Step-by-Step Guide to Using I&M FX DIRECT

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I&M Bank has launched I&M FX DIRECT, a real-time digital foreign exchange trading platform that transforms the way businesses manage currency transactions.

The platform digitizes the entire FX process, from price discovery to settlement, replacing traditional phone-based dealing, opaque pricing, and slow execution.

With a focus on transparency, speed, and autonomy, I&M FX DIRECT offers live market rates, straight-through processing for instant settlement, and 24/7 access, positioning I&M Bank as a technology-enabled treasury partner rather than a conventional lender.

Who Should Use I&M FX DIRECT

I&M FX DIRECT is designed for corporate clients, mid-sized enterprises, importers, exporters, and businesses that frequently handle foreign currencies.

Companies with a monthly average forex volume of at least USD 50,000 can particularly benefit.

By using I&M FX DIRECT, businesses can reduce administrative burdens, respond quickly to currency fluctuations, and gain better control over exchange risk, making treasury operations more efficient and reliable.

How to Sign Up to I&M FX DIRECT

Businesses looking to sign up to I&M FX DIRECT can start by contacting their Relationship Manager at I&M Bank or emailing the bank’s global markets desk.

Onboarding requires businesses to hold operational accounts in the foreign currencies they intend to trade. Once approved, clients can access the platform via any modern web browser on desktop or mobile without installing additional software. This setup allows businesses to start trading almost immediately.

Features of I&M FX DIRECT

I&M FX DIRECT comes with a suite of features designed to optimize FX trading for businesses:

Straight-Through Processing (STP): Automates the entire trade lifecycle, from quoting to execution and settlement, reducing manual intervention, errors, and delays.
Real-Time Pricing & Competitive Spreads: Provides live streaming currency rates and competitive spreads, allowing businesses to capitalize on market movements in real-time.
Flexible Dealing – Spot & Forward Trades: Supports both immediate transactions (spot deals) and future-dated FX contracts (forward deals) for effective liquidity and risk management.
Smart / Conditional Orders: Allows clients to set orders that execute automatically once certain market conditions or rate triggers are met, enabling strategic hedging.
Secure Web-Based Access: Trades can be executed from any browser on desktop or mobile, eliminating the need for software installation.
Transparent Deal History & Audit Trails: Provides full visibility of transactions and confirmations, essential for audit-ready treasury management.

Benefits of I&M FX DIRECT

Speed and Efficiency: Transactions that previously required phone calls or manual confirmations can now be executed in seconds, helping businesses respond swiftly to market changes and cash-flow needs.
Flexibility and Control: Businesses can manage both spot and forward deals, set conditional orders, and access FX positions anytime. This flexibility supports companies with variable cash flows, import/export schedules, and international obligations.
Transparency and Reduced Risk: By digitizing the process, I&M FX DIRECT minimizes human error and miscommunication while providing clear, live pricing for better financial decision-making.
Convenience and Accessibility: Browser-based access allows trading from anywhere, whether on an office, home, or on the move, without installing additional software, simplifying adoption and ongoing use.
Strategic Advantage for Cross-Border Transactions: Importers, exporters, and companies dealing with overseas clients can manage foreign currency flows efficiently, hedge against FX volatility, and control costs more effectively.

Regional Expansion and Connectivity

While launched in Kenya, I&M FX DIRECT is designed to integrate with I&M Group’s wider East African footprint, including Tanzania, Rwanda, Uganda, and Mauritius, and connects to existing rails like the BRISK transfer service.

This integration enables a unified “One Bank” experience across the region and strengthens I&M Bank’s role in supporting intra-EAC trade flows.

Jefferson Wachira is a writer at Africa Digest News, specializing in banking and finance trends, and their impact on African economies.