Three major global banks—Citi, HSBC and Standard Chartered—are among six financial institutions adopting Ant International’s upgraded AI-driven foreign exchange tool, the company said on Wednesday.
The Falcon Time-Series Transformer Model 2.0, developed by Ant International, a Singapore-based fintech affiliate of China’s Ant Group, specializes in FX forecasting and liquidity risk management. Deutsche Bank and Barclays are also among the adopters, bringing the total number of partner institutions to six.
Kelvin Li, general manager of platform technology at Ant International, highlighted the model’s potential to reduce hedging and allocation costs in foreign exchange transactions by over 60%. The tool is designed to enhance precision in FX liquidity management, a critical function for large banks handling high-volume currency flows.
Ant International raised $1.2 billion in its latest equity fundraising last month to expand operations, underscoring its push into AI-driven financial infrastructure. The company emphasized that while general-purpose large language models have yet to achieve a universal breakthrough in the financial sector, its time-series model is tailored for FX-specific applications.
The adoption by major banks reflects growing interest in AI-powered solutions to optimize trading costs and risk exposure in volatile currency markets. Ant International operates as the overseas arm of Ant Group, which was founded by Jack Ma and remains a key player in digital payments and financial technology.
