I&M Bank today announced the official launch of I&M FX DIRECT, an online foreign exchange trading platform set to transform how businesses in Kenya manage their forex needs.
I&M FX DIRECT directly addresses the common challenges of manual forex dealings, such as execution delays and the need for constant phone communication. The core innovation, Straight-Through Processing (STP), ensures client orders are executed instantly without manual intervention, leading to:
- STP eliminates manual input, ensuring accuracy and speed.
- Trades are executed and confirmed immediately.
- Businesses gain direct control and rapid response to market movements.
“The launch of I&M FX DIRECT marks a significant milestone in our commitment to leading the digital transformation of treasury operations,” said Kihara Maina, Interim Chief Executive Officer, I&M Bank Kenya. “We are empowering our business clients by giving them direct control over their forex trades. This platform encourages the adoption of electronic forex trading over traditional methods by demonstrating the clear benefits of speed, transparency, and control. It is backed by the security, reliability, and expert support our clients trust.”
Beyond STP, I&M FX DIRECT equips businesses with a comprehensive suite of features designed for a competitive edge:
- Real-Time Pricing: Access to live streaming currency rates and competitive spreads to capitalize on market opportunities instantly.
- Comprehensive Dealing: The ability to lock in both Spot (immediate) and Forward (future) forex deals.
- Advanced Order Management: Supports placing specific forex orders that are executed automatically once the market meets the client’s predefined criteria.
- Total Accessibility: A secure, web-based platform accessible globally across desktop or mobile devices with no installation required.
The platform is ideal for businesses and individuals transacting minimum volumes of $50,000 per month.
Interested clients and new customers are encouraged to speak with their Relationship Manager or email globalmarkets@imbank.co.ke to begin the onboarding process.