Global AI in Fintech Market to Grow at 19.9% During 2025-2033, Bolstered by Rapid Digitization

December 24, 2024 | Technology & Media

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According to the latest report by IMARC Group, titled “AI in Fintech Market Report by Type (Solutions, Services), Deployment Model (Cloud-based, On-premises), Application (Virtual Assistant (Chatbots), Credit Scoring, Quantitative and Asset Management, Fraud Detection, and Others), and Region 2025-2033,” finds that the global AI in fintech market size reached USD 17.6 Billion in 2024. Fintech, or financial technology, is the use of advanced technology with financial services to automate banking and financial services. Artificial intelligence (AI) in the finance industry helps examine the cash, credit, and investment accounts of the organization. It also oversees the overall financial health by keeping up with real-time changes and customizing advice based on incoming data. AI and machine learning (ML) greatly benefit the finance industry as they help to process a large amount of data and information about customers. Nowadays, AI solutions in fintech are increasingly gaining traction due to the associated advantages of minimized cost, increased efficiency, reduced error, and better customer experience. It can also identify personally identifiable information (PII) leaked on the dark web while undertaking necessary actions to secure the data.

Global AI in Fintech Market Trends:

The market is primarily driven by rapid advancements in technology, which have improved the business processes of financial service providers. The growing internet penetration and availability of spatial data are also fueling the market growth. Besides this, there has been an increasing demand for process automation among financial organizations, which is facilitating the evolution of cognitive process automation, where AI systems can perform more complex processes. In addition to this, various credit card companies are implementing predictive analytics into their existing fraud detection workflows to reduce false positives, which is significantly influencing the demand for AI in fintech. Moreover, rapid digitization in the banking, financial services and insurance (BFSI) industry that helps in operating virtual assistance, debt collection, sentiment and predictive analysis, reporting, and customer behavior analysis represents another major growth-inducing factor. Furthermore, the rising utilization of smart contracts for financial processes and the improvements in IT infrastructure are positively impacting the market growth. Looking forward, the market value is projected to reach USD 97.7 Billion by 2033, expanding at a CAGR of 19.9% during 2025-2033.

Market Summary:

Based on the type, the market has been segmented into solutions and services.
On the basis of the deployment model, the market has been classified into cloud-based and on-premises.
The market has been categorized based on the application into virtual assistance (chatbots), credit scoring, quantitative and asset management, fraud detection, and others.
Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
The competitive landscape of the market has been examined, with some of the key players being Amazon Web Services Inc. (Amazon.com Inc), Google LLC (Alphabet Inc.), Inbenta Holdings Inc., Intel Corporation, International Business Machines Corporation, Microsoft Corporation, Salesforce.com Inc., Samsung Electronics Corporation Limited, TIBCO Software Inc., Trifacta Inc., and Verint Systems Inc.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
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
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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Global AI in Fintech Market to Grow at 19.9% During 2025-2033, Bolstered by Rapid Digitization

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