Ant International Signs Major Banks for Forex AI Model
Ant International launched an upgraded foreign exchange AI model on Thursday and signed partnerships with six large banks, reports Reuters. The banks include Citi, HSBC, Deutsche Bank, Standard Chartered, and Barclays.
The Singapore based fintech company rolled out Falcon Time-Series Transformer Model 2.0. Kelvin Li, Ant International's general manager of platform tech, said the model is built for financial scenarios and is designed to help manage liquidity risks.
Li said precise forecasting can cut foreign exchange hedging and allocation costs by more than 60%. Ant International is an overseas affiliate of Ant Group, the Chinese fintech company founded by Jack Ma.
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