Ant International has launched an upgraded AI model for financial applications and partnered with 6 major global banks.
The Singapore-based fintech company introduced the Falcon Time-Series Transformer Model 2.0 on Thursday. According to Kelvin Li, General Manager of Platform Technology at Ant International, the company has partnered with banks including Citi, HSBC, Deutsche Bank, Standard Chartered and Barclays. The company said the wider partnership involves 6 large banks.
The model is designed specifically for financial scenarios and focuses on foreign exchange forecasting. Li said specialised financial models can offer an advantage over general-purpose AI models, which have “yet to achieve a universal breakthrough in the financial sector.”
Ant International expects the technology to help financial institutions improve forecasting and make more efficient decisions around foreign exchange hedging and liquidity allocation.
“Precise forecasting can slash foreign exchange hedging and allocation costs by over 60%,” Li said.
The launch comes as financial institutions globally accelerate efforts to integrate AI into core operations. Banks are increasingly exploring specialised AI systems that can address financial use cases rather than relying only on general-purpose models.
Ant International is the overseas affiliate of Ant Group, the Chinese fintech company founded by Jack Ma. The company raised $1.2 billion in its latest equity fundraising last month as it looks to expand its business.
The upgraded model adds to Ant International’s push to develop AI capabilities tailored to financial services, with foreign exchange forecasting emerging as a key application.
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