Close Menu
fintechbits
  • News
  • AI
  • Acquisitions
  • Trends
  • Insights
  • Rumors
  • Startups
  • finjobsly

Subscribe to Updates

Get the latest news from Fintechbits.

Trending Now

Microsoft asserts that its AI diagnostic tool has the potential to outperform medical professionals.

July 1, 2025

Indian fintech firm Fincfriends secures $11.5 million in debt financing.

July 1, 2025

Exploring How Bank AI-Native Drives Innovation – FF News

July 1, 2025

Insightsoftware introduces Justperform to France, offering AI-driven support for financing teams.

July 1, 2025
Facebook X (Twitter) Instagram
Trending
  • Microsoft asserts that its AI diagnostic tool has the potential to outperform medical professionals.
  • Indian fintech firm Fincfriends secures $11.5 million in debt financing.
  • Exploring How Bank AI-Native Drives Innovation – FF News
  • Insightsoftware introduces Justperform to France, offering AI-driven support for financing teams.
  • Fioneer Unveils AI Agent to Revolutionize Financial Services Operations
  • How Additiv employs AI to transform financial services
  • Saurabh Dwivedi Appointed CTO of Indian Fintech Company Mobikwik
  • The financial aspect of Newsai healthcare positively impacts income collection throughout the average income cycle, as AI enables more accurate and efficient decision-making, ensuring hospitals receive their rightful reimbursements.
Facebook X (Twitter) Instagram Pinterest Vimeo
fintechbits
  • News

    Fintech Company Pine Labs Submits IPO Documents to SEBI for Fundraising, According to Reports

    June 26, 2025

    Breaking News: Initial lineup of demonstrations revealed for FinovateFall 2025

    June 12, 2025

    Fintech Scotland and TSB unveil a new innovation lab initiative.

    June 3, 2025

    OECD Economic Outlook June 2025: The Fintech Executive’s Strategic Playbook

    June 2, 2025

    The impact of the fintech recruitment crisis on job seekers.

    May 28, 2025
  • AI

    Microsoft asserts that its AI diagnostic tool has the potential to outperform medical professionals.

    July 1, 2025

    Exploring How Bank AI-Native Drives Innovation – FF News

    July 1, 2025

    Insightsoftware introduces Justperform to France, offering AI-driven support for financing teams.

    July 1, 2025

    Fioneer Unveils AI Agent to Revolutionize Financial Services Operations

    July 1, 2025

    How Additiv employs AI to transform financial services

    July 1, 2025
  • Acquisitions

    African fintech leaders are shaping the industry through worldwide acquisitions.

    June 30, 2025

    Acrisure obtains significant funding to enhance its fintech strategy.

    June 14, 2025

    $200 million IPO SPAC aims for acquisitions in fintech and AI sectors.

    June 1, 2025

    Wealthsimple hires multiple teams to enhance family financial management.

    May 31, 2025

    The HPS of Morocco plans to acquire a Fintech company by 2027, referred to as CEO – TradingView News.

    May 3, 2025
  • Trends

    Key Trends and Focus Areas in Fintech Payments for 2025

    June 22, 2025

    Overview of the Singapore Fintech Market: Market Size, Trends, and Growth Potential

    June 18, 2025

    Southeast Asia’s Fintech Market: Size, Trends, and Growth Potential

    June 13, 2025

    Irish fintech remains on a remarkable growth trajectory, contrary to global trends.

    June 12, 2025

    The Irish fintech sector is thriving and surpassing global trends.

    June 9, 2025
  • Insights

    Schaeffer Investment Research Scholarships Break Through Significant Resistance Levels

    June 27, 2025

    Finance Magnates Reports: XBO Designated as Top Cryptocurrency Payment Gateway. XBO’s core principles of trust and simplicity align with cutting-edge solutions, providing customers access to an award-winning crypto payment option. 16 hours ago

    June 26, 2025

    Fintech Bank competes with HSBC and Lloyds in the current account market.

    June 24, 2025

    Netcapital’s Nasdaq acquisition of a web3-based free gaming platform without mixing code

    June 19, 2025

    Ali Kassab and Freedom PSP: Unraveling the Myths of Fintech

    June 19, 2025
  • Rumors

    The Giant Fintech Green Point Captivates Investment Capital Interest

    June 25, 2025

    Chinese Ant Group refutes speculation about a partnership with Rwa and Stablecoin.

