I&M Bank has unveiled a new digital platform, FX Direct, allowing Kenyan business, corporate, and institutional clients to trade foreign currency in real time. The platform provides users with the ability to track currency behaviour, monitor live market rates, and make informed decisions before executing transactions.
Traditionally, forex trading involved physical interaction with a dealer, but FX Direct removes this need, offering convenience and efficiency. Clients can now buy and sell foreign exchange, manage limit orders, and monitor currency trends from anywhere, streamlining operations and saving valuable time.
Speaking on the launch, Kihara Maina, Group CEO of I&M Bank, emphasized the personalised approach to forex rates. “The rates offered to customers are individualised. Each customer will have a rate that is specific to them because it also speaks to the currency pairs they use, the volumes they deal with, and the length of the relationship we have had,” he said.
Henry Kirimania, Director for FX Markets at I&M Bank, highlighted the platform’s flexibility for businesses handling international payments. “When dealing with international payments for a future date, importers or exporters can either pay now and wait for goods to arrive or agree with suppliers to pay after shipment,” he explained. This approach allows businesses to manage cash flow efficiently while mitigating currency risks.
FX Direct marks a significant step for I&M Bank in digital banking innovation, catering to clients who require fast, transparent, and flexible forex solutions. By providing real-time access to currency markets, the bank positions itself as a leader in technology-driven financial services in Kenya.
With this launch, I&M Bank is not only simplifying forex transactions but also enhancing customer experience, transparency, and financial planning for businesses operating in a dynamic global market.
