I&M Bank Launches Real-Time FX Trading Platform

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I&M Bank has launched I&M FX DIRECT, a real-time digital foreign exchange trading platform designed to automate the full FX trading process and give businesses faster access to currency markets.

The platform, unveiled in November, digitises every step of the FX value chain, from price discovery to settlement, and replaces older processes that relied on phone calls, delayed execution, and non-transparent pricing.

The lender says the platform is built around transparency, speed, and user control. Clients can view live market rates, execute trades instantly through Straight-Through Processing (STP), and access the service any time of the day.

STP enables the entire life-cycle of a forex order to be completed automatically, cutting down delays and reducing manual errors. Businesses are able to lock in competitive rates and complete transactions in seconds instead of minutes or hours.

Regional CEO Kihara Maina said the goal is to help corporates shift toward electronic FX trading by showing the benefits in efficiency, especially for firms that manage tight cash flows or frequent cross-border payments.

The platform is initially available in Kenya but is built to integrate across I&M Group’s regional footprint, covering Tanzania, Rwanda, Uganda, and Mauritius.

It is also set to plug into existing services such as the BRISK transfer system, supporting a “One Bank” experience across the region.

I&M FX DIRECT Features

I&M FX Direct offers real-time streaming currency rates, competitive spreads, and 24/7 accessibility. Clients can execute both spot deals for immediate settlement and forward deals for future-dated trades, giving businesses flexibility to plan ahead.

The platform also includes smart order functionality, allowing users to set conditional trades that execute automatically when market conditions meet predefined levels, a feature useful for hedging or responding quickly to market shifts.

The service is web-based and can be accessed on both desktop and mobile devices, enabling users to trade even outside standard banking hours.

Importantly, businesses do not necessarily need to open a traditional I&M Bank account to use the platform, as access is available to customers who meet specific operational criteria, making it suitable for a wider group of enterprises.

Who the Platform Serves

Companies that handle foreign currency, such as importers, exporters, manufacturers, and firms with cross-border suppliers stand to benefit from the platform’s faster execution and clearer pricing.

Automating the full trading cycle reduces administrative workloads, improves cash-flow management, and helps businesses respond quickly to currency movements.