AI Agents in Financial Services Market Size, Share & Industry Analysis, By Agent Type (Conversational AI Agents, Risk & Compliance Agents, Fraud Detection Agents, Credit & Lending Agents, Investment & Wealth Agents, Payments & Transaction Agents, and Others), By Deployment Type (On-Premises, Cloud-based, and Hybrid), By End User (Banks, Insurance, and Non-Banking Financial Institutions), and Regional Forecast, 2025 – 2032

The global AI agents in financial services market size was valued at USD 1,569.3 million in 2024. The market is projected to grow from USD 1,747.1 million in 2025 to USD 4,280.0 million by 2032, exhibiting a CAGR of 13.7% during the forecast period.

Agentic Artificial Intelligence is largely in demand across financial institutions including banks, wealth management institutions, insurance companies, and non-banking institutions. Increasing demand for risk management, enhanced customer experience, and advanced data analytics in financial companies are all boosting the growth of AI Agents in the financial services market. Heavy investments in AI-driven companies, and innovative start-ups, especially in emerging and advanced economies, are further expected to bolster the market. Massive data generation within financial institutions is significantly accelerating the demand for regulatory compliance and efficient cybersecurity solutions, thereby boosting the growth of AI agents. For instance, according to UN Trade & Development, AI technology in the frontier technology market is likely to grow from 7% in 2023 to 29% by 2033, representing a 25-fold growth over a decade.

AI Agents are used in several tasks including trade processing, portfolio optimization, financial market analysis, marketing strategies, fraud management, client servicing, auditing, compliance, and cybersecurity. The market continues to grow owing to their wide range of applications such as personalized customer engagements, and risk management tasks.

Key players in the market such as IBM Corporation, and Microsoft, are expanding their offerings by developing new AI models and platforms.

Although the COVID-19 pandemic temporarily limited access to financial institutions, it accelerated the shift toward mobile banking and net banking solutions. This shift, in turn, increased the demand for AI-based cybersecurity solutions, with long-term growth trends remaining strong.

Download Free sample to learn more about this report.

IMPACT OF STARTUP ECOSYSTEM

Rising Venture Capital Investments in Emerging StartUps to Boost Market Development

Strong backing to the startup ecosystem by venture capitalists, particularly in the field of generative AI and Agentic AI solutions, is expected to drive the AI agents in the financial services market growth. AI agents are projected to grow at a significant rate in the financial services market as a result of their wide array of applications and long-term cost efficiency for financial institutions. The increasing volume of financial transactions and growing data availability are key factors driving the adoption of AI Agents in the BFSI sector.

• For instance, according to the OECD a total count of 938 venture capital investments was registered globally in the generative AI space in 2024, with an average investment size of about USD 97 million for the year.

IMPACT OF TARIFFS ON THE MARKET

Increased AI Infrastructure Cost and Delayed Deployment to Limit Market Growth

Agentic AI solutions might pose certain challenges, particularly related to increased hardware costs and deployment timelines. Delays in the construction of AI infrastructure might temporarily slow the adoption of AI-driven solutions by financial institutions. Increased cost of hardware might further inflate the cost of AI solutions impacting the demand. Increasing dependency on cloud services might further challenge the AI Agents in financial services market growth.

MARKET DYNAMICS

AI Agents in Financial Services Market Trends

Increased Regulatory Compliances and Operational Cost to Drive Market Growth

Several financial institutions are seeking to reduce operational costs and enhance customer service through Agentic AI. Managing stringent regulations and rising incidents of monetary fraud is traditionally a workforce–intensive and costly process for financial institutions. AI agents in financial services aid in reducing operational costs and enhance efficient transaction monitoring across financial institutions. Several anti-money laundering cases, KYC verification, and regulatory compliance management require AI agents to ensure efficient monitoring.

Market Drivers

Wide Array of Applications Across Financial Processes to Bolster Market Growth

AI agents in financial services market share is growing owing to their prominent application in customer service enhancement, detection and prevention of cybersecurity threats, and regulatory compliance and verification. Banks and other financial institutions are increasingly automating tasks, streamlining operations, and increasing operational efficiency through these solutions. AI Agents allow faster detection of fraud activities with minimal error, enhanced risk assessments, and ensure regulatory compliance. Additionally, these agents offer data-driven decision-making such as financial forecasting and credit scoring. Customer engagement remains a focus for banking and financial services, especially in emerging and developing countries. AI Agents allow faster, automated, and personalized responses, thereby driving the demand for Agentic AI solutions. Moreover, key players in the market are heavily funding startups and domestic players to drive innovative AI-based solutions and reduce long-term operational costs. For instance, in May 2025, Affiniti attracted over USD 17 million from investors including Contrarian Thinking Capital and Sequel.   

