Equity Bank scoops Bank of the Year Award
By Okan Thomas Onyango
Equity Bank South Sudan scooped top honor at the Banker’s Bank of the Year Awards 2020. The Bank has received the Bank of the Year South Sudan 2020 award by the Banker, during the Bank of the Year Awards 2020 in London.
The Bank emerged top in class for clearly exhibiting a strong fiscal performance in the financial year of 2019. The awarding entity, the Banker, also considered the difficult operating environment occasioned by the COVID-1 9 pandemic and the role banks played in delivering much needed funding, as well as providing specific measures themselves.
Commenting on the award, Equity Bank South Sudan Managing Director, Dr. Addis Ababa Othow appreciated the Banker for the recognition citing that it indicated their mission of offering financial services that empowers everyone.
“We are proud to be recipients of the Bank of the Year South Sudan 2020 award by The Banker. We appreciate the recognition that indicates we are truly living to our mission of offering financial services that socially and economically empower consumers, businesses and communities,” Dr. Othow said.
According to The Banker, the investment which banks have been making in their digital transformation efforts have truly paid off and will continue to reap rewards in the years to come, in terms of lowering the cost to serve, improving customer experience and driving the financial inclusion agenda.
“We are committed to the continued improvement of our products and services. To support our customers during this COVID-l9 pandemic, we enhanced uptake of self-services the online and digital services to ensure they have access to banking services 24/7, while at the same time rolling initiatives to support our customers survive and thrive post COVlD-19. Our digital banking self-service banking channels have transformed banking to something you do, and not somewhere you go,” added Dr. Othow.
The Bank also deployed the Eazzy Banking Suite to support businesses and individuals. The banking suite comprises three digital solutions. EazzyBiz, a web-based product that allows SMEs and corporate clients to make payments and collections and manage their liquidity. It gives a 360 degree view of accounts and allows host-to-host transfers of files between bank and client. The Eazzy Banking App, which enables internal funds transfer, balance enquiries and mini statements. It requires a one-time-PTN to authenticate login and transactions, providing robust security. EazzyNet is a retail internet portal where customers can manage their bank accounts anywhere anytime. The solution is tailored for customers who prefer online banking white on the move.
Dr. Othow further added that, “Some of our third party variable cost channels such as the Equity Agents are our way of realizing our shared prosperity model. By offering banking services on behalf of Equity, our agents help us to speed up our commitment to broaden financial access and deepen financial inclusion. Our people benefit from getting last-mile access to banking services.”
Equity Bank South Sudan has also invested in merchants acquiring systems with over 50 merchants across the country, including all the major hotels, restaurants and shop malls in Juba.
The Bank of the Year Awards 2020 by the Banker, a monthly international financial affairs publication owned by the Financial Times Ltd, is a continental awarding showpiece that recognizes and acknowledges excellence in the banking sector drawn from the world’s leading financial institutions. They are judged on their ability to returns, gains strategic advantage and serve their markets. In 2019, Equity Bank South Sudan, Kenya and Uganda subsidiaries emerged winners in the Bank of the year category.
Last year, Equity Bank South Sudan, a wholly owned subsidiary of Equity group Holdings unveiled a refreshed identity in line with the group’s ongoing journey of transformation. The new identity is aimed at creating sustainable growth path and service delivery in today‘s rapidly changing financial services environment. A brand refresh geared towards inclusion, innovation, growth, progress and relevance.