Barclays integrates Ant Int’l model to FX hedging platform

Ant Interntional has completed the first batch of intra-group FX transactions with Barclays.

Ant International has partnered with UK bank Barclays to improve treasury management for businesses.

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.

Ant’s TST model is a transformer architecture-based big data model with close to 2 billion parameters. It uses deep learning designed for understanding complex data patterns to process large amounts of data, and can predict patterns over time.

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.

The collaboration is part of Barclays’ FX Automation strategy, which focuses on developing tools that help their clients digitise workflows and optimise FX hedging.