AI in Fintech Market Introduction and Overview
According to SPER Market Research, the Global AI in Fintech Market is estimated to reach USD 92.30 billion by 2033 with a CAGR of 22.71%.
The report includes an in-depth analysis of the Global AI in Fintech Market, including market size and trends, product mix, distribution channels, and supplier analysis. Fintech, also known as financial technology, is the integration of cutting-edge technologies like artificial intelligence with financial services to assist defend against fraudulent activities. This is obvious from the word alone. Artificial intelligence's function in fintech is to make it easier for robo-advisors to function and offer financial planning services.
- February 2023: Baiduri Bank in Brunei has partnered with Singaporean SaaS fintech Finbots.ai to implement AI-driven credit risk management. Finbots.ai's creditX solution will enable Baiduri Bank to create and implement credit scorecards more quickly and affordably, reducing risk, improving efficiency, and accelerating financial inclusion efforts.
- February 2023: Scotiabank has launched Scotia Smart Investor, a tool that offers customers enhanced control over their assets. This AI-powered tool, introduced through assistance+, helps users with financial goal planning and management.
Market Opportunities and Challenges
- Opportunities: Cloud based firewalls to present many opportunities: Growth in market value is fuelled by increasing urbanisation, modernization, and globalisation. In other words, as small and medium-sized businesses, particularly those in emerging nations, become more aware of the advantages of cloud-based firewalls, more chances will arise for the industry to expand.
- Challenges: Increased number of regulations to limit the scope of growth in the long run: A growing number of regulatory compliance requirements combined with a lack of technological know-how will obstruct business expansion. Additionally, a lack of qualified consultants will limit the market's potential for growth in terms of artificial intelligence development. Additionally, the halt of company operations due to the coronavirus epidemic will again cause obstacles.
Market Competitive Landscape
The market exhibits a moderate level of fragmentation, with several major players, including Affirm, Inc., Amazon Web Services, Amelia U.S. LLC, ComplyAdvantage.com, Google LLC, Inbenta Technologies, Instructure, Inc., Intel, International Business Machines Corp., Microsoft, Narrative Science, Nuance Communications, Inc., Oracle, Salesforce, Inc., Upstart Network, Inc., Others. The spread of AI in the fintech industry is hampered by the financial sector's intense competition, the need for improved financial processes, cost savings, and client engagement. These traits explain the risk of performance underperformance in a cutthroat business environment, demanding AI in fintech solutions. Market players have formed alliances and partnerships recently to take on key positions.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Components, By Deployment, By Application
|
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
|
| Companies Covered | Affirm, Inc., Amazon Web Services, Amelia U.S. LLC, ComplyAdvantage.com, Google LLC, Inbenta Technologies, Instructure, Inc., Intel, International Business Machines Corp., Microsoft, Narrative Science, Nuance Communications, Inc., Oracle, Salesforce, Inc., Upstart Network, Inc., Others
|
COVID-19 Impact on Global AI in Fintech Market
The market has grown during the pandemic due to the adoption of artificial intelligence (AI) by a number of industries, including banks and financial institutions. The COVID-19 has significantly sped up the adoption of digital payment options by the general public. During the epidemic, customers also desired new payment methods that were simple, automatic, and well-liked, as well as efficient and improved user experiences.
Key Target Audience
- Analytics and Business Intelligence Providers
- Consulting Firms
- Consumers
- Credit Reporting Agencies
- Cybersecurity Companies
- Developers and Data Scientists
- E-commerce Companies
- Financial Institutions
- Fintech Startups
- Insurance Companies
- Others
Our in-depth analysis of the AI in Fintech Market includes the following segments:
|
By Components:
|
Services
Managed
Professional
Solutions
|
|
By Deployment:
|
Cloud
On-premise
|
|
By Application:
|
Business Analytics and Reporting
Customer Behavioural Analytics
Fraud Detection
Quantitative and Asset Management
Virtual Assistant (Chatbots)
Others
|
Key Topics Covered in the Report
- Global AI in Fintech Market Size (FY’2023-FY’2033)
- Overview of Global AI in Fintech Market
- Segmentation of Global AI in Fintech Market By Components (Services, Solutions)
- Segmentation of Global AI in Fintech Market By Deployment (Cloud, On-premise)
- Segmentation of Global AI in Fintech Market By Application (Business Analytics and Reporting, Customer Behavioural Analytics, Fraud Detection, Quantitative and Asset Management, Virtual Assistant, Others)
