KAMPALA – The just launched self-service platform will enable people to open bank accounts with Equity Bank Uganda using their mobile phones anywhere.
Using the Unstructured Supplementary Service Data (USSD), one will be able to open an Equity account without visiting the bank.
Executive Director in charge of Commercial Banking at Equity Bank, Michael Matovu Sseguya said that the platform will ensure financial deepening and inclusion of the unbanked population through increasing access to mainstream banking services.
“Equity Bank is always seeking innovative ways of offering integrated financial services that socially and economically empower our customers and communities. We are confident that the public will find the platform convenient and easy to use. The banking services available through *247# include balance inquiry, access to mini statements, funds deposit, money transfer from Equity to mobile wallets or between Equity accounts as well as facilitate payments.”
“Keeping pace with our tradition of providing ease and convenience of banking to our customers, Equity Bank has launched this product. This code *247# can be used widely by all sections of the public, at their convenience, at no cost,” he added
According to Sseguya, the platform also allows customers to interact with their money in a way that is immediate, intuitive, and intimate.
Customers will also be able to withdraw money from their account through the EquiDuuka, from the ATM or any of the bank branches.
“It will help in financial deepening and inclusion of the unbanked population in the mainstream banking services. The salient features of *247# include easy access as customers do not require data or internet to access their account or initiate banking transactions,” Sseguya said.
To open an account one needs a valid national ID and a registered mobile phone number.
Equity Bank Uganda Limited is one of major contributors to Uganda’s job market as it currently employs over 600 members of staff. It won the Uganda Investment Authority “Employer of the Year Award” in 2010 and is among the top Ten Banks in Uganda in terms of profitability and customer deposits as at 2015.