For years, company treasury in Kenya operated on a dependency mannequin. If a Finance Supervisor needed to transform currencies, they have been tethered to the banking hours and the provision of a seller on the opposite finish of a cellphone line. This conventional course of, whereas purposeful, inherently positioned the management of the transaction execution within the palms of the financial institution.
With the launch of I&M FX DIRECT, the dynamic has essentially shifted. By transferring overseas trade from a relationship-based cellphone negotiation to a digital-first interface, I&M Financial institution is not only providing a device; they’re handing the controls again to the shopper.
The launch represents a big departure from the usual phone-based mannequin that has lengthy dominated the area’s company banking sector. By introducing Straight-By means of Processing (STP) know-how, the financial institution goals to interchange guide interventions with a system that provides automated, error-free execution.
For many years, worth discovery within the Kenyan foreign exchange market has been opaque. Companies usually relied on verbal quotes from financial institution sellers, usually with a lag between the agreed fee and the ultimate settlement.
Kihara Maina, Interim CEO of I&M Financial institution Kenya, described the brand new platform as a transfer towards democratizing treasury operations.
“We’re empowering our enterprise purchasers by giving them direct management over their foreign exchange trades,” stated Maina. “We wish to encourage the adoption of digital foreign currency trading over conventional strategies by displaying the advantages of pace, transparency, and management.”
The platform is designed to deal with particular inefficiencies in guide buying and selling. Based on the financial institution, the brand new system affords options that permit company finance managers to bypass the financial institution’s guide desk fully for normal transactions.
Key functionalities driving this shift embrace:
Actual-Time Worth Discovery: As a substitute of requesting a quote, purchasers have entry to stay, streaming forex charges. This enables treasurers to see market actions in real-time and lock in aggressive spreads immediately.
Automated “Sensible” Orders: The platform helps Superior Order Administration, enabling companies to position restrict orders that execute robotically when the market reaches a particular goal. This function permits for twenty-four/7 buying and selling, executing offers even when financial institution branches are closed.
Full Suite Dealing: Customers can independently lock in each Spot offers for fast settlement and Ahead offers to hedge towards future volatility.
The platform is focused at companies and people transacting a minimal quantity of $50,000 per 30 days. Its launch follows I&M Financial institution’s current extension of its partnership with Mastercard, signaling a broader technique to digitize its cost and treasury ecosystems.
By integrating Straight-By means of Processing, the financial institution is positioning itself to seize a bigger share of the company market that calls for pace and auditability. The know-how ensures that after a shopper clicks to commerce, the order is settled immediately with out human interference, successfully eliminating the chance of guide errors and processing delays.
purchasers can presently onboard by contacting the financial institution’s International Markets division.
[Secure Your Seat at Africa Tech Summit Nairobi 2026 | February 11–12 here] Use code TTRENDS10 at checkout to save lots of 10% in your go and be a part of the leaders constructing Africa’s $1 trillion cross-border cost future.
Go to TECHTRENDSKE.co.ke for extra tech and enterprise information from the African continent.
Observe us on WhatsApp, Telegram, Twitter, and Fb, or subscribe to our weekly e-newsletter to make sure you don’t miss out on any future updates. Ship tricks to editorial@techtrendsmedia.co.ke
