The Artificial Intelligence in Fintech Market

Fintech, or financial technology, described as an integration of advanced technologies with financial services to improve or automate banking and investing functioning. Artificial intelligence (AI) is broadly used in financial institutions for identifying and preventing frauds through digital banking channels. It includes digital lending, mobile banking, credit scoring, asset management, insurance and trading processes. AI in fintech is also used for operating robo-advisors to offer financial planning services based upon the financial standing, goals, risk tolerance, budget and spending patterns of the individuals. The swift digitization of the banking, financial services and insurance (BFSI) industry across the world is one of the major factors propelling the growth of the market. AI in fintech is significantly used for operating debt collection, virtual assistance, sentiment and predictive analysis, reporting and customer behavior analysis. It improves efficiency, reduces the possibility of human error and can process huge amount of data in a short period. In line with this, AI also helps in the automated and real-time evaluation of cash, credit and investment accounts for analyzing the financial condition of the individual and generating personalized insights for future growth. In addition, several technological advancements, which include the incorporation of fintech solutions with machine learning (ML), neural network, big data and evolutionary algorithms, are also contributing in the growth of the artificial intelligence in fintech market. These technologies offer improved monitoring of financial transactions, speech recognition, risk management and safe network access to the banking institutions. Few other factors, including the rising usage of smart contracts for financial processes, coupled with major improvements in the information technology (IT) infrastructure, are projected to boost the artificial intelligence in fintech market towards growth. On the other hand, the dearth of skilled consultants to deploy artificial intelligence in fintech will majorly restrain the market growth.

Furthermore, the rising availability of data sources is propelling the market. As the fintech industry continues to innovate and develop at a rapid pace, fintech firms and startups have widened their horizons to serve to a wide range of segments. The financial sector extended its footprint among areas, such as consumer and business loans, personal financial management, personal banking, investments, financial advisory, and various other data sources. Moreover, the rising mobile workforce will increase further innovation in the fintech market which will create enormous opportunities for the market.

The global Artificial Intelligence (AI) in Fintech Market is segregated on the basis of Component as Solutions and Services. Based on Deployment Mode the global Artificial Intelligence (AI) in Fintech Market is segmented in Cloud and On-premises. Based on Application Area the global Artificial Intelligence (AI) in Fintech Market is segmented in Virtual Assistant (Chatbots), Business Analytics and Reporting, Customer Behavioral Analytics and Others.

The global Artificial Intelligence (AI) in Fintech Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Artificial Intelligence (AI) in Fintech Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.

Competitive Analysis

IBM Corporation, Intel Corporation, ComplyAdvantage.com, Narrative Science, Amazon Web Services Inc. and others are among the major players in the global Artificial Intelligence (AI) in Fintech Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.

• In April 2020, Fenergo, the provider of customer journey, digital transformation and client lifecycle management (CLM) solutions for financial institutions and IBM signed an original equipment manufacturing (OEM) agreement which may enable companies to collaborate on solutions which can help clients address the number of financial risks they face.​
• In May 2020, Sentifi AG declared the extended substitute data-based analytics to surface investment opportunities and handle risks. Sentifi’s new analytics solution consists of detection of the sector, industry outliers, ESG events with potential asset valuation impact and investment themes trending real-time while providing investors the capability to identify outliers within their portfolios. Investors can assess portfolio sentiment performance to the custom benchmark and swiftly identify major market events and impacted sectors, industries and assets.

The global Artificial Intelligence (AI) in Fintech Market has been segmented as below:

Artificial Intelligence (AI) in Fintech Market, By Component

• Solutions
• Services

Artificial Intelligence (AI) in Fintech Market, By Deployment Mode

• Cloud
• On-premises

Artificial Intelligence (AI) in Fintech Market, By Application Area

• Virtual Assistant (Chatbots)
• Business Analytics and Reporting
• Customer Behavioral Analytics
• Others

Artificial Intelligence (AI) in Fintech Market, By Region

• Europe
• North America
• Asia Pacific
• Rest of The World

Artificial Intelligence (AI) in Fintech Market, By Company

• IBM Corporation
• Intel Corporation
• ComplyAdvantage.com
• Narrative Science
• Amazon Web Services Inc.
• IPsoft Inc.
• Next IT Corporation
• Microsoft Corporation
• Onfido
• Ripple Labs Inc.
• Active.ai
• TIBCO Software (Alpine Data Labs)
• Trifacta Software Inc.
• Data Minr Inc.
• Zeitgold GmbH

