Ant International and Standard Chartered, supported by Swift’s infrastructure, have rolled out live production trials for a bank-to-wallet payment solution leveraging ISO 20022.
Through Alipay+, the global gateway service offered by Ant International, the first transactions were completed between a Standard Chartered Bank customer account and a partner e-wallet. By enhancing global money transfers, the solution leverages the Swift network of over 11,500 financial institutions in more than 200 countries and territories to connect to 1.7 billion user accounts across 36 digital wallets within the Alipay+ ecosystem, particularly across high-potential Asian markets.
Furthermore, Standard Chartered commented on the move, saying that being the bank of choice to conceptualise, test, and deliver this solution underlines the financial institution’s banking platform versatility and its strategic relationship with Swift and Ant International. Standard Chartered plans to continue advancing finance and supporting the industry's development, ensuring security and compliance with regulatory requirements.
Ant International, Standard Chartered, and Swift intend to continue to work together to facilitate bank-to-wallet transactions on a global scale. Additionally, when it comes to Ant International, the company emphasises its commitment to facilitating cross-sector collaboration through fintech advancements, creating a more connected payment and financial ecosystem for businesses and consumers with high standards of transparency and safety, as part of its focus on promoting global interoperability and inclusion.
Ant International x Standard Chartered
Just before announcing this new bank-to-wallet solution in partnership with Swift, Ant International and Standard Chartered joined forces to provide an AI-enabled treasury and FX management solution. Through this alliance, the two companies sought to introduce a service that could optimise treasury and FX, with the solution being developed to integrate Ant International’s Falcon Time-Series Transformer (TST) Model with Standard Chartered’s Aggregated Liquidity Engine (SCALE). Additionally, the move was planned to diminish FX costs and improve risk management for Ant International and its clients, as the integration was set to enable efficient and secure data exchange that led to AI-powered FX forecasting in real time and 24/7.
