Borrowed brain: an SME-only digital bank that plugs into Ant International's AI credit, risk and eKYC stack and distributes loans through partner platforms rather than building visible AI products of its own.
How is ANEXT using AI?
ANEXT Bank, Ant International's Singapore digital wholesale bank for small businesses, uses AI chiefly through its parent: Ant's AI-powered Credit Tech and Risk Tech, which added the bettr credit service to ANEXT in 2024, plus Ant-built eKYC for remote onboarding and lending inside the AI-powered EPOS360 merchant app. ANEXT publishes no model metrics. Its 2025 accounts show the cost: a S$49.8 million loss as loans fell to S$636 million and deposits rose to S$1.15 billion. Kai Qiu, its former CTO, is CEO.
Category
Neobank
Founded
2021
Headquarters
Singapore, Singapore
Licence and supervision
Singapore digital wholesale bank (ANEXT Bank Pte. Ltd.), licensed and supervised by the Monetary Authority of Singapore; may take deposits from and serve SMEs and other non-retail customers. Applicant named December 4, 2020; MAS approval to commence business June 2, 2022.
Scale
S$1.15 billion of customer deposits and S$636 million of loans at December 31, 2025, with a S$49.8 million loss for 2025 (audited accounts, March 2026); serves 20,000+ small businesses (company website, October 2026)
Flagship platform
Ant International Credit Tech and Risk Tech (bettr), eKYC and EPOS360 copilot
AI leadership
Kai Qiu · Toh Su Mei · Peng Yang
- MAS named an Ant Group-owned entity one of two digital wholesale bank applicants on December 4, 2020; ANEXT received approval to commence business on June 2, 2022 and soft-launched on June 6, 2022, focusing on micro, small and medium enterprises with cross-border operations.
- Ant International says that in 2024, 'leveraging AI-powered Credit Tech and Risk Tech capabilities', it added a new inclusive credit service under the bettr brand to ANEXT Bank; ANEXT also onboards customers remotely with a proprietary eKYC tool built by Ant International, per the South China Morning Post.
- ANEXT's CreditNow is a document-free credit line of up to S$300,000 for businesses with at least six months of activity with the bank; ANEXT does not describe the model behind the credit assessment.
- 2025 audited accounts: loss of S$49.8 million (2024: S$37.2 million); loans fell to S$636 million from S$847 million while deposits rose to S$1.15 billion from S$906 million; impairment losses rose to S$38.1 million; CET1 ratio 67.5%.
- In 2024 revenue rose 83.5% to S$44.9 million, loans grew more than 280% and cost-to-income fell to 116.1% from 187.4%, the bank said; 69% of customers were micro businesses and owners came from 79 nationalities.
- Kai Qiu, ANEXT's deputy CEO and CTO, was named CEO-designate in January 2025, with founding CEO Toh Su Mei stepping down effective March 31, 2025; Ant International now lists Qiu as CEO of ANEXT Bank.
- From early 2026 ANEXT's accounts and collateral-free loans, with instant approval from S$5,000 for eligible merchants, are embedded in Antom's AI-powered EPOS360 app, which includes an 'Antom Copilot' for merchants.
What is Ant International Credit Tech and Risk Tech (bettr), eKYC and EPOS360 copilot?
Ant International says it used its AI-powered Credit Tech and Risk Tech capabilities in 2024 to add a credit service branded bettr to ANEXT Bank. ANEXT onboards customers remotely with a proprietary eKYC tool from Ant International, and its tech stack includes modular APIs, KYB engines and biometric eKYC. From 2026 its accounts and collateral-free loans are offered inside Antom's AI-powered EPOS360 merchant app with a built-in copilot. Former CEO Toh Su Mei said in 2025 the bank uses 'AI and data' from digital credit to risk management; no model metrics are published.[11][10][12][14]
What has ANEXT Bank done on AI, and when?
- Oct 7, 2026
MAS issues Guidelines on AI Risk Management[20]
The Guidelines apply to all MAS-regulated institutions, including wholesale banks, with oversight expectations from October 2027 and lifecycle controls from October 2028.
