Individuals, SMEs, and corporations are increasingly interested in using forex to import and export goods and services, send money to loved ones abroad, and invest.
The foreign exchange market, which is one of the largest international financial markets, has evolved over time, with financial institutions implementing innovative solutions that enable consumers to monitor and view current exchange rates and book conversions at any time and from any location. These solutions have the added benefit of being available outside of business hours, allowing customers to complete their transactions at their leisure.
Forex solutions
In order to provide customers with convenience and to facilitate cross-border trade and payments, Equity, for example, has upgraded its EazzyFX platform to provide automated FX prices. Customers can now trade in real-time and securely from wherever they are, without having to call or visit Equity Bank branches to negotiate rates
Customers can settle their foreign exchange transactions using the platform’s competitive market pricing. Other key features of the platform include the ability to view real-time streamed rates with a single click at no extra cost, instantly tailored request-for-quotation for any FX trade amount, the placement of multiple trade orders, and access to the history of executed FX transactions. Users can personalize their profiles from the main dashboard, detailing their preferred currency pairs, in order to monitor a specific currency or compare specific currencies against others.
Equity understands that there are certain risks that arise from fluctuating foreign currencies exchange rates, and therefore offers risk management solutions such as FX forward contracts, FX options, and FX swaps, to enable businesses to operate more efficiently and with a certainty of rates applied upon maturity. To execute this, customers can enter into contractual agreements to transact at a future date, and at an agreed exchange rate and amount.
EazzyFX offers an 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 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.
Savings and investment solutions
Furthermore, the Bank, through its treasury solutions, presents investment opportunities in both domestic and international markets, such as Eurobonds, Treasury bills, and Treasury bonds, providing clients with a variety of investment options. The Bank offers very competitive rates on its call and fixed deposit accounts (KES & USD) for short-term investment products, with customers having the flexibility to choose their tenor as well as the currency of their placements based on their liquidity management needs.
Looking ahead, financial institutions must continue to develop innovative solutions aimed at meeting the changing needs of their distinct customer segments. Equity is leveraging digital solutions to increase efficiency and provide customers with the ability to transact in real time while maintaining security and convenience. Customers can sign up for EazzyFX by visiting https://equitygroupholdings.com/ke/EazzyFX, calling +254 763 000 000, or visiting any Equity branch near them for assistance.