New mobile service transform banking in Tanzania

Equity Bank has officially launched a new technological system that allow customers to open and accessing bank accounts using mobile phones

DAR ES SALAAM: The financial services sector in Tanzania is experiencing significant growth, with increased inclusion of people in the essential economic services.

To support government efforts in driving economic transformation through greater financial inclusion, by integrating citizens into formal banking systems, Equity Bank has officially launched a new technological system that allow customers to open and accessing bank accounts using mobile phones.

The newly introduced system is noted for to be simple and speed, aligning with the ongoing digital transformation in the country’s economy. It aims to revolutionize the traditional account opening process, making banking account accessible to all.

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During the launch of the ‘Hapo Hapo’ service event held today in Dar es Salaam,  Equity Bank Acting Head of Payments, Aidan Chamshama,  noted: “ This service enables  Tanzanians to open an Equity bank  account from anywhere without visiting a branch or filling out forms. All that required is a National Identification Number (NIDA) and mobile phone with a national identification number (NIDA)”.

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Salum Halfani, Manager of Equity’s Mbagala branch, mentioned that the account opened via mobile phone within 24 hours provides all banking services both domestically and internationally.

Equity Bank customer Teresia Luzige remarked that this new service would save time previously spent visiting branches to open an account.