Ant Interntional has completed the first batch of intra-group FX transactions with Barclays.
Ant International
has joined forces with a UK bank
Barclays
to enhance financial operations for companies.
Barclays will integrate Ant’s Time-Series Transformer (TST) AI FX model to its FX hedging platform, BARX NetFX, which serves the e-commerce and payment industries. Their goal is to reduce businesses’ foreign exchange (FX) related costs.
Ant has already reportedly completed the first batch of its intra-group FX transactions with Barclays.
The Ant’s TST model is a transformer architecture-based system featuring nearly two billion parameters. This deep-learning tool is tailored to comprehend intricate data structures, enabling efficient processing of extensive datasets and facilitating temporal pattern prediction.
The TST model is said to forecast a company’s cashflow and FX exposure with an over 90% accuracy on an hourly, daily, and weekly basis.
This partnership forms part of Barclays’ FX Automation strategy, concentrating on creating solutions that enable their customers to digitalize processes and enhance FX hedging efficiency.
Leave a Reply