Standard Chartered has announced its partnership with Ant International in order to offer an AI-powered treasury and FX management solution.
Following this announcement, the collaboration is expected to introduce an AI-powered treasury and FX Management solution, which was developed to integrate Ant International’s Falcon Time-Series Transformer (TST) Model with Standard Chartered’s Aggregated Liquidity Engine (SCALE).
In addition, the partnership aims to lower FX costs and improve risk management for Ant International and its clients, as the integration of the two platforms will enable efficient and secure data exchange that leads to AI-Powered FX forecasting in real time and 24/7. Both companies will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
More information on the Standard Chartered x Ant International partnership
According to the official press release, the integrated solution is part of Standard Chartered's FX Automation Programme, which was developed to support the multi-currency booking and international vendor settlement needs in real time and 24/7. At the same time, this process aims to optimise the manner in which businesses mitigate costs and FX volatility when transacting across borders.
In addition, with the integration of Falcon TST and SCALE, Standard Chartered will have the possibility to forecast Ant International’s FX exposures with more than 90% accuracy, which in turn will enable the bank to manage its FX risk more effectively, as well as lower the client’s FX hedging cost, all in real-time. Furthermore, Falcon will forecast Ant International’s cash flow and FX exposure on an hourly, daily, and weekly basis, with more than 90% accuracy, as it is currently used to process more than 60% of Ant International’s transactions that involve FX conversion. This process aims to effectively reduce the company and its customers’ FX costs by up to 60%, as well as the liquidity management costs by up to 50%.
Through the process of leveraging Standard Chartered’s extensive network, SCALE will provide clients with access to FX liquidity, reduce FX risk, and streamline settlements for secure and efficient cross-border business flows.
Standard Chartered and Ant International will remain committed to the process of development, as well as exploring new technologies that serve businesses and their global transaction needs. As the volume of cross-border transactions continues to grow, both institutions are expected to continue to launch optmised solutions that allow businesses to transact across borders more securely.
