Ant International and Deutsche Bank have partnered to provide enhanced payment solutions for businesses of all sizes across Europe and Asia. By working together, they will combine their strengths and utilize Ant International’s advanced technology—such as AI for foreign exchange and digital tokenisation—to facilitate faster, easier and more efficient payments.
In a statement on Tuesday, the two companies announced that the bank will collaborate with Ant International’s finance team to explore new ways to enhance global money management and international payments. This includes exploring digital tools such as tokenized deposits, stablecoins, and Ant’s AI-powered Time-Series Transformer (TST) model for foreign exchange.
Deutsche Bank will be the first bank in Germany to assist Ant International in utilising a new blockchain-based system. This system will enable Ant International to quickly transfer funds between its offices in different countries, making fund transfers faster and in real-time.
They will also collaborate on new methods to enhance international payments. This includes trying out various options, such as digital versions of bank deposits, stablecoins (a type of digital currency), and Ant International’s special FX model, called Falcon TST. The goal is to help Ant International and its customers save money and mitigate the risks associated with currency exchange.
Both companies will also explore the use of stablecoins for global payments. This includes helping Ant’s businesses move money across borders quickly, manage their funds more effectively, and facilitate easier exchange between stablecoins and traditional currencies.
Deutsche Bank will also team up with Antom, a company that helps merchants with payments and digital services. Together, they will work to grow their partnership and make Antom’s payment solutions available to more merchants in Europe, the Middle East, and Africa (EMEA). This will help merchants easily connect with more payment options.
The bank will also help WorldFirst with its payment services for small and medium businesses that sell online or trade internationally. This includes things like collecting money, making payments, and currency exchange.
“With a dynamic fintech landscape, Europe is fast becoming a key hub for global digital payment innovation,” said Kelvin Li, General Manager of Platform Tech at Ant International.
“We are pleased to deepen our commitment to the region through this collaboration with Deutsche Bank, supporting the development of more seamless, secure and inclusive cross-border payment solutions,
“By combining our digital and payment capabilities with a global leading financial institution we aim to deliver enhanced payment experiences that meet the evolving needs of global businesses and consumers,” he added.
“We will leverage our broad product capabilities and strong global network to deliver seamless and secure payment solutions to Ant International and its customers in Europe and Asia,
“Given the dynamic landscape of financial services, we see great potential to collaborate with Ant International, as one of the world’s leading financial technology providers,
to develop innovative payment solutions and transform the future of treasury management,” he added.
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