Artificial Intelligence In Fintech Market Growth & Trends
The global artificial intelligence in fintech market size is expected to reach USD 41.16 billion by 2030, growing at a CAGR of 16.5% from 2022 to 2030, according to a new report. Artificial intelligence (AI)is widely used in financial organizations to improvise their precision levels, enhance their efficiency and instant query resolving through digital banking channels. AI technology like machine learning can help organizations raise their value by improving loan underwriting and eliminating financial risk. Organizations are also using it to build more robust fraud detection and prevention systems and help accelerate risk assessments and fraud detection.
The market is expected to increase in the coming years due to advancement in technology that is boosting financial service providers’ business processes. Some of the primary drivers of the market include growing internet penetration and geographical data availability. AI and machine learning have aided banks and fintech firms by allowing them to process massive volumes of client data. For instance, in March 2022, KBC Group, a Belgian-based multi-channel bank insurer, commercialized its portfolio of AI applications through Discai, its wholly-owned subsidiary, beginning with introducing an AI application meant to prevent money laundering.
Disc AI will first provide a unique and high-performance AI-based system for closely monitoring money laundering, take a phased approach to the market, and collaborate with partners to distribute and integrate these applications. Financial institutions and banks are implementing AI technologies to unlock insights and information hidden in unstructured documents and automate the manual processes that banks have historically performed at double-quick speed. In addition, the growing demand for process automation between financial institutions is propelling the market. Blockchain and distributed ledger technology enhance AI adoption in the financial sector by providing new means to record, track, and store financial asset transactions.
Growing awareness of the benefits of cloud-based firewalls among small- and medium-sized organizations, particularly in developing nations, will create numerous opportunities for market expansion. For instance, in May 2022, The Czech Republic Finance Ministry, a government ministry in charge of economic policy, revenue service, insurance, the government budget, banking, and security, initiated a project to maximize the potential of fintech apps and data used in financial services in the country. The project was implemented by the Organization for Economic Cooperation and Development and funded by the European Union in collaboration with the European Commission’s DG REFORM-Directorate-General for Structural Reform Support.
Furthermore, it will include a feasibility analysis of the possible formation of a sandbox in the Czech Republic and the prospects of data in financial services to let the fintech innovation be based on shared data. Fintech has been evolving in the investment management sector. Advanced technology and solution adoption, such as AI, big data, and machine learning, to assist businesses in evaluating investment possibilities, optimizing their investment portfolios, and mitigating related risks, have been significant in technology adoption.
A prominent trend in AI in the fintech business is the widespread use and integration of smart mobile payment solutions as customers worldwide become more reliant on digital payment methods than traditional wallets. Many participants in the market provide payment platforms and are continually adding new features, such as voice commands and biometric access control, which includes fingerprint and facial recognition. For instance, in November 2021, Paytm, an Indian multinational financial technology provider, announced the launch of a new feature, ‘Voice Trading’, driven by AI, which allows customers to acquire stock information or place a trade with a single voice command. The voice trading function allows a single voice command to be processed instantly using neural networks and Natural Language Processing (NLP).
Artificial Intelligence In Fintech Market Report Highlights
- Some of the regions in North America have the most competitive and constantly changing AI technology in the world’s fintech sector. In the industrialized economies of Canada and the U.S., there is a strong emphasis on R&D-derived inventions
- The adoption of software tools with the deployment of AI-enabled financial solutions extracts accurate, comprehensive, and enormous amounts of data on time
- The growing adoption of managed services helps administer AI-enabled fintech applications and is expected to drive the market growth
- Cloud-based solutions store vital resources and provide a wide range of flexible AI solutions for the fintech business. The segment generated the highest revenue in 2021
- The North America region dominated the global market in 2021. However, Asia Pacific is projected to register the fastest CAGR from 2022 to 2030
