Capital A & Ant International Revolutionize Aviation Treasury with AI
Capital One, the parent company of AirAsia, has joined forces with Ant International to revolutionize its treasury and foreign exchange management. The partnership, the first of its kind on Ant International's Falcon platform, is set to significantly reduce costs and enhance pricing stability for customers.
The AI system, developed by Ant International, uses the Falcon Time-Series Transformer Model to forecast cash flow and FX exposure with remarkable 90% accuracy. This innovation is a game-changer for Capital One, which processes around 2.9 billion payment transactions annually, worth approximately US$1 trillion. The partnership has already led to a 40% reduction in hedging costs for Capital One, with potential FX cost savings of up to 60% for selected currency pairs in the aviation industry.
The solution, built specifically for the aviation sector, is trained on a vast dataset of 80 million travel-related data points. It integrates seamlessly with Capital One's corporate banking partner's fixed FX rate infrastructure, ensuring smooth transactions for AirAsia. Both companies plan to expand these AI-driven capabilities through Ant International's Bettr Treasury Platform, marking a significant step towards transforming treasury and FX management for businesses in the industry.
The partnership between Capital One and Ant International is set to transform treasury and FX management in the aviation industry. With the potential for substantial cost savings and improved pricing stability, this innovative use of AI is poised to benefit both airlines and their customers. The first industry-specific solution built on Ant International's Falcon platform, it signals a new era of technological advancement in financial management for businesses.
