As companies in the financial sector continue to get to grips with the transformative potential of AI, FinTech Global has unveiled its 4th annual AIFinTech100 after thorough analysis of 2,000 candidate firms
FinTech Global, a research platform, has launched the latest edition of its annual AIFinTech100 list. The ranking highlights the leading movers and shakers who are creating a new era of artificial intelligence technologies in the financial sector to foster efficiencies and innovation. For the second consecutive year, Sumsub was selected in the list.
ArtificIAL Intelligence (AI) technology has transformed the way industry does and thinks about business. Countless financial institutions have found new ways to perform old tasks through AI – specifically Generative AI – and many see this trend only accelerating.
Recent research has highlighted the ever-increasing investment in the technology within the FinTech space. The research found the AI market size in FinTech is expected to increase from $42.83bn to $44.08bn by 2024, and then to $50.87bn by 2029.
Banks are also proving to be highly keen and are increasingly investing in AI – they are estimated to spend $4.9bn on AI platforms by 2024, a 21.8% compounded annual growth since 2019.
With the AI market currently experiencing such a rapid growth, the selection process for this year’s AIFinTech100 list was hotly contested. Finalists were picked by an esteemed panel of industry experts and analysts centred on research produced by FinTech Global on over 2,000 FinTech companies.
FinTech Global director Richard Sachar said, “Generative AI and Artificial Intelligence in general are opening opportunities in the financial services sector to not only get ahead of the competition but to also increase efficiencies and offer personalised products to clients. This year’s AIFinTech100 list details some of the best and the brightest in this area who are developing AI applications in areas such as banking, insurance, compliance, customer experience, investment & trading and payments.”
Pavel Goldman-Kalaydin, Head of AI/ML at Sumsub, added: “Being included into the AIFinTech100 list by FinTech Global for the second time in a row is a milestone that underscores our dedication to put AI to its best use. In the light of constantly rising AI-powered threats such as deepfake scams, Sumsub is here to empower companies to respond to the dangers posed by AI effectively, meaning fighting AI with AI. We believe that the future of this technology holds immense opportunities, and the realm of data protection and cybersecurity should be on the forefront of these developments”.
A full list of the AIFinTech100 and detailed information about each company is available to download for free at www.AIFinTech100.com.
About FinTech Global
FinTech Global is the world’s leading provider of FinTech information services, B2B media products and industry events.
We serve a network of over 300,000 FinTech professionals to provide them with essential business information and help them connect with potential investors, clients and partners.A full list of the AIFinTech100 and detailed information about each company is available to download for free at www.AIFinTech100.com #AIFinTech100
