Artificial Intelligence and Cross-Border Payments: Ant International's Innovative FX Model for SMEs

Artificial Intelligence in Cross-Border Payments

Artificial intelligence (AI) is reshaping the landscape of cross-border payments for small- and medium-sized enterprises (SMEs). Ant International, an arm of Chinese financial giant Ant Group, is deploying AI to enhance the efficiency of these transactions.

Introducing Ant's Innovative FX Model

Ant International has introduced an innovative FX model designed to predict currency exchange rates hourly for both inbound and outbound transactions. This system is pivotal in helping businesses reduce transaction costs and better allocate resources.

• Yang Peng, CEO of Ant International, emphasized the importance of AI integration for global trade:
• “Integration of AI into cross-border transactions is critical for enhancing global commerce, especially for SMEs that previously could not afford real-time global settlement services.”

Combating Cyber Threats with AI

The firm has also dedicated significant resources to develop a Know Your Customer tool aimed at detecting cyberattacks potentially enabled by generative AI (GenAI) applications like deepfakes. The interception success rate of this tool exceeds 99%, showcasing a robust defense against digital fraud.

Broader Implications and Expansion Plans

Ant Group's foray into the GenAI market with offerings like the Zhixiaobao app is paving the way for a user-focused technological solution, as noted by CFO Cyril Han Xinyi. As part of its strategy, Ant International has been expanding its Alipay+ platform, facilitating cross-border payments for over 88 million merchants globally.

1. Alipay+ supports more than 30 global e-wallets and banking apps.
2. Recent partnerships include collaboration with Japan's PayPay, covering over 3 million local merchants.