Unveiling the new platform in Dar es Salaam on Friday, Equity Bank Tanzania Managing Director Robert Kiboti said the new product provides a reliable financial link between local clients with the rest of the bank’s network through One Equity Inter-Country services at minimal cost.
"The primary purpose of the product is to provide solutions for Equity Bank customers and non-customers (deposit only) across the group to access their accounts and transact from any of the Equity Bank group subsidiaries, in any of the local currencies,” Kiboti said.
He said Equity Bank Tanzania clients will be able to make deposits, receive deposits, and make withdrawals at any of the bank’s branch online in Kenya, Uganda, Rwanda, South Sudan and DR Congo as a domicile country.
Kiboti said Equity customers can also transfer to their peers in any country of operation adding that through the bank’s world-class digitization of the product, customers will enjoy the freedom of accessing all services at their convenience through Eazzy Banking App-, and Eazzy Netand Eazzy Biz- Inter-country funds transfer on online banking platforms.
“We believe this will be an important solution to facilitate cross-border payments between Tanzania, Kenya, DR Congo, Rwanda and the rest of Equity Bank network. I call upon all cross-border traders, including SMEs, transporters and the likes to capitalize on these new services from Equity Bank," he added.
According to the MD, another new service to hit the market is of remittances solution within the SADC block is called Integrated Regional Electronic Settlement System (SIRESS)." This is an automated interbank settlement system by the SADC participating member countries of Angola, Botswana, Comoros, Democratic Republic of Congo, Eswatini, Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Seychelles, South Africa, Tanzania, Zambia, and Zimbabwe,” The Equity Bank Tanzania CEO noted.
Through these services, customers and non-customers will perform low-cost and secured cross-border payments within the region and make payments between countries. "For us, it’s all about lowering costs and reducing risks for those seeking to send and receive payments within the SADC block," Kiboti pointed out.
Equity Bank Tanzania began its operations in February 2012 and is a commercial bank licensed and regulated by Bank of Tanzania. The bank is also a member of the Tanzania Institute of Bankers and has a footprint of 14 branches supported by 3,279 Equity Wakala, 2,302 merchants and a network of 21 ATMs. Equity Bank Tanzania is a wholly-owned subsidiary of Equity Group Holdings Plc, a financial […]