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Table of Contents
Chapter 1. Methodology and Scope1.1 Market Segmentation & Scope
1.2 Market Definitions
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 Internal database
1.3.3 Secondary Sources & Third Party Perspective
1.3.4 Primary Research
1.4 Information Analysis
1.4.1 Data Analysis Models
1.5 Market Formulation and Data Visualization
1.6 Data Validation and Publishing
Chapter 2. Executive Summary
2.1 Market Outlook
2.1.1 Global Ai in Fintech Market Size Estimates & Forecasts 2017 - 2030 (Usd Million)
2.2 Segmental Outlook
2.2.1 Global Ai in Fintech Market, by Region 2017 - 2030 (Usd Million)
2.2.2 Global Ai in Fintech Market, by Components 2017 - 2030 (Usd Million)
2.2.3 Global Ai in Fintech Market, by Deployment 2017 - 2030 (Usd Million)
2.2.4 Global Ai in Fintech Market, by Application 2017 - 2030 (Usd Million)
Chapter 3. Market Variables, Trends & Scope
3.1 Market Introduction
3.2 Industry Value Chain Analysis
3.3 Market Dynamics
3.3.1 Covid - 19 Impact Analysis
3.3.2 Market Driver Analysis
3.3.2.1 Growing Internet Penetration and Geographical Data Availability
3.3.2.2 Growing Demand for Process Automation Between Financial Institutions
3.3.3 Market Restraint/Challenges Analysis
3.3.3.1 Ever-Increasing Rivalry in the Finance Sector
3.4 Key Small-Sized Ai in Fintech Companies, by Region/Country
3.5 Penetration & Growth Prospect Mapping
3.6 Industry Analysis - Porter’S
3.7 Key Company Ranking Analysis, 2021
3.8 Pest Analysis
Chapter 4. Ai in Fintech Market: Components Outlook
4.1 Components Movement Analysis & Market Share, 2021 & 2030
4.2 Solutions
4.2.1 Solutions Tools Ai in Fintech Market Size Estimates and Forecasts 2017 - 2030 (Usd Million)
4.3 Services
4.3.1 Services Ai in Fintech Market Size Estimates and Forecasts 2017 - 2030 (Usd Million)
4.3.1.1 Managed Services Ai in Fintech Market Size Estimates and Forecasts 2017 - 2030 (Usd Million)
4.3.1.2 Professional Services Ai in Fintech Market Size Estimates and Forecasts 2017 - 2030 (Usd Million)
Chapter 5. Ai in Fintech Market: Deployment Outlook
5.1 Deployment Movement Analysis & Market Share, 2021 & 2030
5.2 Cloud
5.2.1 Cloud Ai in Fintech Market Size Estimates and Forecasts 2017 - 2030 (Usd Million)
5.3 On-Premise
5.3.1 On-Premise Ai in Fintech Market Size Estimates and Forecasts 2017 - 2030 (Usd Million)
Chapter 6. Ai in Fintech Market: Application Outlook
6.1 Application Movement Analysis & Market Share, 2021 & 2030
6.2 Virtual Assistant
6.2.1 Virtual Assistant Ai in Fintech Market Size Estimates and Forecastes 2017 - 2030 (Usd Million)
6.3 Business Analytics and Reporting
6.3.1 Business Analytics and Reporting Ai in Fintech Market Size Estimates and Forecasts 2017 - 2030 (Usd Million)
6.4 Customer Behavioral Analytics
6.4.1 Customer Behavioral Analytics Ai in Fintech Market Size Estimates and Forecasts 2017 - 2030 (Usd Million)
6.5 Fraud Detection
6.5.1 Fraud Detection Ai in Fintech Market Size Estimates and Forecasts 2017 - 2030 (Usd Million)
6.6 Quantitative and Assest Management
6.6.1 Quantitative and Asset Management Ai in Fintech Market Size Estimates and Forecasts 2017 - 2030 (Usd Million)
6.7 Others
6.7.1 Others Ai in Fintech Market Size Estimates and Forecasts 2017 - 2030 (Usd Million)
Chapter 7. Regional Estimates and Trend Analysis
7.1 Regional Market Size Estimates & Forecasts, 2021 & 2030 (Usd Million)
7.2 Regional Movement Analysis & Market Share, 2021 & 2030
7.3 North America
7.3.1 North America Ai in Fintech Market, by Components 2017 - 2030 (Usd Million)
7.3.2 North America Ai in Fintech Market, by Deployment 2017 - 2030 (Usd Million)
7.3.3 North America Ai in Fintech Market, by Application 2017 - 2030 (Usd Million)
7.3.4 U.S.
7.3.4.1 U.S. Ai in Fintech Market, by Components 2017 - 2030 (Usd Million)