    June 20, 2025

    Tua Tagovailoa Trade Speculation: Miami Dolphins May Pursue QB Negotiations After 2025 Season if Playoff Aspirations Fall Short | NFL News

    June 16, 2025

    Paraphrase the title from the Circle files regarding the IPO for the Bank.

    June 7, 2025

    Toncoin achieves $1 billion in trading volume as Visa executive joins and Musk speculation grows

    June 4, 2025
  • Startups

    Indian fintech firm Fincfriends secures $11.5 million in debt financing.

    July 1, 2025

    Saurabh Dwivedi Appointed CTO of Indian Fintech Company Mobikwik

    July 1, 2025

    Morgan Stanley terminates Fintech private banking activities valued at 19.1 INR

    July 1, 2025

    Malaysia is introducing a platform for ASEAN startups to assist regional entrepreneurs.

    June 30, 2025

    The emerging phase of competition in India’s fintech sector

    June 30, 2025
  • finjobsly
fintechbits
Home ยป 76% of financial institutions are already on board with AI
AI in Finance

76% of financial institutions are already on board with AI

6 Mins Read
Facebook Twitter Pinterest Telegram LinkedIn Tumblr Email Reddit
76 Of Financial Institutions Are Already On Board With Ai Ff News At Money20 20 Usa.jpg
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link

76% of financial institutions are already on board the AI.

It is according to a recent report Since Excursing capital in partnership MONEY20 / 20which reveals the latest people on the adoption of AI in financial services.

At the United States Conference last year, we talked to Micky Tesfaye to the Money20 / 20 team and Lauren Kolodny of Acrew Capital to find out more.

Watch the video to get some of the latest information on how technology is used in the landscape, from startups to holders.

And, discover:

  • How many banks use AI in products for customers.
  • Where are the gaps to be used by startups?
  • Who has adopted AI the most?

The impact of AI on Fintech

In the video, we were joined by Micky Tesfaye who is responsible for the content in Money20 / 20, and Lauren Kolodny, co-founder of Acrew Capital, who were perfectly placed to explain why the two organizations have joined forces to produce this report, what you can read hereThe main ideas discovered, and what AI means for the future of Fintech.

Why associate with this report?

Acrew saw Money20 / 20 as the ideal partner because of his status as a key meeting point for the financial industry. As Kolodny said, “everyone attends it”. The conference serves as a hub for opinion leadership, bringing together startups, banks, regulators and investors to discuss the latest trends shaping financial services.

Tesfaye added that Money20 / 20’s goal has always been to reflect the evolution of the industry. Since the launch of Chatgpt, AI has dominated conversations during their events in the world, but a large part of this discussion lacked a broader context. This report was aimed at filling this gap, offering a structured overview of how financial institutions really use AI and what it means for the future of industry.

Key results: adoption of AI in financial services

One of the most surprising conclusions was the speed with which financial institutions adopted AI. Acrew and Money20 / 20 analyzed 221 main financial services companies, according to their advertisements related to AI since January 2023. The figures were narcotic:

  • 76% of these companies have announced AI initiatives.
  • 51% integrated AI into customer products.
  • A total of 376 AI initiatives have been launched in less than two years.

For an industry not traditionally known for the early adoption of new technologies, these statistics have expectations. Kolodny stressed that AI was not only experienced – it becomes the heart of financial products and services.

Tesfaye has echoed this feeling, noting that if media coverage often presents AI in finance as a high level discussion in slow motion, reality is much more dynamic. The report clearly indicates that the adoption of AI is not a future possibility – it now occurs at an incredible pace.

The competitive landscape for AI in finance

One of the biggest changes that AI brings to the Fintech is the way the competition takes place between holders and startups. Unlike past technological waves, such as mobile or cloud, AI’s success strongly depends on access to data. This gives financial players established an advantage, because they already have massive data sets to form AI models.

