AI in Fintech Market Key Highlights:
- Market Size (2024): USD 13.52 Billion
- Projected Market Size (2034): USD 59.64 Billion
- CAGR (2024-2034): 16%
Pricing Analysis:
- Price Growth
- Regional Variations
Market Historic Sales
- Total sales volume, year-over-year growth, product categories, and market share.
Revenue Estimation
- Forecasting future revenues based on historical data, market trends, and economic indicators.
Sales by Region
- Breakdown of sales performance across different geographical areas.
Revenue by Manufacturer
- Analysis of revenue contributions from different manufacturers in the market.
AI in Fintech Market Definition
AI in fintech is defined as the utilization of artificial intelligence technologies to enhance financial processes and services. In fintech, AI can help to analyze the data from various sources to draw key insights and can also help to identify fraudulent activities and threats. Some examples of AI in fintech are ML algorithms for credit scoring etc. The growing need for automation and individualized financial services is expected to drive market growth.
- In October 2024, Wipro, a Top 10 consulting firm for financial services, announced its collaboration with Microsoft to launch a suite of generative AI-powered cognitive assistants: Wipro GenAI Investor, Wipro GenAI Investor Intelligence, Onboarding, and Wipro GenAI Loan Origination.
Limited technical expertise and complexities related to cloud deployment models along with increased regulations can hamper market growth significantly over the forecast period. Despite all this, increasing digitization of the financial services, banking, and (BFSI) industry globally can boost the growth of AI in the Fintech Market.
- In December 2023, IBM collaborated with TechPassport to facilitate partnerships between banks and fintechs emphasizing easing onboarding, security, and compliance processes.
AI in Fintech Market Segmentation:
By Solution
By Fintech Domains
- Digital Banking
- Insurtech
- Embedded Finance
- Digital Lending
- Digital Payments
- Investments & Wealth
- Crypto/Blockchain
By End User
- Banks
- Insurance Providers
- Investments Firms
- Financial Technology Providers
- Mobile Payment Companies
- RegTech Vendors
- Government Regulatory Agencies
- Crypto Exchanges
- Other End User
By Application
- Financial Fraud Intelligence
- Financial Analytics & Modelling
- Automated Claims Processing
- Chatbots/Virtual Assistants
- Robo Advisory
- Financial Risk Assessment
- Other Applications
AI in Fintech Market Companies:
- AWS
- IBM
- Microsoft
- Google
- AWS
- Intel
- Salesforce
- NVIDIA
- Oracle
- Affirm Inc.
- Amelia US LLC
- Nuance Communications Inc.
- Instructure Inc.
- TIBCO Software
- Complyadvantage.com
- Upstart Network Inc.
- H2O.ai
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