NAIROBI, Kenya, Aug 10 – Equity Bank has updated its mobile banking application, Eazzy Banking App, a move it says will enhance its capabilities, user experience, and security features.
According to the lender, the newly released version comes with enhanced features for both iOS and Android devises, which includes an enhanced security feature that allows customers to login using fingerprint biometrics on their mobile devices.
A key feature of the update is the accessibility of loan products through the app, a feature that was previously unavailable on the app.
“In addition to normal installment loans, customers can borrow loans to purchase water tanks, borehole drilling, or smartphone loans to purchase their preferred mobile phone from phone dealers across the country,” the bank said.
The upgraded App also comes with a scan to pay option, using mVisa and QR codes. Customers are able to use this as a payment option at any Equity merchant location countrywide.
The update also enables new customers to open accounts instantly, while only using their national identification numbers through the platform without having to visit a physical branch or doing any paperwork.
The upgraded app will give customers more convenience to send and receive money, apply for loans as well as manage their finances especially at this time when access to traditional banking avenues has been curtailed by the Covid-19 pandemic.
The bank says the update is in line with its continuous innovation to improve customer experience and support lifestyles.
Currently, Eazzy Banking App has over 1 million downloads, with a capability of performing 300 million transactions every second.
“The bank’s fintech and innovation strategy continues to drive digital payments and transfers through Eazzy Banking,” the bank said in a statement.
As of March 2020, the App’s transaction numbers rose by 25 percent, to 88.2 million from 70.5 million in the same period last year.
Additionally, the value of transactions on the App was Sh43.3 Billion in the first quarter of 2020 compared to Sh38 billion in the same period last year, representing a 14 percent rise.