TLDR: Citigroup and Ant International have launched a pilot program featuring an AI-powered currency forecasting tool that has successfully reduced foreign exchange hedging costs for an aviation client by 30%. This innovative solution combines Citi’s Fixed FX Rates with Ant International’s Falcon Time-Series Transformer AI model, aiming to enhance efficiency and risk management for businesses operating across multiple currencies.
Singapore, July 19, 2025 – In a significant stride towards revolutionizing foreign exchange risk management, global banking giant Citigroup and Singapore-based fintech firm Ant International have announced the successful pilot of an AI-powered currency tool designed to dramatically cut hedging costs for businesses, particularly within the aviation sector. The joint initiative has already demonstrated its efficacy by achieving a remarkable 30% reduction in FX hedging expenses for a major Asian airline during live transactions for online ticket sales.
Foreign exchange volatility poses a substantial challenge for global businesses, with currency fluctuations capable of significantly impacting profitability, especially for industries like airlines that handle billions in cross-border transactions annually. Addressing this critical need, the new solution integrates Citi’s widely utilized Fixed FX Rates platform, which supports over 70 currencies and serves clients across e-commerce, travel, and airlines, with Ant International’s cutting-edge Falcon Time-Series Transformer (TST) Model.
Ant International’s Falcon TST Model is a sophisticated AI system boasting nearly two billion parameters. This advanced neural network is capable of processing vast historical datasets to predict future currency movements with exceptional precision, achieving an accuracy rate of over 90% in Ant International’s own use cases. By combining this powerful forecasting capability with Citi’s robust FX rates solution, businesses can lock in more precise rates, thereby minimizing unnecessary hedging and associated risk premiums.
Kelvin Li, General Manager of Platform Tech at Ant International, emphasized the impact of this collaboration, stating, “This is the first industry-tailored solution developed from our Falcon TST Model with a bank partner to serve their customers. The 30% hedging cost savings Ant International has achieved for the pilot airline customer shows the cost efficiency that can be achieved with AI-enabled FX hedging. We are excited to expand the solution with Citi to serve more businesses and industries.”
Sam Hewson, Global Head of FX Sales at Citi, added, “We are constantly evolving our products and solutions to support new use cases built on our clients’ priorities.” This partnership underscores a broader trend in the financial sector where major institutions are increasingly leveraging artificial intelligence to enhance operational efficiency, manage risk, and improve client services. Other prominent banks, including Morgan Stanley and Bank of America, have also been investing in AI-driven solutions for client support and day-to-day transactions.
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Ant International, an affiliate of China’s fintech giant Ant Group, brings its extensive global footprint, spanning Asia, Europe, the Middle East, and Latin America, to accelerate the adoption of these AI-driven tools. The success of this pilot program paves the way for the solution’s expansion into other sectors, promising significant cost efficiencies and improved financial management for businesses navigating complex global currency markets.
