According to the latest report by IMARC Group, titled “AI in Fintech Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the [URL=https://www.imarcgroup.com/ai-in-fintech-market]AI in Fintech Market Report[/URL] to grow at a CAGR of XX% during 2021-2026.Fintech, or financial technology, represents the integration of advanced technologies with financial services to improve or automate banking and investing operations. Artificial intelligence (AI) is extensively used in financial institutions for detecting and preventing frauds through digital banking channels. This involves digital lending, mobile banking, asset management, credit scoring, insurance and trading processes, etc. AI in fintech is also applied for operating robo-advisors to offer financial planning services based on the individuals’ goals, risk tolerance, budget, financial standing, spending patterns, etc. It also detects any personally identifiable information (PII) leaked on the dark web and undertakes necessary actions to secure the data.
Global AI in Fintech Market Trends:
The rising digitization in the banking, financial services, and insurance (BFSI) sector is among the primary factors driving the market for AI in fintech. Moreover, AI in fintech enhances efficiency, minimizes human error, and can process large volumes of data in a short period. Consequently, it is being increasingly used for operating virtual assistance, sentiment and predictive analysis, debt collection, reporting, customer behavior analysis, etc. Furthermore, growing product utilization for the automated and real-time examination of cash, credit, and investment accounts to analyze the financial health of individuals and generate customized insights for future growth will continue to strengthen the AI in fintech market over the forecasted period.
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Global AI in Fintech Market 2021-2026 Analysis and Segmentation:
Competitive Landscape:
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.
The report has segmented the market on the basis on region, disc type, material type and end user.
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
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