Innovative Interventions Ensuring Cross-border Banking and Trade Across East Africa

Cross-border banking is an important feature of the global financial system. This explains why banks are expanding beyond their home countries, to follow and accommodate customers, be able to finance cross border trade, as well as tap into new markets.

By setting up cross border branches, subsidiaries, and digital platforms, banks now move capital and provide services that support regional integration, as well as extend economic activity.

Across the world, many banks have presence in more than one country, enabling them to serve customers beyond their home markets, as well as ease trade and investment across borders.

In East Africa, the biggest enabler of cross-border banking has been the ease of regional movement, as borders are open to member citizens under the EAC Common Market Protocol on free movement.

The policy has greatly reduced barriers for individuals and businesses, driving regional banking growth. As a result, banks now craft products and solutions to cater for cross-border customers, whose financial needs extend beyond a single country.

It is within this context of growing mobility and regional integration that I&M Bank rolled out a new campaign dubbed IMBRISK in November 2025.

IMBRISK is designed to enable seamless cross-border transactions for customers across key East African markets.

The platform allows users to deposit, withdraw, and transfer funds at any I&M Bank branch in Uganda, Kenya, Tanzania, and Rwanda, regardless of where the mother account is held, offering convenience for individuals and businesses operating regionally.

IMBRISK is accessible to everyone that has an I&M Bank account. The initiative enables customers to bank using their local currencies at any I&M Bank branch, across the region.

The initiative addresses long-standing challenges faced by cross-border traders, frequent travellers, import-export businesses, and professionals who have previously encountered delays and complications when accessing or transferring funds across borders.

By facilitating smooth access to finances, in local currency, without the need for multiple accounts, the solution supports the practical needs of a mobile and interconnected customer base.

These innovations are emerging at a time when East Africa’s cross-border payments ecosystem is undergoing rapid transformation.

In 2025, the region’s cross-border payments rapidly evolved, driven by the EAC’s new Cross-Border Payment System Masterplan for integrated, instant transfers, alongside pilots linking national systems and wider adoption of solutions like PAPSS (Pan-African Payment and Settlement System), boosting intra-regional trade and remittances, with significant growth in digital acceptance by providers like Mastercard.

The scale of this opportunity is substantial. According to MicroSave Consulting, as of 2025, the market is worth approximately USD 329 billion. It is projected to triple to USD 1 trillion by 2035, driven by fintech innovation, the rise of mobile money, and increased intra-African trade. This expansion translates to a compound annual growth rate (CAGR) of about 12%.

Driving this growth is a steady increase in regional economic activity. Trade has increased significantly, with goods moving through inland border posts and airports. Total merchandise trade in the East African Community reached about USD 38.2 billion in Q2 2025, up 28.4% from the same period in 2024.

While some traders still rely on cash for foreign transactions, solutions like IMBRISK have become essential in facilitating transfers, making it easier for businesses and individuals to operate seamlessly.

Beyond trade, travel within the EAC is increasingly common as citizens visit neighbouring countries for leisure, education, and family reasons.

About 40% of tourism activity in recent years has been intra-regional. As more East Africans travel across borders, cross-border banking has become essential, allowing travellers and businesses to pay for goods, services, and accommodation seamlessly without needing multiple accounts or cash in each country.

By aligning banking services with the realities of a mobile and interconnected region, cross-border banking solutions are helping to support economies, strengthen regional ties, and make it easier for East Africans to live, work, and do business beyond national borders.