DUBLIN–(BUSINESS WIRE)–“LAMEA Artificial Intelligence In Fintech Market Size, Share & Industry Trends Analysis Report By Component (Solutions and Services), By Deployment (On-premise and Cloud), By Application, By Country and Growth Forecast, 2022 – 2028” the report is added ResearchAndMarkets.com’s Offering.
The Latin America, Middle East and Africa Artificial Intelligence in Fintech market is expected to witness a market growth of 19.2% CAGR during the forecast period (2022-2028).
Fintech (financial technology) is a term that refers to the implementation of technology into financial services to improve or automate banking and investment processes. In financial institutions, artificial intelligence (AI) is increasingly being used to recognize and reduce fraud via digital banking channels. Mobile banking, insurance, digital loans, credit scores, asset management and buying and selling operations are included. By observing how customers interact and research their purchases, AI technologies can determine a customer’s normal behavior.
Financial services, on the other hand, use AI to protect customers’ personal data. By quickly evaluating huge algorithms, AI plays an important role in protecting against fraud cases. AI can also help with the analysis of consumer information for people who do not have a credit history that has already been deleted. Peer-to-peer (P2P) businesses assess their potential customers’ behavior and determine the risks associated with doing business with them.
There is a growing interest in healthcare verticalisation, healthcare fintech solutions and changes in how and where people pay for healthcare across the region. The market is likely to be driven by the popularity of digital payments, increased investment in blockchain technology, the rise of e-commerce and the implications of COVID-19.
Dubai and Bahrain are the most advanced countries in the area when it comes to fintech. For example, Dubai’s AI Roadmap has partnered with IBM to create the world’s first AI lab. For civic and public services and experiences, this collaboration has harnessed the power of machine learning and AI. These characteristics are expected to contribute to market expansion throughout the region.
Innovative ideas require innovative financing solutions, which the Mohammed bin Rashid Al Maktoum Innovation Fund offers. The Innovation Fund seeks to provide AED2 billion in funding to support the development of innovative start-ups. The fund’s targeted financial risk management and business development instruments help facilitate innovation activities and support the UAE’s long-term growth. Hence, these factors are expected to escalate the growth of the regional AI in fintech market during the forecast period.
Scope of the study
Market segments covered in the report:
By component
Upon deployment
Upon application
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Business analysis and reporting
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Customer behavior analysis
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Fraud detection
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Virtual assistant (chatbots)
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Quantitative & Asset Management
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Second
By country
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Brazil
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Argentina
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UAE
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Saudi Arabia
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South Africa
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Nigeria
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The rest of LAMEA
Important market players
List of companies profiled in the report:
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IBM Corporation
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Oracle Corporation
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Microsoft Corporation
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Google LLC
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Intel Corporation
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Salesforce.com, Inc.
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Amazon Web Services, Inc.
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ComplyAdvantage
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Amelia US LLC
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Inbenta Technologies, Inc.
Key topics covered:
Chapter 1. Market scope and methodology
Chapter 2. Market overview
Chapter 3. Competitive analysis – Global
Chapter 4. LAMEA Artificial Intelligence in Fintech Market by Component
Chapter 5. LAMEA artificial intelligence in the Fintech market by deployment
Chapter 6. LAMEA Artificial Intelligence in Fintech Market by Application
Chapter 7. LAMEA Artificial Intelligence in Fintech Market by Country
Chapter 8. Company profiles
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