Six major banks adopt Ant International's forex AI tool to slash hedging costs by over 60%
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Citi, HSBC, StanChart adopt Ant International's forex AI tool
HONG KONG, Aug 20 (Reuters) - Ant International launched an upgraded version of its artificial intelligence model on Thursday, signing up major global banks as financial institutions accelerate the adoption of specialised AI to manage liquidity risks. The Singapore-based fintech giant rolled out its Falcon Time-Series Transformer Model ā 2.0 and has partnered with six large banks including Citi (C.N), opens new tab, HSBC (HSBA.L), opens new tab, Deutsche Bank (DBKGn.DE), opens new tab, Standard Chartered (STAN.L), opens new tab, and Barclays (BARC.L), opens new tab, according to Kelvin Li, the firm's general manager of platform tech. The launch comes amid an accelerating global race among financial institutions to embed AI into their core ā operations. Li said the model specialises in financial scenarios and has an edge over general-purpose large models, which have "yet to achieve a universal breakthrough ā in the financial sector." "Precise forecasting can slash foreign exchange hedging and allocation costs by over 60%," ā Li said. Ant International, an overseas affiliate of the Jack Ma-founded Chinese fintech firm Ant ā Group, raised $1.2 billion last month in its latest equity fundraising as it seeks to expand. Reporting by Selena Li; Editing by Thomas Derpinghaus Our Standards: The Thomson Reuters Trust Principles., opens new tab
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Citi, HSBC, StanChart adopt Ant International's forex AI tool
HONG KONG, Aug 20 (Reuters) - Ant International launched an upgraded version of its artificial intelligence model on Thursday, signing up major global banks as financial institutions accelerate the adoption of specialised AI to manage liquidity risks. The Singapore-based fintech giant rolled out its Falcon Time-Series Transformer Model 2.0 and has partnered with six large banks including Citi, HSBC, Deutsche Bank, Standard Chartered, and Barclays, according to Kelvin Li, the firm's general manager of platform tech. The launch comes amid an accelerating global race among financial institutions to embed AI into their core operations. Li said the model specialises in financial scenarios and has an edge over general-purpose large models, which have "yet to achieve a universal breakthrough in the financial sector." "Precise forecasting can slash foreign exchange hedging and allocation costs by over 60%," Li said. Ant International, an overseas affiliate of the Jack Ma-founded Chinese fintech firm Ant Group, raised $1.2 billion last month in its latest equity fundraising as it seeks to expand. (Reporting by Selena Li; Editing by Thomas Derpinghaus)
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Ant International launched Falcon Time-Series Transformer Model 2.0, partnering with Citi, HSBC, Deutsche Bank, Standard Chartered, and Barclays. The specialized forex AI tool promises to cut foreign exchange hedging and allocation costs by over 60%, marking a significant shift as financial institutions accelerate AI adoption for liquidity risk management.
Major Banks Partner with Ant International on Specialized Forex AI Tool
Ant International unveiled its upgraded Falcon Time-Series Transformer Model 2.0 on Thursday, securing partnerships with six major global banks including Citi, HSBC, Deutsche Bank, Standard Chartered, and Barclays
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. The Singapore-based fintech giant, an overseas affiliate of Jack Ma-founded Ant Group, positions this forex AI tool as a specialized solution designed specifically for financial scenarios, distinguishing it from general-purpose AI models that have struggled to gain traction in the financial sector2
.Dramatic Cost Reductions Through Financial Forecasting
According to Kelvin Li, Ant International's general manager of platform tech, the AI model delivers precise forecasting capabilities that can slash foreign exchange hedging and allocation costs by over 60%
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. This represents a substantial improvement in forex risk management for financial institutions grappling with volatile currency markets. Li emphasized that the model's specialization in financial scenarios gives it an edge over general-purpose large models, which have "yet to achieve a universal breakthrough in the financial sector"2
.Accelerating AI Adoption Among Financial Institutions
The launch reflects an intensifying global race among financial institutions to embed AI into their core operations. Banks are increasingly turning to specialized AI solutions to manage liquidity risks and optimize treasury functions. The adoption of Falcon Time-Series Transformer Model 2.0 by major players signals growing confidence in purpose-built AI tools designed specifically for financial applications rather than adapted general-purpose models. This shift suggests financial institutions are prioritizing accuracy and domain expertise over versatility when selecting AI partners for critical operations like hedging and allocation costs management.
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Ant International's Expansion Strategy
The forex AI tool launch comes as Ant International pursues aggressive expansion. The company raised $1.2 billion last month in its latest equity fundraising round
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. This capital injection positions the fintech firm to scale its specialized AI offerings across more financial institutions globally. As the overseas affiliate of Ant Group, Ant International operates from Singapore and appears focused on carving out a niche in AI-powered financial forecasting and risk management tools. The partnerships with established banking giants like Citi, HSBC, Deutsche Bank, Standard Chartered, and Barclays provide validation for its technology and create potential for wider adoption across the banking sector as institutions seek competitive advantages through AI-driven efficiency gains.References
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