I&M Bank has announced a partnership with global trade finance technology provider, Surecomp to strengthen and modernise its trade finance services, as the Bank looks to make it easier and more efficient for customers to do business across the region.
The partnership will see I&M introduce an integrated digital trade finance platform, beginning in Kenya before expanding to Tanzania, Rwanda, Uganda and Bank One in Mauritius, which is part of the I&M Group.
The investment comes as businesses increasingly look to their banking partners for faster, simpler and more seamless ways to manage trade transactions. For I&M, the new platform will bring different stages of the trade finance journey onto a more integrated system, reducing reliance on manual processes and paperwork while improving turnaround times for customers.
The platform will also strengthen the Bank’s ability to support growing trade volumes across its markets, while enhancing operational efficiency and risk and compliance processes.
Carolyne Mulandi, I&M Bank’s Head of Trade & Financial Institutions, said the investment reflects the Bank’s focus on improving the trade experience for businesses while building stronger regional capabilities.
“For our customers, trade is ultimately about being able to move goods, make payments and do business efficiently. As their businesses grow and increasingly operate across markets, they need their bank to keep pace with them. This investment is about simplifying that experience, reducing turnaround times and giving our customers a stronger trade finance partner across the region.”
Through the partnership, I&M Bank will deploy Surecomp’s DOKA-NG™ and RIVO™ solutions to support the digitisation of its trade finance operations. The technology will enable the Bank to streamline trade processing and provide a more consistent experience as the solution is rolled out across its regional network.
Tal Weiser, Surecomp’s Chief Revenue Officer, said, “Our partnership with I&M Bank reflects the rapidlygrowing focus among African banks on using SaaS technology to make trade finance more accessible, efficient and scalable. We are pleased to support I&M as it strengthens its trade capabilities across the region and creates a more seamless experience for its customers.”
The rollout forms part of I&M Bank’s wider investment in technology and digital capabilities to improve customer experience and support businesses operating within and across African markets.
