Online Banking

Great Features of EazzyBiz

EazzyBiz platforms has 6 key capabilities commonly referred to as modules:

1. Account Services:

   This gives you a global unified 360-degree view of all accounts held with the bank.

   • View account balances across accounts with the corresponding currency (Current, Savings, Deposit and Loan Accounts)
   • View summary and details of all accounts in the bank with facility to download statements in a format of your choice.
   • Service requests for additional Cheque books, stopping Cheques and Cheque status inquiry can be placed.
   • Real time reporting and audit capabilities
2. Payments

   This is an end-to-end payments solution that enables corporates and SMES perform various transactions:

   • Self-transfers within Corporate’s own accounts
   • Bulk payments, Salary and Payroll services (To Equity Bank accounts, Other Bank Accounts and Mobile Wallets)
   • Transfers to third parties within Equity Bank and to other Banks
   • EFT, RTGS and SWIFT transfers
   • Standing instructions and Recurring transactions
   • Bill payments & statutory payments – NHIF & NSSF payments, Water, Electricity
   • Tax payments to KRA – VAT, PAYE (Income Tax)
   • Batch payments – (Clubbing of transactions together by initiator and sending them for authorization as one)
   • Mobile wallet payments – Payments to Mpesa, Equitel, Orange Money, Airtel Money
   • Credit card payments – Pay with credit card bill
   • Local and Foreign currency demand draft (DD) issuance
   • Beneficiary management and payment summary view
3. Collections and Receivables:

   The EazzyBiz Collections and Receivables module provides a complete view of sales and collections as per the designated business hierarchy, divisions or locations. This module supports:

   • Cash and Cheque Collection and pick up arrangements.
   • Electronic Collections – Direct Debits, Collections through EFT, RTGS, Virtual account collections
   • Receivables Management – Invoice Uploads, Invoice Reconciliation, Reconciliation statements
4. Liquidity Management

   Liquidity helps corporate treasurers to manage credit and debit balances and cash flows across multiple accounts, multiple currencies and multiple locations; and manage shortfalls and excesses.

   EazzyBiz supports Liquidity Management module through:

   1. Sweeping – This is the automated movement of funds between certain accounts based on predefined rules/instructions. This can be done with accounts outside the Equity ecosystem too.
   2. Pooling – This involves the notional offsetting of debit and credit balances with no actual movement of funds between accounts.
5. Host to Host (I-Link)

   This is a seamless exchange of files through direct integration with a Corporate’s ERP enabling processing of entire customer.

   • Payment transactions. Some of its features include:
   • Real time reporting and audit capabilities
   • Preconfigured industry standard file formats
   • Format transformations and mapping to ensure easy adaption to new and existing formats.
   • Scalability from a functional perspective
   • File compressing, Encryption and transfer using secure Industry standard protocols.
6. Information reporting

   Gives you access to customized MIS across all products, as well as Rich Analytics.

• With Eazzybiz Corporates and SMEs enjoy.

  • Enhanced Security – Secure Transaction Processing
    • Two Factor Authentication – Login Password & OTP
    • Secure Transaction Authorization – Use of Tokens for Transaction authorization
    • Approval Workflow-All financial and non-financial transactions go through a well-structured workflow approval.
    • Website Security -Website is certified and secured by VeriSign.
  • Efficiency – The platform reduces accounting overheads.
  • Automation of services- Cash Book is automated and the corporates processes are digitized.
  • Savings on cost: Enables organizations utilize idle cash and save borrowing costs.
  • Real-time decision-making -Due to availability of real-time MIS /Analytics
  • Better visibility on Group wide cash positions / forecast business
  • Streamlined reporting- Rich MIS / Analytics reports
  • Better management of cashflow – Reducing Cash Leaking and Pilferage
  • Better planning -Forecast future cash positions and cash needs.
  • Speed and Convenience - Process payments faster, real-time
  • Reduce reconciliation time- Automated reconciliations.
  • Efficient cash flow management - Optimized Collection time
  • Audit trail of all transactions can be verified.

• Getting started with EazzyBiz

  1. Visit your nearest Equity branch.
  2. Complete the EazzyBiz Application form and our relationship managers will on-board you on platform.
  For charges applicable to this product/service, refer to the tariff guide available on this link. 
  Tariff Guide

• Transaction Process

  1. Transactions are processed on a real-time basis once initiated, approved and released by the customers online.

• Potential Risks

  1. To safeguard the funds in your account, do not share your Password, OTP or Token with anyone.
  2. Do not use public Wi-Fi to do your online banking.
  3. Do not click on any suspicious links shared via email or SMS.
  4. If you suspect your password has been compromised, please change it immediately.

• Complaints Handling Process

  1. Lodge complaint at any of our branches, via call center, info@equitybank.co.ke or website: https://equitygroupholdings.com/ke/ We will record your feedback and issue you with a reference number.
  2. We will acknowledge you feedback within 48hours.
  3. If we cannot resolve the complaint immediately, we will advise on the next cause of action and when to expect feedback from us.
  4. We will endeavor to resolve the complaint within 7 working days. However, should we require more time to it, we will keep you updated with progress every 7 days until the complaint is resolved.
  5. Should the resolution not meet your satisfaction, feel free to get back to us with your concerns and we will review the issue and resolution and revert back to you.

• Rights and Obligations

  1. T&Cs of products are available on website and as part of account opening form.
  2. Data privacy policy included in customer onboarding and account opening forms