Standard Chartered and Ant International have announced a collaboration to launch an AI-powered Treasury and FX Management Solution. This innovative solution integrates Ant International’s Falcon Time-Series Transformer (TST) Model with Standard Chartered’s Aggregated Liquidity Engine (SCALE) to improve foreign exchange (FX) cost effectiveness and risk management for Ant’s clients.
The partnership, which builds on the companies’ previous blockchain collaborations, aims to lower FX costs and enhance risk management. The integration of Falcon TST and SCALE allows for real-time, 24/7 AI-powered FX forecasting, enabling seamless data exchange and improved accuracy in predicting FX exposures.
Madhu Menon, Global Head of SC PrismFX Sales at Standard Chartered, stated, “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.” Kelvin Li, General Manager of Platform Tech at Ant International, added that the partnership enhances businesses’ global liquidity and FX strategy, leading to more efficient cross-border transactions.
The Falcon TST Model, a big data model with nearly 2 billion parameters, uses AI to predict future data points, improving cashflow and FX exposure forecasts. It currently processes over 60% of Ant International’s FX transactions, reducing FX costs by up to 60% and liquidity management costs by up to 50%.
As cross-border transactions grow, Standard Chartered and Ant International are committed to developing innovative solutions to facilitate seamless and secure international business operations.
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