7.3.4.2 U.S. Ai in Fintech Market, by Deployment 2017 - 2030 (Usd Million)
7.3.4.3 U.S. Ai in Fintech Market, by Application 2017 - 2030 (Usd Million)
7.3.5 Canada
7.3.5.1 Canada Ai in Fintech Market, by Components 2017 - 2030 (Usd Million)
7.3.5.2 Canada Ai in Fintech Market, by Deployment 2017 - 2030 (Usd Million)
7.3.5.3 Canada Ai in Fintech Market, by Application 2017 - 2030 (Usd Million)
7.3.6 Mexico
7.3.6.1 Mexico Ai in Fintech Market, by Components 2017 - 2030 (Usd Million)
7.3.6.2 Mexico Ai in Fintech Market, by Deployment 2017 - 2030 (Usd Million)
7.3.6.3 Mexico Ai in Fintech Market, by Application 2017 - 2030 (Usd Million)
7.4 Europe
7.4.1 Europe Ai in Fintech Market, by Components 2017 - 2030 (Usd Million)
7.4.2 Europe Ai in Fintech Market, by Deployment 2017 - 2030 (Usd Million)
7.4.3 Europe Ai in Fintech Market, by Application 2017 - 2030 (Usd Million)
7.4.4 U.K.
7.4.4.1 U.K. Ai in Fintech Market, by Components 2017 - 2030 (Usd Million)
7.4.4.2 U.K. Ai in Fintech Market, by Deployment 2017 - 2030 (Usd Million)
7.4.4.3 U.K. Ai in Fintech Market, by Application 2017 - 2030 (Usd Million)
7.4.5 Germany
7.4.5.1 Germany Ai in Fintech Market, by Components 2017 - 2030 (Usd Million)
7.4.5.2 Germany Ai in Fintech Market, by Deployment 2017 - 2030 (Usd Million)
7.4.5.3 Germany Ai in Fintech Market, by Application 2017 - 2030 (Usd Million)
7.4.6 France
7.4.6.1 France Ai in Fintech Market, by Components 2017 - 2030 (Usd Million)
7.4.6.2 France Ai in Fintech Market, by Deployment 2017 - 2030 (Usd Million)
7.4.6.3 France Ai in Fintech Market, by Application 2017 - 2030 (Usd Million)
7.5 Asia-Pacific
7.5.1 Asia-Pacific Ai in Fintech Market, by Components 2017 - 2030 (Usd Million)
7.5.2 Asia-Pacific Ai in Fintech Market, by Deployment 2017 - 2030 (Usd Million)
7.5.3 Asia-Pacific Ai in Fintech Market, by Application 2017 - 2030 (Usd Million)
7.5.4 China
7.5.4.1 China Ai in Fintech Market, by Components 2017 - 2030 (Usd Million)
7.5.4.2 China Ai in Fintech Market, by Deployment 2017 - 2030 (Usd Million)
7.5.4.3 China Ai in Fintech Market, by Application 2017 - 2030 (Usd Million)
7.5.5 India
7.5.5.1 India Ai in Fintech Market, by Components 2017 - 2030 (Usd Million)
7.5.5.2 India Ai in Fintech Market, by Deployment 2017 - 2030 (Usd Million)
7.5.5.3 India Ai in Fintech Market, by Application 2017 - 2030 (Usd Million)
7.5.6 Singapore
7.5.6.1 Singapore Ai in Fintech Market, by Components 2017 - 2030 (Usd Million)
7.5.6.2 Singapore Ai in Fintech Market, by Deployment 2017 - 2030 (Usd Million)
7.5.6.3 Singapore Ai in Fintech Market, by Application 2017 - 2030 (Usd Million)
7.6 South America
7.6.1 South America Ai in Fintech Market, by Components 2017 - 2030 (Usd Million)
7.6.2 South America Ai in Fintech Market, by Deployment 2017 - 2030 (Usd Million)
7.6.3 South America Ai in Fintech Market, by Application 2017 - 2030 (Usd Million)
7.6.4 Brazil
7.6.4.1 Brazil Ai in Fintech Market, by Components 2017 - 2030 (Usd Million)
7.6.4.2 Brazil Ai in Fintech Market, by Deployment 2017 - 2030 (Usd Million)
7.6.4.3 Brazil Ai in Fintech Market, by Application 2017 - 2030 (Usd Million)
7.7 Mea
7.7.1 MEA Ai in Fintech Market, by Components 2017 - 2030 (Usd Million)
7.7.2 MEA Ai in Fintech Market, by Deployment 2017 - 2030 (Usd Million)
7.7.3 MEA Ai in Fintech Market, by Application 2017 - 2030 (Usd Million)
Chapter 8. Competitive Landscape
8.1 Company Profiles
8.1.1 Microsoft
8.1.1.1 Company Overview
8.1.1.2 Product Benchmarking
8.1.1.3 Recent Developments
8.1.2 Google LLC
8.1.2.1 Company Overview
8.1.2.2 Product Benchmarking
8.1.2.3 Recent Developments
8.1.3 Salesforce, Inc.
8.1.3.1 Company Overview
8.1.3.2 Financial Performance
8.1.3.3 Product Benchmarking
8.1.3.4 Recent Developments
8.1.4 International Business Machines Corporation.
8.1.4.1 Company Overview
8.1.4.2 Product Benchmarking
8.1.4.3 Recent Developments
