Equity Group to launch EazzyFx following successful launches in Equity Bank Rwanda in June 2021 and Equity Bank Kenya in 2018.
About Equity Bank Uganda
Equity Bank Uganda began its operations in 2008 and is regulated by Bank of Uganda. The Bank has its Head Office located in Kampala, with a network of 43 branches, 4,906 Equiduuka agents, 6,243 merchants and 43 ATMs spread across the country and serving over one million customers.
Equity Bank Uganda 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 Uganda, the Group has banking subsidiaries in, Kenya, Rwanda, Tanzania, 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.
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