Ant International leverages advanced artificial intelligence (AI) technology to streamline and secure cross-border transactions for nearly 100 million small and medium-sized businesses across more than 200 markets.
One of its key innovations is an AI-powered foreign exchange (FX) model that can predict exchange rates hourly.
This increased accuracy reduces transaction costs and increases financial flexibility for merchants.
This model integrates hundreds of existing systems into a single, more precise framework and reflects years of development.
To ensure reliability, Ant International Avoid over-reliance on AI and maintain human intervention safeguards to address discrepancies.
In response to the growing threat of deepfake technology, Ant International has also developed advanced anti-deepfake electronic know-your-customer (e-KYC) tools.
The system, which has a detection success rate of over 99%, was developed over two years to combat AI-powered fraud and improve transaction security.
The recent company signed Signed a memorandum of understanding with OCBC Bank to enable 24/7 real-time trading between Singapore and Malaysia using Ant’s Whale platform.
Additionally, Japan’s PayPay has expanded its partnership with Ant’s cross-border payments solution, Alipay+, to enhance payment options for foreign tourists in Japan.
Yan Peng, CEO of Ant International, said:
“Integrating AI in the processing of cross-border transactions is critical to further strengthening global trade and commerce, especially for small and medium-sized enterprises that have traditionally lacked access to real-time international payment services.
When implementing AI into merchant services, improving fraud detection and prevention against new fraud schemes like deepfakes is just as important, if not more so, than improving operational efficiency. ”
Featured image: Ant International CEO Yan Peng during the 2024 Singapore FinTech Festival
