Citi and Ant International have launched a pilot program leveraging AI to help clients manage foreign exchange risk. This initiative blends Citi’s Fixed FX Rates solution, often used by companies in the e-commerce sector, with Ant International’s Falcon Time-Series Transformer model, an advanced AI forecasting tool aimed at reducing hedging costs for businesses.

The pilot, initially focused on aviation clients, has already seen live implementation, allowing Asian airlines to cut their fixed FX hedging expenses for online ticket sales. According to company statements, this program has enabled the airline in question to achieve a 30% reduction in hedging costs.

Ant International, an arm of China’s fintech giant Ant Group, specializes in global digital payment solutions and financial technology, operating across regions including Asia, Europe, the Middle East, and Latin America. This recent venture follows Citi’s broader AI initiative, which was launched six months ago, involving a roll-out of new AI tools for employees in eight countries.

Other banks are also adopting AI technologies for specific applications. For instance, Morgan Stanley introduced an AI chatbot to assist financial advisors during client interactions, while Bank of America’s virtual assistant, Erica, is designed to manage daily transactions for retail clients.

Recent Initiatives at Citi

In July 2025, Citi introduced Fenergo’s Client Lifecycle Management (CLM) platform in parts of its Global Transfer Agency operations across Europe. This move was aimed at enhancing the efficiency of investor onboarding processes and ensuring compliance with regulations for regulated funds. The implementation aligned with Citi’s strategy to boost digital capabilities within its Fund Services division, catering to institutional clients like asset and investment managers.