Rather than replacing a human, the bot is designed to help them make better investment decisions, predicting the best bond prices when they're being bought and sold.
Katana, as the tool is called, has already been tested at the banks emerging markets desk in London and will now be rolled out further. The trial found 90 per cent of trades could be made quicker and that costs were reduced by 25 per cent.
And the AI can learn from trading history to better improve its predictions for prices.
“We have seen some examples of applied AI on the trading floor before, but in most cases they have a narrow focus on automation, which restricts them to liquid asset classes where the trader is replaced by a machine," said global head of credit trading at ING's wholsale bank, Santiago Braje.
"With Katana, AI is applied to enhance the traders’ decision-making abilities, allowing them to deploy their natural intuition and expertise in the most effective way. This is a powerful combination. Our traders stay fully in control, but are now better equipped to give the best quote to our clients every time.”
ING is embracing open banking, unveiling Yolt this summer, an app that offers none of its own products but lets users manage their money.
Have something to tell us about this article?