However, Kolodny stressed that there was still a lot of room for startups. Native companies AI can find opportunities by focusing on areas where holders are slower to innovate. The report highlights two specific gaps:

  1. Agent payments: Although the digital assistants fed by AI become more and more common, few companies have announced solutions to allow these agents to make payments independently. This could be a space where startups work.
  2. Gen-ai for fraud detection: Despite the rise in financial crimes focused on AI, only 7% of the companies studied actively use the generator for the prevention of fraud. Meanwhile, fraud linked to Deepfake has jumped 700% from one year to the next. This difference suggests a major opportunity for startups that can build fraud detection tools led by AI.

Tesfaye also underlined the landscape of Money20 / 20 exhibitors as proof of the impact of AI. Unlike past technological waves where holders hesitated to adopt new innovations, AI is adopted at all levels. This year’s event featured big names like Openai, Anthropic and Nvidia alongside AI startups at an early stage, all competing to shape the future of industry.

A changing state of mind: from competition to collaboration

As the adoption of AI accelerates, the traditional vision of startups against holders is evolving. While inherited financial institutions integrate AI on a large scale, they are always faced with challenges in fields such as compliance and detection of fraud. This opens the door to startups to collaborate with established players rather than just trying to disturb them.

Kolodny noted that regulatory clarity will play a big role in the future of AI in finance. As regulators, regulators better understand technology, the pace of AI innovation should increase, in particular in high issues such as fraud prevention and compliance.

A report built for industry

Beyond the ideas of the report itself, Acrew and Money20 / 20 also published a database Where users can explore AI adoption trends and execute their own analyzes. Kolodny encouraged Fintech professionals to dig into data and discover new ideas.

Tesfaye stressed that it is not only a static research part – it is a shared industry project designed to follow the impact of AI over time. By making data widely accessible, Money20 / 20 hopes to feed more informed conversations and strategic decision -making in the financial sector.

Ahead

While the conversation ended, the two speakers thought about Money20 / 20 USA’s energy. Kolodny noted that, despite occasional assertions that Fintech loses momentum, industry is clearly alive and scalable. AI has the potential to fundamentally reconstruct financial infrastructure from scratch, and the adoption rate shows no slowdown.

Tesfaye has strengthened the point with a last point to remember: AI in financial services is not a question of “if” or “when”. That’s already there.

Make sure to catch more from our major Money20 / 20 interviews here.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Microsoft asserts that its AI diagnostic tool has the potential to outperform medical professionals.

July 1, 2025

Exploring How Bank AI-Native Drives Innovation – FF News

July 1, 2025

Insightsoftware introduces Justperform to France, offering AI-driven support for financing teams.

July 1, 2025
Leave A Reply Cancel Reply

Latest news

Microsoft asserts that its AI diagnostic tool has the potential to outperform medical professionals.

July 1, 2025

Indian fintech firm Fincfriends secures $11.5 million in debt financing.

July 1, 2025

Exploring How Bank AI-Native Drives Innovation – FF News

July 1, 2025
News
  • AI in Finance (1,316)
  • Breaking News (152)
  • Corporate Acquisitions (65)
  • Industry Trends (176)
  • Jobs Market News (290)
  • Market Insights (188)
  • Market Rumors (239)
  • Regulatory Updates (149)
  • Startup News (872)
  • Technology Innovations (151)
  • X Feed (1)
About US
About US

FintechBits is a blog delivering the latest news and insights in fintech, finance, and technology. We cover breaking news, market trends, innovations, and expert opinions to keep you informed about the future of finance

Facebook X (Twitter) Instagram Pinterest Reddit TikTok
News
  • AI in Finance (1,316)
  • Breaking News (152)
  • Corporate Acquisitions (65)
  • Industry Trends (176)
  • Jobs Market News (290)
  • Market Insights (188)
  • Market Rumors (239)
  • Regulatory Updates (149)
  • Startup News (872)
  • Technology Innovations (151)
  • X Feed (1)
Happening Now

November 28, 2024

“ Intentionally collaborative ”: how the Rotman school of U of T leads Innovation Fintech

February 6, 2025

‘1957 Ventures’ to Drive FinTech Innovation in Saudi Arabia

September 10, 2024
  • About FintechBits
  • Advertise With us
  • Contact us
  • Disclaimer
  • Privacy Policy
  • Terms and services
  • BUY OUR EBOOK GUIDE
© 2025 Designed by Fintechbits

Type above and press Enter to search. Press Esc to cancel.