Ant International and Barclays Partner to Revolutionize Currency Risk Management with AI
Ant International has formed a strategic alliance with Barclays, the leading UK bank, to enhance the efficiency and resilience of global treasury management for businesses. This partnership combines innovative solutions, including Ant’s AI-powered Foreign Exchange (FX) model and Time-Series Transformer (TST), designed to help companies reduce FX costs and risks amid global volatility.
Highlights of the Collaboration:
- AI-Driven FX Model:
- Ant International’s Time-Series Transformer (TST) is a big data model with nearly 2 billion parameters, utilizing state-of-the-art time series forecasting algorithms to predict market patterns.
- The TST model enables businesses to forecast cash flows and FX exposure with over 90% accuracy on hourly, daily, and weekly intervals, leading to more precise FX transaction volumes.
- Cost Reduction and Improved Precision:
- By using the TST model, businesses can reduce unnecessary hedging costs and bank risk premiums, thereby lowering overall FX costs.
- Barclays integrates the model into its BARX NetFX platform, enhancing its currency hedging accuracy, which leads to cost savings for businesses.
- Enhanced Currency Hedging with Barclays:
- Barclays’ Guaranteed FX platform, which serves the e-commerce and payment sectors, now integrates Ant’s TST model, optimizing currency forecasts and hedging processes for greater precision and cost-effectiveness.
- The partnership also offers businesses competitive exchange rates and stable pricing for major currencies, such as the euro and US dollar.
- Strategic Collaboration:
- The collaboration represents a significant milestone in transforming currency risk management, enabling businesses to mitigate FX volatility using AI, thus enhancing global treasury management efficiency.
Testimonies from Industry Leaders:
- Ben Parkinson, Global Head of Fintech Sales and Currency Automation at Barclays, praised the collaboration, highlighting how the advanced forecasting capabilities of Ant International’s AI model have helped reduce uncertainty and costs in currency risk management.
- Kelvin Li, General Manager of Platform Technology at Ant International, emphasized how the collaboration with Barclays marks a significant step in optimizing global liquidity strategies for businesses.
Future of Currency Risk Management:
- The collaboration comes at a time when global cross-border transactions are expected to surpass $290 trillion by 2030. Ant International and Barclays are working together to extend their solutions to cover more currencies, enhancing their offerings and meeting the diverse needs of international businesses.
