Citi, HSBC, StanChart adopt Ant International’s forex AI tool
HONG KONG: 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 ,…
Citi, HSBC, and StanChart have adopted Ant International's upgraded AI tool, accelerating the integration of specialized AI in managing liquidity risks. The Singapore-based fintech company, Ant International, introduced its Falcon Time-Series Transformer Model 2.0, partnering with six major banks, including Citi, HSBC, Deutsche Bank, Standard Chartered, and Barclays.
Kelvin Li, the firm's general manager of platform tech, explained that the model specializes in financial scenarios and outperforms general-purpose large models that have yet to achieve a universal breakthrough in the financial sector. Li claimed that precise forecasting can reduce foreign exchange hedging and allocation costs by over 60%.
In its latest equity fundraising last month, Ant International raised $1.2 billion to expand its operations.
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