AI in Fintech Market Report Scope & Overview:

The AI in Fintech Market Size was valued at USD 11.89 Billion in 2023 and is expected to reach USD 41.5 Billion by 2031 and grow at a CAGR of 17.05 % over the forecast period 2024-2031.

The growing need for process automation in financial institutions is driving market expansion. Cognitive process automation is also enhancing AI capabilities to handle increasingly complex automation tasks. The widespread adoption of AI and machine learning in fintech has rapidly made them integral to financial services. This includes mobile banking, digital loans, insurance, credit scoring, transactions, and asset management. By analyzing customer interactions and transactions, AI technology can accurately predict typical behavior patterns. The market is being driven by factors such as increasing internet penetration and the availability of geographical data.

AI in Fintech Market Revenue Analysis

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Market Dynamics


  • The Increasing need for process automation in financial institutions is driving the AI in Fintech market.

  • The growing number of significant market partnerships has resulted in a rise in financing for the growth and development of advanced and automated technology to combat fraudulent activities.

  • The rising integration of artificial intelligence and machine learning technologies in the Finance Sector.

The AI in the Fintech market is Driven by a significant increase in the demand for process automation within financial institutions. Organizations are actively Looking for ways to streamline their operations and Reduce the Dependance on manual tasks. AI technologies present viable solutions for automating a range of processes, from transaction management to risk evaluation. By using automation, Organizations can not only improve operational efficiency but also reduce errors and expedite decision-making procedures. This drive to optimize workflows and maintain competitiveness in a changing financial environment is a primary factor behind the adoption of AI in Fintech.


  • The Stringent regulations governing data privacy, consumer protection, and financial transactions pose challenges for Fintech firms implementing AI solutions.

  • The collection and utilization of vast amounts of sensitive financial data raise concerns regarding privacy and security breaches.

  • Integrating AI technologies with existing legacy systems and infrastructure can be complex and time-consuming,


  • AI enables Fintech companies to reach untapped markets and underserved demographics by offering innovative and tailored financial products and services.

  • Collaborating with traditional financial institutions, technology companies, and regulatory bodies presents opportunities for Fintech firms to leverage expertise.

  • AI facilitates the development of novel financial solutions such as robo-advisors, peer-to-peer lending platforms.


  • There is a shortage of skilled professionals with expertise in AI, machine learning, and data science.

  • AI-powered systems are vulnerable to cyber-attacks, malware, and hacking attempts.

Impact of Russia-Ukraine War:

The ongoing crisis between Russia and Ukraine has reverberated across various sectors, including the AI in FinTech. Economic sanctions and geopolitical strains have introduced disruptions into global financial markets, affecting businesses with interests in the Russian market. In response to political instability, there may be a shift towards cryptocurrencies and associated services as confidence in traditional currencies falters. the crisis has Increases concerns about a potential exodus of tech talent from Russia and Growing the threat of cyber-attacks, posing additional challenges for FinTech enterprises navigating this complex landscape.

Impact of Economic Downturn:

The global fintech sector has been significantly impacted by the economic slowdown, leading to a decrease in venture capital funding for fintech startups. This decline, which began in the latter half of 2022, reflects broader economic uncertainties. Despite this setback, there has been a modest uptick in funding values in 2023, primarily attributed to a handful of substantial deals. The overall reduction in fintech funding could potentially affect the trajectory of the AI in fintech market, given its reliance on venture capital for advancement and innovation.  During the economic slowdown presents challenges for the fintech and AI in fintech sectors, long-term growth prospects remain favorable, driven by ongoing digital transformations in financial services and the perpetual need for innovation in this dynamic industry.

Market Segmentation

By Component:

  • Solutions

    • Software Tools

    • Platforms

  • Service

    • Managed

    • Professional

By Deployment Mode:

  • Cloud

  • On-premises

By Application

  • Virtual Assistant (Chatbots)

  • Business Analytics and Reporting

  • Customer Behavioural Analytic

  • Others

The business analytics and reporting segment dominates the AI in Fintech market On the basis of application, with a revenue share More than 30%. Its dominance stems from the ability of sophisticated systems to handle large volumes of financial data swiftly and accurately, facilitating precise analysis and reporting. Moreover, these systems are adept at recognizing patterns and trends within financial markets, which in turn supports informed decision-making for businesses. Integrating analytics and reporting functionalities not only enhances operational efficiency and accuracy but also provides valuable strategic insights, establishing it as a fundamental component of Fintech operations.