- Mar 25, 2026
2025 accounts: wider loss and a shrinking loan book[16]
Loss for the year S$49.8 million; loans and advances fell to S$636 million while deposits reached S$1.15 billion; impairment losses S$38.1 million. Auditor's report dated March 25, 2026.
- Jan 12, 2026
Ant International's 2025 review cites ANEXT[15]
Ant International said ANEXT saw a six-fold increase in cross-border transaction volumes in 2025, with 69% of customers micro-businesses.
- Nov 12, 2025
ANEXT lending embedded in AI-powered EPOS360[14]
Antom announced the EPOS360 app with a built-in AI copilot, with banking and collateral-free financing from ANEXT and instant approval from S$5,000 for eligible merchants; availability was due in early 2026.
- May 15, 2025
2024 results: revenue S$44.9 million, loss S$37.2 million[13]
Deposits rose 207% to S$906 million and loans more than 280% to S$847 million; cost-to-income fell to 116.1%.
- Feb 20, 2025
Best Digital Bank award; CEO succession announced[12]
The Asian Banker named ANEXT Best Digital Bank in Singapore; Toh said the bank uses AI and data across digital credit and risk management, and Ant confirmed Kai Qiu as CEO-designate with Toh stepping down effective March 31, 2025.
- Dec 6, 2024
bettr credit service added using Ant's AI credit tech[11]
Ant International said that in 2024, using AI-powered Credit Tech and Risk Tech, it added the bettr inclusive credit service to ANEXT Bank.
- Jun 6, 2024
Two years in: customers doubled, cross-border volume up six-fold[9]
ANEXT reported more than two-fold customer growth over 12 months, a six-fold rise in cross-border transaction value, and loans of S$222 million at end-2023.
- Mar 27, 2024
Ant adds S$200 million of capital[8]
Fintech Futures reported, citing ACRA filings first reported by DealStreetAsia, that ANEXT received another S$200 million from Ant Group, taking total investment above $500 million.
- Dec 17, 2023
CEO flags AI and data analytics plans[7]
Toh Su Mei said ANEXT planned to leverage artificial intelligence and data analytics to anticipate customer needs, and that WorldFirst and other Ant units refer borrowers to the bank.
- Nov 10, 2023
API repository launched[6]
CTO Qiu Kai said partners could go live 'two times quicker than the industry standard' for a basic financing module; the bank aimed to reach more than one million regional SMEs through partners.
- Nov 3, 2022
Embedded-finance programme for platforms[5]
The ANEXT Programme for Industry Specialists opened to marketplaces, fintechs and solution providers to embed ANEXT financing; the first two partners served close to 15,000 SMEs.
- Jun 6, 2022
Soft launch after MAS approval on June 2[3][4]
ANEXT soft-launched with a dual-currency business account using three-factor authentication and remote onboarding, and signed an MoU with MAS-initiated trade platform Proxtera; Reuters called it one of Ant's biggest overseas pushes since its derailed IPO.
- Dec 4, 2020
Where does ANEXT Bank use AI today?
| System | What it does | Status | Use case |
|---|---|---|---|
| bettr credit service on Ant's AI Credit Tech[11] | Ant International says it used AI-powered Credit Tech and Risk Tech capabilities to add the bettr inclusive credit service to ANEXT Bank in 2024; volumes at ANEXT are not disclosed. | In production | Credit scoring & underwriting |
| Document-free CreditNow credit line[18] | Credit line of up to S$300,000 with no documents for businesses with at least six months of activity with ANEXT, subject to the bank's credit assessment; the bank does not say whether AI models are used. | In production | Credit scoring & underwriting |
| Remote onboarding with Ant-built eKYC[10][12] | ANEXT verifies customers electronically with a proprietary tool from Ant International and lists KYB engines and biometric eKYC in its stack, letting foreign owners open accounts without travelling to Singapore. | In production | AML / KYC |
| Three-factor authentication with facial verification[3][17] | Password, OTP and facial verification secure account opening and every transaction, a feature ANEXT has offered since launch. | In production | Fraud detection |
| EPOS360 merchant copilot with ANEXT banking[14] | Antom's EPOS360 app, with an 'Antom Copilot' that suggests inventory and promotions and monitors cash flow, embeds ANEXT accounts and instant small loans; announced November 2025 for early 2026 availability. | Announced | Generative & agentic AI |
| Reliance on the parent's AI stack[11][7] | Credit Tech, Risk Tech and eKYC tools come from Ant International, and Ant units such as WorldFirst refer borrowers, so ANEXT's model risk sits partly with its parent. | In production | Third-party & vendor AI |
| AI and data across credit and risk[12] | Founding CEO Toh Su Mei said in February 2025 that the bank uses AI and data to improve operating efficiency and customer experience, 'from digital credit to risk management'; no specific systems or outcomes are named. | Announced | AI governance (general) |
Use-case links open the tracker's rules-by-use-case matrix: which documents govern each system type.
