Fintech and Artificial Intelligence

AI-generated summary

Fintech companies are rapidly expanding their presence in traditional financial sectors like payments and loans, as well as in emerging technologies such as blockchain. Experts highlight that artificial intelligence (AI) will be a key driver of growth in the fintech industry by leveraging two main assets. First, AI enables the effective management of vast amounts of data generated through customer acquisition and ongoing sales, supporting data-driven business models. Second, AI facilitates the creation of regulated digital ecosystems—often called sandboxes—where fintech firms can operate as digital banks under frameworks that balance legal prudence and consumer trust, ensuring proper handling of sensitive data.

Furthermore, AI is expected to empower large technology companies to enter the financial sector by obtaining banking licenses and transforming into banks themselves. This evolution could give rise to a digital economy heavily based on AI, blockchain, and digital currencies. The convergence of social media, e-commerce, AI, data analytics, and blockchain technologies is reshaping the banking and financial landscape, potentially creating an entirely new universe of digital financial services. This transformation promises innovative, data-driven, and consumer-trusted financial ecosystems for the future.

Artificial Intelligence is an essential tool for the development of fintech

Fintech companies (financial technological companies) are expanding rapidly. Year after year they consolidate their business in areas such as payments and loans, and also emerging areas such as blockchain.

According to our experts, AI will drive growth in the industry with two main assets:

 – The management of the data generated in every fintech company. Fintech companies must have data-driven business models. This data is generated through the acquisition of a client or, once acquired, by selling the client products and services that generate more data.

– The creation of an ecosystem where these fintech companies can become digital banks (Sandbox) and grow under a regulation that combines tradition (a  legal-prudential framework) and consumers’ trust so they share their data. In this case, AI might become a tool for the right management of this potentially confidential data.

AI will also enable large technology companies to become fintech companies; they will be able to obtain banking licenses and become banks. There might be an entire alternative universe with a digital economy based on digital currency and driven by AI and blockchain. Social media, ecommerce, AI, data and blockchain technologies deeply converge in the banking and financial industry.