AI in Fintech Market By Application

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Regional Analysis

North America dominates the artificial intelligence (AI) governance market with a holding share of more than 38%, The considerable investment in research and development, and the presence of major businesses in the region are all factors contributing to the region's prosperity. one of the major drivers is growing digitization in increasing Digital payments in the region.

Because of the rapid acceptance of digital payment and Increasing prevalence of internet services in the area, the Asia Pacific region in the AI in fintech market is Expected to develop at the fastest CAGR during the forecast period. The government measures that assist AI growth in the fintech business give sufficient opportunities. the application of AI in the banking sector in the Asia Pacific region dominates the market.

AI in Fintech Market By Region


North America

  • US

  • Canada

  • Mexico


  • Eastern Europe

    • Poland

    • Romania

    • Hungary

    • Turkey

    • Rest of Eastern Europe

  • Western Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Netherlands

    • Switzerland

    • Austria

    • Rest of Western Europe

Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Vietnam

  • Singapore

  • Australia

  • Rest of Asia Pacific

Middle East & Africa

  • Middle East

    • UAE

    • Egypt

    • Saudi Arabia

    • Qatar

    • Rest of the Middle East

  • Africa

    • Nigeria

    • South Africa

    • Rest of Africa

Latin America

  • Brazil

  • Argentina

  • Colombia

  • Rest of Latin America


The major players in AI in Fintech is Microsoft (Washington, US), Google (California, US), (California, US), IBM (New York, US), Intel (California, US), Amazon Web Services (Washington, US), Inbenta Technologies (California, US), IPsoft (New York, US), Nuance Communications (Massachusetts, US), and (New York, US) & Other Players

Microsoft - Company Financial Analysis

Company Landscape Analysis

Recent Development:

  • In April 2022, Gupshup, a leading conversational messaging platform, made headlines with the acquisition of Active.Ai, a private finance firm known for its expertise in artificial intelligence. This strategic move significantly enhances Gupshup's Customer Experience (CX) solutions for clients in the Banking, Financial Services, and Insurance (BFSI) sector.

  • In May 2020, Sentifi AG announced the launch of an enhanced alternative data-based analytics platform designed to identify investment opportunities and mitigate risks. This new analytics solution from Sentifi includes the detection of sector and industry outliers, ESG events that could impact asset valuation, and real-time trending investment themes. Investors now can identify outliers within their portfolios, providing them with valuable insights for making informed decisions.

AI in Fintech Market Report Scope:
Report Attributes Details
Market Size in 2023  US$ 13.23 Bn
Market Size by 2031  US$ 222.49 Bn
CAGR   CAGR of 42.3% From 2024 to 2031
Base Year  2023
Forecast Period  2024-2031
Historical Data  2020-2022
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Component (Solutions, Services)
• By Deployment Mode (Cloud, On-premises)
• By Application (Virtual Assistant (Chatbots), Business Analytics and Reporting, Customer Behavioral Analytic, Others)
Regional Analysis/Coverage North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America)
Company Profiles Microsoft, Google,, IBM, Intel , Amazon Web Services, Inbenta Technologies, IPsoft, Nuance Communications, and
Key Drivers • The rising integration of artificial intelligence and machine learning technologies will assist the market even more.
Market Opportunities • The growing requirement to protect businesses' networks from unwanted and unprecedented attacks, as well as increased utilization of services due to smooth scalability, will drive the market's future growth.

Frequently Asked Questions

Ans. The Compound Annual Growth rate for the AI in Fintech Market over the forecast period is 17.05%.

Ans. The projected market size for the AI in Fintech Market is USD 41.5 billion by 2031

Ans: North America region dominated the AI in Fintech Market.

Ans: The key players of AI in the Fintech Market are Microsoft, Google,, IBM, Intel, Amazon Web Services, Inbenta Technologies, IPsoft, Nuance Communications, and

Ans: The AI in Fintech Market is segmented into 3 types: By Component, By Deployment Mode, and By Application.