The report covers the below scope:

• Global Artificial Intelligence (AI) in Fintech Market sizes from 2020 to 2026, along with CAGR for 2020-2026
• Market size comparison for 2019 vs 2026, with actual data for 2019, estimates for 2019 and forecast from 2020 to 2026
• Global Artificial Intelligence (AI) in Fintech Market trends, covering comprehensive range of consumer trends & manufacturer trends
• Value chain analysis covering participants from raw material suppliers to the downstream buyer in the global Artificial Intelligence (AI) in Fintech Market
• Major market opportunities and challenges in forecast timeframe to be focused
• Competitive landscape with analysis on competition pattern, portfolio comparisons, development trends and strategic management
• Comprehensive company profiles of the key industry players

The years considered for the study are as follows:

• Base year - 2019
• Estimated year - 2019
• Projected year - 2020
• Forecast period - 2021 to 2026

Report Scope:

The global Artificial Intelligence (AI) in Fintech Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Artificial Intelligence (AI) in Fintech Market share. Major industry players with significant revenue share include IBM Corporation, Intel Corporation, ComplyAdvantage.com, Narrative Science, Amazon Web Services Inc. and others.

Why to Buy this Report:

• Gain detailed insights on the Artificial Intelligence (AI) in Fintech industry trends
• Find complete analysis on the market status
• Identify the Artificial Intelligence (AI) in Fintech Market opportunities and growth segments
• Analyse competitive dynamics by evaluating business segments & product portfolios
• Facilitate strategy planning and industry dynamics to enhance decision making

Target Audience:

• The report targeted towards the existing players in the industry is as follows:
• Market Manufacturers/Service Providers
• Market Wholesale/Traders
• Investment and Financial Institutions

Free and Paid Customization based on the requirement

1.      Introduction

1.1.       Key Points

1.2.      Report Description

1.3.      Markets Covered

1.4.      Stakeholders

2.     Research Methodology

2.1.      Research Scope

2.2.     Research Methodology

2.2.1.     Market Research Process

2.2.2.    Research Methodology

2.2.2.1.           Secondary Research

2.2.2.2.          Primary Research

2.2.2.3.          Models for Estimation

2.3.     Market Size Estimation

2.3.1.     Bottom-Up Approach

2.3.2.    Top-Down Approach

3.     Executive Summary

4.    Market Overview

4.1.      Introduction

4.2.     Drivers

4.3.     Restraints

4.4.     Opportunities

4.5.     Challenges

5.     Artificial Intelligence (AI) in Fintech Market, By Component

5.1.      Key Points

5.2.  Solutions

5.3.  Services

6.    Artificial Intelligence (AI) in Fintech Market, By Deployment Mode

6.1.      Key Points

6.2. Cloud

6.3. On-premises

7.     Artificial Intelligence (AI) in Fintech Market, By Application Area

7.1.      Key Points

7.2.  Virtual Assistant (Chatbots)

7.3.  Business Analytics and Reporting

7.4.  Customer Behavioral Analytics

7.5.  Others

8.    Competitive Landscape

8.1.      Introduction

8.2.     Start-up companies- Artificial Intelligence (AI) in Fintech Market

8.3.     Recent Developments

8.3.1.     Mergers & Acquisitions

8.3.2.    New Product Developments

8.3.3.    Portfolio/Production Capacity Expansions

8.3.4.    Joint Ventures, Collaborations, Partnerships & Agreements

8.3.5.    Others

9.    Company Profile

9.1.  IBM Corporation

9.2. Intel Corporation

9.3. ComplyAdvantage.com

9.4. Narrative Science

9.5.  Amazon Web Services Inc.

9.6. IPsoft Inc.

9.7.  Next IT Corporation

9.8. Microsoft Corporation

9.9. Onfido

9.10.    Ripple Labs Inc.

9.11.      Active.ai

9.12.    TIBCO Software (Alpine Data Labs)

9.13.     Trifacta Software Inc.

9.14.    Data Minr Inc.

9.15.     Zeitgold GmbH