In-Depth Analysis of AI in Fintech Market 2020 | Report Covers Top Key Players, Regions, Supply and Consumption, Forecast till 2024
The Key purpose of “AI in Fintech Market” report is to deliver key market trends, the scope of report, competitive landscape and industry overview with key players. AI in Fintech market report is designed by a detailed investigation process to collect all the necessary data. Further, the report studies the revenue generated from the market analysis and opportunity analysis to estimate the market size.
Get a Sample Copy of the Report – https://www.industryresearch.co/enquiry/request-sample/14245721
AI in Fintech Market Covers Key Players:
The AI in Fintech Market Report Includes:
- The AI in Fintech market report covers the present status and future prospects.
- The report analyses market trends, size, and forecast in different geographically.
- The report provides market competition overview among the Top companies.
- The report provides a complete analysis of the current and emerging market trends and opportunities.
For More Information or Query or Customization Before Buying, Visit at – https://www.industryresearch.co/enquiry/pre-order-enquiry/14245721
Scope of the Report:
Key Market Trends:
Fraud Detection Segment is Expected to Have A Significant Growth
Fraud prevention and detection represent the most significant area of concern, for the financial institutions. This segment is likely to become one of the prominent drivers of IT expenditure. Thus, AI capable of avoiding these frauds is expected to experience increased adoption in Fintechs. Fraudulent activities in the industry have evolved, over the decades. Earlier, frauds were limited to cheque frauds and wire frauds. However, with the growth of the cybersphere and the accompanying expansion of the cybercriminal realm, fraud has taken on more virtualized forms.
Owing to rising technological penetration and digital channels (such as internet banking and mobile banking) becoming the prominent choices of customers for banking services, there is a greater need for banks to leverage fraud prevention solutions.
– NetGuardians, a Switzerland based Fintech company established in 2007, developed an augmented intelligence solution. It has been made especially for the banks to proactively prevent fraud and empower their clients with ML technology together with contextual information and excellent user experience.The company claimed that banks using this solution were able to achieve 83% reduction in false positives and save 93% of the time lost in fraud investigation.
– Fraud detection and management are imperative for financial institutions, now more than ever, as firms are faced with new and more sophisticated threats to client data, in addition to security breaches. Financial organizations could face fines of more than USD 1 billion, if they fail to meet government standards against money laundering, GDPR regulations, and other financial crimes.
– For instance, HSBC paid a fine for not being compliant with AML laws. The company was fined USD 1.9 billion for its failure to control money laundering. Hence, the company implemented Ayasdi’s solutions that provide anti-fraud solutions to banks. Using Ayasdi’s AML solution, HSBC found a reduction of 20% in false positives, without reducing the number of cases reported for suspicious activities.
– The alignment to anti-fraud standards has led to a drastic increase in anti-fraud efforts by financial companies, many of which have proven to be time consuming and expensive. In addition, with the rise of AI-based fintech solutions, banks now have the opportunity to fight against fraud more effectively, effortlessly, and at a fraction of the cost.
North America Region is Expected to Have Largest Market Share
North America is regarded as the most competitive and rapidly developing AI technology market, in the finance industry. North America, among all the regions, has registered the maximum adoption of AI in Fintech solutions, due to its early implementation in a majority of application areas.
The presence of financial service firms in the region is quite high. From 2011, until the third quarter of 2017, more than 3,330 new technology-based firms serving the financial services industry have been founded, around 40% of which are focused on banking and capital markets, as reported by the Treasury Department. These firms are grappling with unprecedented opportunities and challenges in digital finance, due to changing customer expectations, emerging new technologies, and fluctuating regulations.
– According to the World Payments Report published by World Bank, this region has one of the highest penetration, in terms of citizens’ bank accounts, and has the highest concentration of ATMs per 100,000 people.
– Furthermore, slackening of federal regulations, enacting national data breach protections and drafting model laws at the state level to reduce overlapping red tape, could help promote fintech companies in the United States, according to the report released by the US Treasury Department, in 2017.
– Additionally, there is an increased attention from lawmakers, to promote innovation among non-bank providers of new payments and payment-related technologies, and garner more consumer concern about online data security. These factors are expected to contribute toward the growth of the market studied in the region.
Purchase this Report (Price 4250 USD for Single User License) – https://www.industryresearch.co/purchase/14245721
Important Questions Answered in The AI in Fintech Market Report:
- What is the main factor that takes this market to the next level?
- What will the market demand and what will be growth?
- What are the latest opportunities for the AI in Fintech Market in the future?
- What are the strengths of the main players?
- What is the key to the AI in Fintech Market?
Detailed TOC of AI in Fintech Market Report 2020-2024:
1.1 Study Deliverables
1.2 Scope Of The Study
1.3 Study Assumptions
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Dynamics
4.3 Market Drivers
4.3.1 Increasing Demand For Process Automation Among Financial Organizations
4.3.2 Increasing Availability Of Data Sources
4.4 Market Restraints
4.4.1 Need For Skilled Workforce
4.5 Industry Attractiveness – Porter’s Five Force Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Emerging Use-cases for AI in Financial Technology
4.7 Technology Snapshot
5 MARKET SEGMENTATION
5.1 By Type
5.2 By Deployment
5.3 By Application
5.3.2 Credit Scoring
5.3.3 Quantitative & Asset Management
5.3.4 Fraud Detection
5.3.5 Others (Market Research / Sentiment Analysis, Insurance, Predictive Analytics)
5.4.1 North America
5.4.3 Asia Pacific
5.4.4 Rest Of The World
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 IBM Corporation
6.1.2 Intel Corporation
6.1.4 Amazon Web Services, Inc.
6.1.5 Samsung Group
6.1.6 IPsoft Inc.
6.1.7 Next IT Corporation
6.1.8 Microsoft Corporation
6.1.10 Ripple Labs Inc.
6.1.11 Trifacta Software Inc.
6.1.12 Zeitgold GmbH
6.1.13 TIBCO Software
6.1.14 Data Minr Inc.
6.1.15 Sift Science Inc.
6.1.16 Pefin Holdings LLC
6.1.17 Betterment Holdings Inc.
6.1.18 WealthFront Software Inc.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
Name: Ajay More
Phone: US +14242530807/ UK +44 20 3239 8187
Email: [email protected]
Our Other Reports:
Automated Number Plate Recognition (ANPR) and Detection Sensor Market 2020 – 2026 | Global Industry Manufacturing Size, Share, Business Insights, Development Status, Key Challenges and Forecast Analysis