- Statistical Snap of Global AI in Fintech Market
- Expansion Analysis of Global AI in Fintech Market
- Problems and Obstacles in Global AI in Fintech Market
- Competitive Landscape in the Global AI in Fintech Market
- Impact of COVID-19 and Demonetization on Global AI in Fintech Market
- Details on Current Investment in Global AI in Fintech Market
- Competitive Analysis of Global AI in Fintech Market
- Prominent Players in the Global AI in Fintech Market
- SWOT Analysis of Global AI in Fintech Market
- Global AI in Fintech Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global AI in Fintech Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global AI in Fintech Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global AI in Fintech Market
7. Global AI in Fintech Market, By Components (USD Million)
7.1. Global AI in Fintech Market Value Share and Forecast, By Components, 2023-2033
7.2. Services
7.2.1. Managed
7.2.2. Professional
7.3. Solutions
8. Global AI in Fintech Market, By Deployment (USD Million)
8.1. Global AI in Fintech Market Value Share and Forecast, By Deployment, 2023-2033
8.2. Cloud
8.3. On-premise
9. Global AI in Fintech Market, By Application (USD Million)
9.1. Global AI in Fintech Market Value Share and Forecast, By Application, 2023-2033
9.2. Business Analytics and Reporting
9.3. Customer Behavioural Analytics
9.4. Fraud Detection
9.5. Quantitative and Asset Management
9.6. Virtual Assistant (Chatbots)
9.7. Others
10. Global AI in Fintech Market Forecast, 2019-2033 (USD Million)
10.1. Global AI in Fintech Market Size and Market Share
11. Global AI in Fintech Market, By Components, 2019-2033 (USD Million)
11.1. Global AI in Fintech Market Size and Market Share By Components (2019-2026)
11.2. Global AI in Fintech Market Size and Market Share By Components (2027-2033)
12. Global AI in Fintech Market, By Deployment, 2019-2033 (USD Million)
12.1. Global AI in Fintech Market Size and Market Share By Deployment (2019-2026)
12.2. Global AI in Fintech Market Size and Market Share By Deployment (2027-2033)
13. Global AI in Fintech Market, By Application, 2019-2033 (USD Million)
13.1. Global AI in Fintech Market Size and Market Share By Application (2019-2026)
13.2. Global AI in Fintech Market Size and Market Share By Application (2027-2033)
14. Global AI in Fintech Market, By Region, 2019-2033 (USD Million)
14.1. Global AI in Fintech Market Size and Market Share By Region (2019-2026)
14.2. Global AI in Fintech Market Size and Market Share By Region (2027-2033)
14.3. Asia-Pacific
14.3.1. Australia
14.3.2. China
14.3.3. India
14.3.4. Japan
14.3.5. South Korea
14.3.6. Rest of Asia-Pacific
14.4. Europe
14.4.1. France
14.4.2. Germany
14.4.3. Italy
14.4.4. Spain
14.4.5. United Kingdom
14.4.6. Rest of Europe
14.5. Middle East and Africa
14.5.1. Kingdom of Saudi Arabia
14.5.2. United Arab Emirates
14.5.3. Rest of Middle East & Africa
14.6. North America
14.6.1. Canada
14.6.2. Mexico
14.6.3. United States
14.7. Latin America
14.7.1. Argentina
14.7.2. Brazil
14.7.3. Rest of Latin America
15. Company Profile
15.1. Affirm, Inc.
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Product summary
15.1.4. Recent developments
15.2. Amazon Web Services
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Product summary
15.2.4. Recent developments
15.3. Amelia U.S. LLC
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Product summary
15.3.4. Recent developments
15.4. ComplyAdvantage.com
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Product summary
15.4.4. Recent developments
15.5. Google LLC
15.5.1. Company details
15.5.2. Financial outlook
15.5.3. Product summary
15.5.4. Recent developments
15.6. Inbenta Technologies
15.6.1. Company details
15.6.2. Financial outlook
15.6.3. Product summary
15.6.4. Recent developments
15.7. Instructure, Inc.
15.7.1. Company details
15.7.2. Financial outlook
15.7.3. Product summary
15.7.4. Recent developments
15.8. Intel
15.8.1. Company details
15.8.2. Financial outlook
15.8.3. Product summary
15.8.4. Recent developments
15.9. International Business Machines Corp.
15.9.1. Company details
15.9.2. Financial outlook
15.9.3. Product summary
15.9.4. Recent developments
15.10. Microsoft
15.10.1. Company details
15.10.2. Financial outlook
15.10.3. Product summary
15.10.4. Recent developments
15.11. Narrative Science
15.11.1. Company details
15.11.2. Financial outlook
15.11.3. Product summary
15.11.4. Recent developments
15.12. Nuance Communications, Inc.
15.12.1. Company details
15.12.2. Financial outlook
15.12.3. Product summary
15.12.4. Recent developments
15.13. Oracle
15.13.1. Company details
15.13.2. Financial outlook
15.13.3. Product summary
15.13.4. Recent developments
15.14. Salesforce, Inc.
15.14.1. Company details
15.14.2. Financial outlook
15.14.3. Product summary
15.14.4. Recent developments
15.15. Upstart Network, Inc
15.15.1. Company details
15.15.2. Financial outlook
15.15.3. Product summary
15.15.4. Recent developments
15.16. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
