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The global AI in fintech market reached a value of US$ 9.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 36.1 Billion by 2027, exhibiting at a CAGR of 26.1% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Fintech, or financial technology, refers to the integration of advanced technologies with financial services to enhance or automate banking and investing operations. Artificial intelligence (AI) is widely used in financial institutions for detecting and preventing frauds through digital banking channels. It involves digital lending, credit scoring, mobile banking, asset management, insurance and trading processes. AI in fintech is also utilized for operating robo-advisors to provide financial planning services based on the goals, risk tolerance, financial standing, budget and spending patterns of the individuals. It also identifies any personally identifiable information (PII) leaked on the dark web and undertakes necessary actions to secure the data.
The rapid digitization of the banking, financial services and insurance (BFSI) industry across the globe is one of the key factors driving the growth of the market. AI in fintech is widely used for operating virtual assistance, debt collection, sentiment and predictive analysis, reporting and customer behavior analysis. It enhances efficiency, minimizes the chances of human error and can process large volumes of data in a short period. In line with this, AI also assists in the automated and real-time examination of cash, credit, and investment accounts for analyzing the financial health of the individual and generating customized insights for future growth. Additionally, various technological advancements, such as the integration of fintech solutions with machine learning (ML), neural network, big data and evolutionary algorithms, are acting as other growth-inducing factors. These technologies provide enhanced monitoring of financial transactions, risk management, speech recognition and secured network access to the banking institutions. Other factors, including the increasing utilization of smart contracts for financial processes, along with significant improvements in the information technology (IT) infrastructure, are anticipated to drive the market toward growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global AI in fintech market report, along with forecasts for growth at the global and regional level from 2022-2027. Our report has categorized the market based on type, deployment model and application.
Breakup by Type:
Breakup by Deployment Model:
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Amazon Web Services Inc. (Amazon.com Inc), Google LLC (Alphabet Inc.), Inbenta Technologies Inc., Intel Corporation, International Business Machines Corporation, Microsoft Corporation, Salesforce.com Inc., Samsung Electronics Co. Ltd., TIBCO Software Inc., Trifacta and Verint Systems Inc.
|Base Year of the Analysis||2021|
|Segment Coverage||Type, Deployment Model, Application, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Amazon Web Services Inc. (Amazon.com Inc), Google LLC (Alphabet Inc.), Inbenta Technologies Inc., Intel Corporation, International Business Machines Corporation, Microsoft Corporation, Salesforce.com Inc., Samsung Electronics Co. Ltd., TIBCO Software Inc., Trifacta and Verint Systems Inc.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: 2499
Five User License: 3499
Corporate License: 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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