What has ANEXT Bank disclosed in numbers?
| Metric | Value | As of |
|---|---|---|
| Loss for the year | S$49.8 million (2025), from S$37.2 million (2024)[16] | Dec 31, 2025 |
| Deposits from customers | S$1.15 billion (from S$906 million)[16] | Dec 31, 2025 |
| Loans and advances to customers | S$636 million (from S$847 million)[16] | Dec 31, 2025 |
| Impairment losses on financial instruments | S$38.1 million (2024: S$30.0 million)[16] | Dec 31, 2025 |
| CET1 capital adequacy ratio | 67.5% (2024: 65.6%)[16] | Dec 31, 2025 |
| Revenue 2024 | S$44.9 million, up 83.5%; cost-to-income 116.1% (2023: 187.4%)[13] | Dec 31, 2024 |
| Small-business customers | 20,000+[17] | Oct 24, 2026 |
“This includes using AI and data to uplift operation efficiency and customer experience, with cutting-edge solutions from digital credit to risk management.”[12]
Toh Su Mei · CEO, ANEXT Bank · Feb 20, 2025
“Data will enable us to have a holistic view of the customers, and we will continue to work on these areas.”[7]
Toh Su Mei · CEO, ANEXT Bank · Dec 17, 2023
“As an example, our partners are able to go live two times quicker than the industry standard for a basic financing module via the programme.”[6]
Qiu Kai · Chief Technology Officer, ANEXT Bank · Nov 10, 2023
“This marks yet another milestone in Singapore’s digital bank development journey, a strategic effort to ensure the banking sector remains progressive, globally competitive and vibrant.”[3][4]
Sopnendu Mohanty · Chief Fintech Officer, Monetary Authority of Singapore · Jun 6, 2022
Who runs AI at ANEXT Bank?
Which regulators govern ANEXT Bank's AI?
| Authority | Why it matters here | Documents |
|---|---|---|
| MAS | ANEXT holds a MAS digital wholesale bank licence; its credit models, eKYC and any copilot-based services fall under MAS's AI risk-management guidelines, which let a group-owned FI rely on regional or group governance only if it can show oversight of Singapore risks. | MAS Guidelines on Artificial Intelligence Risk Management MAS AI Model Risk Management information paper MAS FEAT Principles |
| Personal Data Protection Commission (Singapore) | ANEXT's biometric eKYC, facial verification on every transaction and partner-platform data used for embedded lending involve personal data of business owners governed by Singapore's PDPA. |
Linked authorities have a page in the Regulation tracker; the others are named for completeness and not yet tracked.
What does the public record suggest about ANEXT Bank's AI strategy?
Analysis by BankingNewsAI from the sources cited on this page. Observations, not advice.
01
The AI is the parent's, and so is much of the risk
bettr, the eKYC tool and the EPOS360 copilot are all Ant International products; ANEXT has disclosed no model, metric or AI governance structure of its own.
02
Loans shrank while credit costs rose
Loans fell 25% to S$636 million in 2025 as impairment losses climbed to S$38.1 million, so whatever AI underwriting the bank uses has not yet produced a profitable book.
03
Distribution through platforms is the strategy
From the 2022 industry programme to EPOS360, ANEXT reaches borrowers inside partner software, which makes partner data quality and onboarding controls central to its credit decisions.
04
A technologist now runs the bank
The move from founding CEO Toh Su Mei to former CTO Kai Qiu in 2025 put the person who built the API and onboarding stack in charge.
