I&M Bank has unveiled I&M FX DIRECT, a next-generation online foreign exchange trading platform that promises to redefine how businesses in Kenya handle their forex transactions. The new solution introduces Straight-Through Processing (STP) technology, delivering instant and error-free trade execution — a first in Kenya’s banking landscape.
Designed for efficiency and transparency, I&M FX DIRECT eliminates the manual processes that have long slowed down forex trades. With its automated system, clients can now execute transactions instantly without the need for back-and-forth calls with dealers, ensuring faster settlements and reduced operational risk.
“The launch of I&M FX DIRECT marks a significant milestone in our commitment to leading digital transformation of treasury operations,” said Kihara Maina, Interim Chief Executive Officer, I&M Bank Kenya. “We are empowering our business clients by giving them direct control over their forex trades. We want to encourage the adoption of electronic forex trading over traditional methods by showing the benefits of speed, transparency, and control. This platform is backed by the security, reliability, and expert support that our clients need to manage their forex needs in the smartest way possible.”
The platform comes equipped with a range of features tailored to meet modern business needs. Users can access real-time currency pricing with competitive spreads, lock in both Spot and Forward deals, and use advanced order management tools that automatically execute trades when pre-set market conditions are met. Its web-based interfaceallows global accessibility across desktop and mobile devices without the need for installation.
Targeted at corporates and individuals transacting a minimum of USD 50,000 per month, I&M FX DIRECT aims to offer clients a superior digital experience that rivals both traditional forex bureaus and competing banks. The platform’s secure and transparent design is part of I&M Bank’s larger digital transformation strategy, which seeks to simplify financial operations for customers through innovation.
I&M Bank is inviting interested clients to speak with their Relationship Managers or contact globalmarkets@imbank.co.ke to get onboarded.
Earlier in the year, the bank extended its partnership with Mastercard to enhance digital payment solutions for businesses and consumers. The launch of I&M FX DIRECT complements this strategy, positioning I&M as a front-runner in Kenya’s financial technology evolution and reaffirming its commitment to providing smarter, faster, and safer banking experiences.
