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 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.

AI in Fintech Market Trends:
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 shirt 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.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global AI in fintech market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, deployment model and application.

Breakup by Type:

Solutions
Services

Breakup by Deployment Model:

Cloud-based
On-premises

Breakup by Application:

Virtual Assistant (Chatbots)
Credit Scoring
Quantitative and Asset Management
Fraud Detection
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
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. Key Questions Answered in This Report:
How has the global AI in fintech market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global AI in fintech market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the deployment model?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global AI in fintech market and who are the key players?
What is the degree of competition in the industry?