05
Heavily capitalised, deposit-rich
A 67.5% CET1 ratio and deposits well above loans leave room to lend; the constraint shown in the accounts is credit quality, not capital.
How does ANEXT Bank use AI?
Mostly through parent Ant International. Ant says it used AI-powered Credit Tech and Risk Tech to add the bettr credit service to ANEXT in 2024; ANEXT onboards customers with an Ant-built eKYC tool, and its loans are embedded in Antom's AI-powered EPOS360 merchant app. ANEXT publishes no AI metrics; its 2025 accounts show a S$49.8 million loss and S$636 million of loans.
Is ANEXT Bank a real bank?
Yes. ANEXT Bank Pte. Ltd. is a digital wholesale bank licensed by the Monetary Authority of Singapore, which approved it to commence business on June 2, 2022. Under MAS's framework a digital wholesale bank may take deposits from and serve SMEs and other non-retail customers, but not individual retail customers. It held S$1.15 billion of customer deposits at end-2025.
Who owns ANEXT Bank?
ANEXT is a wholly owned subsidiary of Ant International, the Singapore-headquartered international arm affiliated with Ant Group; its 2022 launch materials named Ant Group as owner. Fintech Futures reported in March 2024 that total investment from its parent exceeded $500 million, and share capital stood at S$675 million at end-2025.
Is ANEXT Bank profitable?
No. Its audited 2025 accounts show a S$49.8 million loss, up from S$37.2 million in 2024, as impairment losses rose to S$38.1 million and loans fell to S$636 million from S$847 million. Deposits grew to S$1.15 billion, and its CET1 capital ratio was 67.5%.
Who is the CEO of ANEXT Bank?
Kai Qiu, previously ANEXT's deputy CEO and chief technology officer. He was named CEO-designate in January 2025, and founding CEO Toh Su Mei stepped down effective March 31, 2025 to become an honorary advisor to Ant International. Ant International lists Qiu as CEO of ANEXT Bank; as CTO he launched the bank's API repository in 2023.
What is ANEXT CreditNow?
CreditNow is ANEXT's revolving business credit line of up to S$300,000 with no documents required, available to Singapore-incorporated businesses with at least six months of activity with the bank, with tenures up to 12 months. ANEXT does not disclose how its credit assessment works; separately, Ant International says its AI Credit Tech powers the bettr credit service at ANEXT.
- MAS Announces Successful Applicants of Licences to Operate New Digital Banks in Singapore
- Digital Bank Licence (retrieved 2026-10-24)
- ANEXT Bank Soft Launches Today As Singapore's Newest Digital Wholesale Bank
- China's Ant Group launches digital bank ANEXT in Singapore
- ANEXT Bank Launches New Industry Initiative to Scale Financial Inclusion for SMEs
- With 7 In 10 SMEs Wanting To Get Access To Financial Services From Non-Banking Platforms, ANEXT Bank Welcomes Three New Partners
- Partnerships and focusing on SMEs key for ANEXT Bank
- Anext Bank in Singapore reportedly receives another $148m investment from parent company Ant Group
- ANEXT Bank Reports a Surge in Regional and Global Presence Among Its MSME Customers
- Digital bank backed by Ant targets smaller businesses with quick, easy financial services (South China Morning Post)
- Ant International Deepens Payment and Digitalisation Ecosystem with AI-Driven Embedded Finance Solutions in Year of Transformation
- ANEXT Bank Crowned Best Digital Bank in Singapore
- ANEXT Bank recorded S$44.9M revenue in 2024, up 83.5%
- Ant International's Antom Launches AI-Powered MSME App for Finance and Business Operations
- Ant International Powered Over 2 Billion Transactions in its Core Emerging Markets in 2025
- ANEXT Bank Pte. Ltd. — Financial Statements FY 2025
- ANEXT Bank | Singapore's digital bank for MSMEs (retrieved 2026-10-24)
- ANEXT Business Loans | Flexible Financing for MSMEs (retrieved 2026-10-24)
- About Ant International | Our Mission and Vision (retrieved 2026-10-24)
- MAS Sets Out Supervisory Expectations on Responsible AI Adoption by Financial Institutions
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