Citi teams up with Ant to improve airline FX solutions

The Falcon TST Model can predict future data points by learning patterns using AI.

Citi is piloting the use of Ant International's Falcon Time-Series Transformer (TST) Model to enhance its foreign exchange (FX) risk management solution for airline customers.

Citi’s Fixed FX rates solution supports over 70 currencies. FX rates are locked-in and agreed upon.

The solution aims to offer greater payment solutions for the airline industry, which processes billions of payment transactions annually.

The Falcon TST Model is a transformer architecture based big data model with close to 2 billion parameters. It predicts future data points by learning patterns from large historical data sets using AI technology.

The model is expected to help businesses improve the efficiency and accuracy of their cashflow and FX exposure forecasts.