Equity Bank unveils innovative online forex trading platform 2018 Eazzy FX Launch

Equity Bank unveils innovative online forex trading platform 2018 Eazzy FX Launch

• Equity Bank unveils innovative online forex trading platform

  Solution targeted to serving SMEs & Large Corporates

  November, 2018….. Equity Bank has today unveiled an innovative online forex trading

  platform in a move that seeks to harness the potential of the financial markets in Kenya.

  The platform dubbed “EazzyFX” offers a seamless experience in buying and selling foreign currency

  digitally eliminating the need for face-to-face or over-the-phone transactions. It also allows access to

  competitive prices on both emerging market and major traded currencies.

  Among the key features of the online service include real-time streaming access, competitive market

  pricing and immediate tailored request-for-quotation facilities. Insights on all trades and deals are also

  available. Users are able to personalize their profiles detailing their preferred currency pairs from the

  main dashboard in order to monitor a specific currency or to compare particular currencies against

  others.

  The new EazzyFX capability gives SMEs and Corporates freedom and control over their trading and

  saves them time since they will now trade real-time from their offices by logging into the trading

  platform. They will see the transactions real-time as well as their trading history.

  Speaking during the launch, Equity Bank Director of Treasury Mr. James Mutuku noted that the

  successful launch of EazzyFX stems from a fundamental rethink and commitment by the bank to

  extend to its customers a futuristic capability that is simple to use, versatile and world class putting

  customers at a vantage point when making forex trading decisions.

  “EazzyFX revolutionizes foreign exchange transactions for businesses, institutions, organizations and

  individuals. With clients becoming more and more discerning, there is need for utilization of unique

  innovative technology solutions to enable forex dealers differentiate themselves. Equity bank is

  leveraging its digital solutions to drive efficiency in accessing and distributing foreign exchange

  liquidity in a more seamless and convenient manner,” Mr. Mutuku said.

  EazzyFX will offer a much improved alternative to the selection of trading platforms currently available

  in the market. The platform enables users to transact more efficiently and transparently since real-

  time prices are displayed on the platform. On the other hand, the bank will use the data and other

  analytics tools to make appropriate trade decisions with a view of giving clients value for money.

  EazzyFX is hosted by Thomson Reuters Electronic Trading, which currently has over 100 banks

  across 56 countries globally already benefiting from its e-commerce FX trading platform.

  Equity Bank Kenya Managing Director Mr. Polycarp Igathe noted the platform would contribute

  significantly to improved efficiency for the customer. “In eliminating the need for face-to-face

  transactions, businesses are assured of greater ease in buying and selling foreign currencies without

  being restricted by geography and time. Our platform promises speed, convenience, security and

  gives our SME and Corporate customers access to the best deals in the market,” added Mr. Igathe.
• Equity Group Chief Executive and Managing Director Dr. James Mwangi announced the Group’s

  plans to roll out the online trading platform to its banking subsidiaries, saying that this will further

  enhance cross border trade and impact directly on the Group’s total earnings.

  “We have witnessed very encouraging adoption of our digital value proposition across market and

  across channels. 97% of all bank transactions are happening outside the traditional brick and mortar

  branches. We shall continue to leverage on innovation to meet the evolving needs and aspirations of

  our customers across the East and Central Africa region. With the EazzyFX solution, SMEs and

  Corporates can now enjoy convenient online trading. We will be availing this solution not only in

  Kenya but in Uganda, Tanzania, Rwanda and DRC, where we are present.” noted Dr Mwangi.

  Ends/..

  About EazzyFX

  EazzyFX is an online trading platform that gives clients the freedom to trade in real time, while enjoying

  security and convenience. With EazzyFX, customers can access the best forex deals and competitive

  pricing in the market; real time streaming of rates across various currency pairs; place buy and sell orders;

  view a history of all trading activity and settlement accounts set up for forex conversion.

  The trading platform targets both SME and Corporate customers offering Speed and Convenience. With

  EazzyFX, clients do not need to visit the branch to transact in forex. The platform is available 24/7 and

  provides a great user experience deployed in an easy to use interface.

  EazzyFX is hosted by Thomson Reuters Electronic Trading, which currently has over 100 banks across 56

  countries globally already benefiting from its e-commerce FX trading platform.

  Visit www.ke.equitygroup.com/eazzyfx for more information.

  For more information, please contact:

  Alex Muhia

  Equity Bank Ltd.

  T: Office – 0763 026007: Mobile – 0763 618871

  E: CorporateCommunicaons@equitybank.co.ke

  E: Alex.Muhia@equitybank.co.ke

  Carol Wairugu

  Ogilvy PR

  T: Mobile – 0764 515797

  E: Carol.Wairugu@ogilvy.co.ke