Ant International and Standard Chartered announced on Monday that they are working together to launch a new solution for managing treasury and foreign exchange (FX) using artificial intelligence (AI). This solution combines Ant International’s Falcon Time-Series Transformer (TST) Model with Standard Chartered’s Aggregated Liquidity Engine (SCALE) to help businesses handle their finances and currency exchanges more efficiently.
The duo said in a statement that the duo are active Pathfinder institutions in the Monetary Authority of Singapore (MAS)’ financial sector PathFin.ai program, and this collaboration is a leading example of how AI is augmenting Singapore’s financial sector services.
Building on their long-term partnership in blockchain technology, Ant International and Standard Chartered are working together to reduce foreign exchange (FX) costs and improve risk management for Ant and its clients.
By combining Ant’s Falcon TST Model with Standard Chartered’s SCALE platform, the new solution allows data to flow seamlessly between the two systems. This enables AI-powered FX forecasting in real time, 24 hours a day, 7 days a week.
The integrated system is part of Standard Chartered’s FX Automation Program, which supports multi-currency transactions and international vendor payments around the clock. This helps businesses lower costs and protect themselves from FX fluctuations when trading across borders.
With Falcon TST and SCALE working together, Standard Chartered can predict Ant International’s FX exposures with over 90% accuracy, allowing the bank to manage FX risk better and reduce clients’ hedging costs—all in real time, every day.
“We continue to invest in our platforms and adopt cutting-edge technology to support our clients in effectively managing their risks and exposures, especially during these volatile times,” said Madhu Menon, Global Head of SC PrismFX Sales at Standard Chartered.
“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,
“We are looking forward to expand our collaboration with Ant International further and continue to shape the future of Treasury Management,” he added.
Kelvin Li, General Manager of Platform Tech at Ant International, said that expanding the partnership with Standard Chartered is an important step in the company’s plan to use technology, including AI, to create advanced solutions for cross-border payments.
“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 so that they can experience more efficient cross-border transactions,” he added.
Ant International’s Falcon TST Model is a big data AI system with nearly 2 billion parameters. Using advanced time series forecasting algorithms, it learns patterns from large amounts of historical data to predict future cashflow and foreign exchange (FX) needs. This helps businesses plan better, improve accuracy, and reduce FX and hedging costs.
Falcon now predicts Ant International’s cashflow and FX exposure on an hourly, daily, and weekly basis with over 90% accuracy. It currently handles more than 60% of Ant International’s FX conversion transactions, cutting FX costs by up to 60% and liquidity management costs by up to 50% for the company and its clients.
Standard Chartered’s Aggregated Liquidity Engine (SCALE) is a flexible FX platform that helps corporate and financial clients get guaranteed FX rates for pricing products or receiving payments in multiple currencies, available 24/7. Using Standard Chartered’s global network, SCALE gives clients access to FX liquidity, lowers FX risk, and makes cross-border transactions faster and easier.
Together, Ant International and Standard Chartered are committed to using innovative technologies like AI to improve global transactions and support businesses worldwide.
As the volume of cross-border transactions continues to grow, both sides will continue to develop innovative solutions that allow businesses to transact across borders more seamlessly and securely, said the statement.
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