Standard Chartered and Ant International have launched a new artificial intelligence-powered Treasury and FX Management Solution, integrating Ant’s Falcon Time-Series Transformer (TST) Model with the bank’s Aggregated Liquidity Engine (SCALE).
Standard Chartered and Ant International Unveil AI-Powered FX and Treasury Solution
The companies said in a press release that the collaboration expands their partnership from blockchain to AI-enabled global cash management, aiming to cut foreign exchange costs and improve risk management for Ant International and its clients.
Both companies are participants in the Monetary Authority of Singapore’s PathFin.ai programme, which seeks to advance AI adoption in financial services.
The joint system is said to enable real-time data exchange and AI-powered FX forecasting, with Standard Chartered stating the integration allows it to predict Ant’s FX exposures with more than 90 per cent accuracy.
This, in turn, is expected to help manage risk more effectively and reduce clients’ hedging costs.
Falcon now forecasts Ant’s cashflow and FX exposures on hourly, daily and weekly bases, processing more than 60 per cent of Ant’s FX-related transactions and lowering FX costs by up to 60 per cent.
Madhu Menon, Global Head of SC PrismFX Sales at Standard Chartered, said: “Our latest collaboration with Ant International sets the path for an innovative approach to managing and hedging FX risk and costs for Ant International and their clients globally.”
Kelvin Li, General Manager of Platform Tech at Ant International, added: “By integrating Standard Chartered’s robust banking capabilities with Ant International’s innovative solutions, we are able to enhance the way businesses manage their global liquidity and FX strategy.”
The partners said they would continue to expand their cooperation as cross-border transaction volumes rise.