8.1.5 Amelia Us LLC
8.1.5.1 Company Overview
8.1.5.2 Product Benchmarking
8.1.6 Nuance Communications, Inc.
8.1.6.1 Company Overview
8.1.6.2 Product Benchmarking
8.1.6.3 Recent Developments
8.1.7 Complyadvantage.Com
8.1.7.1 Company Overview
8.1.7.2 Financial Performance
8.1.7.3 Product Benchmarking
8.1.7.4 Recent Developments
8.1.8 Narrative Science
8.1.8.1 Company Overview
8.1.8.2 Financial Performance
8.1.8.3 Product Benchmarking
8.1.8.4 Recent Developments
8.1.9 Affirm, Inc.
8.1.9.1 Company Overview
8.1.9.2 Financial Performance
8.1.9.3 Product Benchmarking
8.1.9.4 Recent Developments
8.1.10 Upstart Network, Inc. Instructure, Inc
8.1.10.1 Company Overview
8.1.10.2 Product Benchmarking
8.1.10.3 Recent Developments
8.1.11 Intel
8.1.11.1 Company Overview
8.1.11.2 Product Benchmarking
8.1.11.3 Recent Developments
List of Tables
Table 1 Global AI in Fintech market size estimates & forecasts 2017 - 2030 (USD Million)
Table 2 Global AI in Fintech market, by region 2017 - 2030 (USD Million)
Table 3 Global AI in Fintech market, by components 2017 - 2030 (USD Million)
Table 4 Global AI in Fintech market, by services 2017 - 2030 (USD Million)
Table 5 Global AI in Fintech market, by deployment 2017 - 2030 (USD Million)
Table 6 Global AI in Fintech market, by application 2017 - 2030 (USD Million)
Table 7 Key market driver impact
Table 8 Key market restraint/challenges impact
Table 9 Solution Tools AI in Fintech market, by region 2017 - 2030 (USD Million)
Table 10 Services AI in Fintech market, by region 2017 - 2030 (USD Million)
Table 11 Managed AI in Fintech market, by region 2017 - 2030 (USD Million)
Table 12 Professional AI in Fintech market, by region 2017 - 2030 (USD Million)
Table 13 Cloud AI in Fintech market, by region 2017 - 2030 (USD Million)
Table 14 On-Premise AI in Fintech market, by region 2017 - 2030 (USD Million)
Table 15 Virtual Assistant AI in Fintech market, by region 2017 - 2030 (USD Million)
Table 16 Business Analytics and Reporting AI in Fintech market, by region 2017 - 2030 (USD Million)
Table 17 Customer Behavioral Analytics AI in Fintech market, by region 2017 - 2030 (USD Million)
Table 18 Fraud Detection AI in Fintech market, by region 2017 - 2030 (USD Million)
Table 19 Quantitative and Asset Management AI in Fintech market, by region 2017 - 2030 (USD Million)
Table 20 Others AI in Fintech market, by region 2017 - 2030 (USD Million)
Table 21 North America AI in Fintech market, by components 2017 - 2030 (USD Million)
Table 22 North America AI in Fintech market, by deployment 2017 - 2030 (USD Million)
Table 23 North America AI in Fintech market, by application 2017 - 2030 (USD Million)
Table 24 U.S. AI in Fintech market, by components 2017 - 2030 (USD Million)
Table 25 U.S. AI in Fintech market, by deployment 2017 - 2030 (USD Million)
Table 26 U.S. AI in Fintech market, by application 2017 - 2030 (USD Million)
Table 27 Canada AI in Fintech market, by components 2017 - 2030 (USD Million)
Table 28 Canada AI in Fintech market, by deployment 2017 - 2030 (USD Million)
Table 29 Canada AI in Fintech market, by application 2017 - 2030 (USD Million)
Table 30 Mexico AI in Fintech market, by components 2017 - 2030 (USD Million)
Table 31 Mexico AI in Fintech market, by deployment 2017 - 2030 (USD Million)
Table 32 Mexico AI in Fintech market, by application 2017 - 2030 (USD Million)
Table 33 Europe AI in Fintech market, by components 2017 - 2030 (USD Million)
Table 34 Europe AI in Fintech market, by deployment 2017 - 2030 (USD Million)
Table 35 Europe AI in Fintech market, by application 2017 - 2030 (USD Million)
Table 36 U.K. AI in Fintech market, by Components 2017 - 2030 (USD Million)
Table 37 U.K. AI in Fintech market, by deployment 2017 - 2030 (USD Million)
Table 38 U.K. AI in Fintech market, by application 2017 - 2030 (USD Million)
