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EQUITY Bank has launched EazzyFX, an electronic channel for settling forex transactions to enable customers to execute transaction requirements in real-time in a safe, convenient and secure manner.
The platform, EazzyFX, is the first of its kind in the country’s financial sector. The new platform will give customers the freedom to execute forex requirements in real-time from the comfort of their offices or homes without having to visit the branch network to initiate the transactions.
Equity Bank Tanzania Managing Director, Robert Kiboti said the EazzyFX platform is managed by the lender and powered by Thomson Reuters’s Refinitiv and will allow SME and corporate clients to deal on streaming rates, transact in real-time.
“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 yesterday in a statement.
The platform will also enable client’s to request 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.
“In today’s world, digital banking solutions such as EazzyFX have proven to be the appropriate solutions that meet the needs of our customers,” Mr Kiboti said.
The Managing Director 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.
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.
Also, 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.
Mr 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 said that importers and suppliers of goods and services who frequently need foreign currencies to settle their transactions can now leverage EazzyFX for efficiency and business growth. In addition to currency conversion.
On top of that, the platform will also facilitate the Bank’s clients to send and receive money across continents.
Last December Equity 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 the country 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.
The Bank has 14 branches and is supported by 3,516 Equity Wakala, 1410 merchants, and a network of 21 ATMs.
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