1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Industry Flowchart

3. Research Methodology

4. Market Dynamics

4.1 Drivers

4.2 Restraints

4.3 Opportunities

4.4 Challenges

5. Impact Analysis

5.1 Impact of Russia-Ukraine Crisis

5.2 Impact of Economic Slowdown on Major Countries

5.2.1 Introduction

5.2.2 United States

5.2.3 Canada

5.2.4 Germany

5.2.5 France

5.2.6 UK

5.2.7 China

5.2.8 Japan

5.2.9 South Korea

5.2.10 India

6. Value Chain Analysis

7. Porter’s 5 Forces Model

8.  Pest Analysis

9. AI in Fintech Market Segmentation, By Component

9.1 Introduction

9.2 Trend Analysis

9.3 Solutions

9.3.1 Software Tools

9.3.2 Platforms

9.4 Service

9.4.1 Managed

9.4.2 Professional

10. AI in Fintech Market Segmentation, By Deployment Mode

10.1 Introduction

10.2 Trend Analysis

10.3 Cloud

10.4 On-premises

11. AI in Fintech Market Segmentation, By Application

11.1 Introduction

11.2 Trend Analysis

11.3 Virtual Assistant (Chatbots)

11.4 Business Analytics and Reporting

11.5 Customer Behavioural Analytic

11.6 Others 

12. Regional Analysis

12.1 Introduction

12.2 North America

12.2.1 USA

12.2.2 Canada

12.2.3 Mexico

12.3 Europe

12.3.1 Eastern Europe Poland Romania Hungary Turkey Rest of Eastern Europe

12.3.2 Western Europe Germany France UK Italy Spain Netherlands Switzerland Austria Rest of Western Europe

12.4 Asia-Pacific

12.4.1 China

12.4.2 India

12.4.3 Japan

12.4.4 South Korea

12.4.5 Vietnam

12.4.6 Singapore

12.4.7 Australia

12.4.8 Rest of Asia Pacific

12.5 The Middle East & Africa

12.5.1 Middle East UAE Egypt Saudi Arabia Qatar Rest of the Middle East

11.5.2 Africa Nigeria South Africa Rest of Africa

12.6 Latin America

12.6.1 Brazil

12.6.2 Argentina

12.6.3 Colombia

12.6.4 Rest of Latin America

13. Company Profiles

13.1 Microsoft.

13.1.1 Company Overview

13.1.2 Financial

13.1.3 Products/ Services Offered

13.1.4 SWOT Analysis

13.1.5 The SNS View

13.2 . Google.

13.2.1 Company Overview

13.2.2 Financial

13.2.3 Products/ Services Offered

13.2.4 SWOT Analysis

13.2.5 The SNS View


13.3.1 Company Overview

13.3.2 Financial

13.3.3 Products/ Services Offered

13.3.4 SWOT Analysis

13.3.5 The SNS View

13.4 IBM.

13.4.1 Company Overview

13.4.2 Financial

13.4.3 Products/ Services Offered

13.4.4 SWOT Analysis

13.4.5 The SNS View

13.5 Intel.

13.5.1 Company Overview

13.5.2 Financial

13.5.3 Products/ Services Offered

13.5.4 SWOT Analysis

13.5.5 The SNS View

13.6 Amazon Web Services.

13.6.1 Company Overview

13.6.2 Financial

13.6.3 Products/ Services Offered

13.6.4 SWOT Analysis

13.6.5 The SNS View

13.7 Inbenta Technologies

13.7.1 Company Overview

13.7.2 Financial

13.7.3 Products/ Services Offered

13.7.4 SWOT Analysis

13.7.5 The SNS View

13.8 IPsoft

13.8.1 Company Overview

13.8.2 Financial

13.8.3 Products/ Services Offered

13.8.4 SWOT Analysis

13.8.5 The SNS View

13.9 Nuance Communications

13.9.1 Company Overview

13.9.2 Financial

13.9.3 Products/ Services Offered

13.9.4 SWOT Analysis

13.9.5 The SNS View


13.10.1 Company Overview

13.10.2 Financial

13.10.3 Products/ Services Offered

13.10.4 SWOT Analysis

13.10.5 The SNS View

14. Competitive Landscape

14.1 Competitive Benchmarking

14.2 Market Share Analysis

14.3 Recent Developments

14.3.1 Industry News

14.3.2 Company News

14.3.3 Mergers & Acquisitions

15. Use Case and Best Practices

16. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

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Data Bank Validation

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