Singapore-headquartered Fintica AI, a provider of next-generation artificial intelligence (AI) for the financial industry, and Spark Systems, a global foreign exchange (FX) trading platform, have formed a partnership that will enable Spark Systems to accelerate its business development and market reach in Singapore, and globally, by bringing Fintica AI’s unsupervised AI technology to its client base.

The finance sector in Singapore has witnessed a remarkable transformation in recent years, with the growing importance and relevance of AI technology as well as a rapidly expanding foreign exchange market at its forefront.

As well, Singapore has positioned itself as a global financial hub, and its financial institutions are increasingly turning to AI, the companies says, to pursue efficiency and profitability. AI-powered solutions, such as those created by Fintica AI, have revolutionized various aspects of finance, from AI-augmented investment decision and risk management to enhanced market liquidity and monitoring.

Fintica AI’s solutions, the fintech points out, “enable analysis of vast amounts of data, giving financial institutions greater leverage to make data-driven decisions swiftly and accurately. This move, therefore, holds the potential to make Singapore’s financial sector not only more competitive, but also more innovative in the global arena.”

The decision of Spark Systems to partner with Fintica AI is a key example of how the Singapore ecosystem, the companies point out, is investing in becoming one of the most dynamic financial sectors in the world, driving further innovation and cementing the city-state’s reputation as a cutting-edge financial centre.

“AI is neither artificial nor science fiction anymore,” says Wong Joo Seng, Spark Systems’ executive director and CEO. “It’s real and happening now. Traders armed with AI will possess the most significant edge the industry has seen to date.”

Philippe Metoudi, Fintica AI’s CEO, adds: “This partnership will enable us to leverage each other’s strengths, tap into the immense potential of Singapore’s financial institutions and fintech ecosystem, and deliver innovative solutions that will shape the future of FX.”