Table 39 Germany AI in Fintech market, by components 2017 - 2030 (USD Million)
Table 40 Germany AI in Fintech market, by deployment 2017 - 2030 (USD Million)
Table 41 Germany AI in Fintech market, by application 2017 - 2030 (USD Million)
Table 42 France AI in Fintech market, by Components 2017 - 2030 (USD Million)
Table 43 France AI in Fintech market, by deployment 2017 - 2030 (USD Million)
Table 44 France AI in Fintech market, by application 2017 - 2030 (USD Million)
Table 45 Asia Pacific AI in Fintech market, by components 2017 - 2030 (USD Million)
Table 46 Asia Pacific AI in Fintech market, by deployment 2017 - 2030 (USD Million)
Table 47 Asia Pacific AI in Fintech market, by application 2017 - 2030 (USD Million)
Table 48 China AI in Fintech market, by components 2017 - 2030 (USD Million)
Table 49 China AI in Fintech market, by deployment 2017 - 2030 (USD Million)
Table 50 China AI in Fintech market, by application 2017 - 2030 (USD Million)
Table 51 India AI in Fintech market, by components 2017 - 2030 (USD Million)
Table 52 India AI in Fintech market, by deployment 2017 - 2030 (USD Million)
Table 53 India AI in Fintech market, by application 2017 - 2030 (USD Million)
Table 54 Singapore AI in Fintech market, by components 2017 - 2030 (USD Million)
Table 55 Singapore AI in Fintech market, by deployment 2017 - 2030 (USD Million)
Table 56 Singapore AI in Fintech market, by application 2017 - 2030 (USD Million)
Table 57 South America AI in Fintech market, by components 2017 - 2030 (USD Million)
Table 58 South America AI in Fintech market, by deployment 2017 - 2030 (USD Million)
Table 59 South America AI in Fintech market, by application 2017 - 2030 (USD Million)
Table 60 Brazil AI in Fintech market, by components 2017 - 2030 (USD Million)
Table 61 Brazil AI in Fintech market, by deployment 2017 - 2030 (USD Million)
Table 62 Brazil AI in Fintech market, by application 2017 - 2030 (USD Million)
Table 63 MEA AI in Fintech market, by components 2017 - 2030 (USD Million)
Table 64 MEA AI in Fintech market, by deployment 2017 - 2030 (USD Million)
Table 65 MEA AI in Fintech market, by application 2017 - 2030 (USD Million)List of Charts
Fig. 1 Market Segmentation
Fig. 2 Information Procurement
Fig. 3 Primary research pattern
Fig. 4 Primary research process
Fig. 5 Market formulation and data visualization
Fig. 6 Industry snapshot
Fig. 7 Value chain analysis
Fig. 8 Market dynamics
Fig. 9 COVID - 19 impact: Key takeaways
Fig. 10 Penetration & growth prospect mapping
Fig. 11 Industry analysis-Porter's
Fig. 12 Key company ranking analysis, 2021
Fig. 13 PEST Analysis
Fig. 14 Components movement analysis & market share 2021 & 2030 (USD Million)
Fig. 15 Deployment movement analysis & market share 2021 & 2030 (USD Million)
Fig. 16 Application movement analysis & market share 2021 & 2030 (USD Million)
Fig. 17 Regional market size estimates & forecasts 2021 & 2030 (USD Billion)
Fig. 18 North America AI in Fintech market by country 2021 & 2030 (USD Million)
Fig. 19 Europe AI in Fintech market by country 2021 & 2030 (USD Million)
Fig. 20 Asia Pacific AI in Fintech market by country 2021 & 2030 (USD Million)
Fig. 21 South America AI in Fintech market by country 2021 & 2030 (USD Million)
Fig. 22 MEA AI in Fintech market by country 2021 & 2030 (USD Million)
Companies Mentioned
- Microsoft
- Google Llc
- Salesforce, inc.
- International Business Machines Corporation.
- Amelia Us Llc
- Nuance Communications, inc.
- Complyadvantage.Com
- Narrative Science
- Affirm, inc.
- Upstart Network, inc.
- Instructure, inc
- Intel
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 100 |
| Published | May 2022 |
| Forecast Period | 2021 - 2030 |
| Estimated Market Value in 2021 | 9.45 Billion |
| Forecasted Market Value by 2030 | 41.16 Billion |
| Compound Annual Growth Rate | 16.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