Market Restraints

High Cost of Installation and Limited Skilled Workforce Might Hinder Market Growth

Several developing and emerging economies continue to operate on legacy IT infrastructure requiring upgrades and customizations for integration with modern technologies. Implementing new infrastructure across banking and financial companies often involves high costs of installation and the need for a skilled workforce. Budget constraints and limited availability of skilled workforce might limit the growth of the market. Additionally, several public sector and cooperative banks, due to the limited availability of financial resources, might face challenges in deploying AI-driven solutions, hindering market growth.

Market Opportunities

Growing Investments in Wealth Management Advisory Services to Bring Market Opportunities

Growing awareness across regions about personal wealth management is generating a strong demand for portfolio management advisors. Young and financially-educated demographics in developing and emerging nations such as India, and China are seeking financial management solutions which would further generate demand for AI agents and robo-advisors. AI agents in wealth management environments offer diversified investment solutions to customers apart from derivatives, equity, and real estate. These advanced agents offer efficient and accurate wealth management solutions, making it easier and more convenient for the customers. For instance, Morgan Stanley Wealth Management announced a Suite of GenAI tools for financial advisors in June 2024.

SEGMENTATION Analysis

By Agent Type

Conversational AI Agents Segment Dominated the Market Owing to their Ability to Offer Personalized Customer Response

Based on agent type, the market is fragmented into conversational AI agents, risk & compliance agents, fraud detection agents, credit & lending agents, investment & wealth agents, payments & transaction agents, and others. Other segments include autonomous decision-making agents and multi-agent systems. Conversational AI Agents accounted for the highest market share in 2024, driven by their ability to offer personalized responses and efficient customer service.

Gen AI-powered agents in financial services act as virtual assistants providing, offering real time data insights and customized banking services, further driving the demand for conversational AI agents in the global market. Customer-centric interactions and accurate response provision to customers would further generate a strong demand for conversational AI agents in banking and other financial institutions. Their ability to enhance customer interactions supports improved decision-making and aligning with individual financial goals, making them a valuable asset for the BFSI Sector.

Fraud detection agents are expected to witness the fastest growth during the forecast period as a result of increasing cyber crimes and financial fraud. The increasing demand for predictive AI models and GenAI Agents to detect frauds and suspicious transactions is driving the segment’s expansion. In order to enhance operational efficiency, financial institutions are increasingly adopting AI agents across various functions such as risk and compliance tasks, credit and lending agents, and wealth and investment management.  

By Deployment Type

On-Premises Segment Leads the Market Due to its Effective Control Over Data Handling

Based on deployment type, the market is segmented into on-premises, cloud-based, and hybrid.

The on-premises segment captures the highest market share, owing to enhanced data security and compliance with stringent regulatory frameworks.

Several banking and non-banking financial institutions continue to run on legacy systems, where integration and data handling are more manageable with on-premises systems. On-premise systems also offer complete control over data handling, reducing operational costs for financial companies.

Cloud-based systems are gaining traction due to their scalability and real-time data accessibility. Cloud-based deployment offers easy integration and improved models with evolving market demand.

By End User

To know how our report can help streamline your business, Speak to Analyst

Banks Segment Dominate the Market As a Result of High Number of Transactions

Based on end user, the market is divided into banks, insurance, and non-banking financial institutions. Banks dominate the market due to a large number of transactions and demand for enhanced customer experience.

Banks demand advanced AI models to optimize their operations such as customer profiling & engagement, financial advice, credit & lending, compliance solutions, and fraud monitoring & detection. The ongoing digital transformation across emerging and developing countries is further driving the demand for GenAI-driven solutions. AI agents allow accurate insights and enhanced operational efficiency throughout end-to-end bank processes, making them a key component in modern banking operations.

The insurance segment is likely to witness the highest growth rate over the forecast period owing to faster claim processing, risk and compliance activities, easy fraud detection and prevention, and other tasks. Increasing awareness and purchase of insurance policies to create large amounts of datasets, would further generate considerable demand for the AI agents during the forecast period.

AI Agents in Financial Services MARKET REGIONAL OUTLOOK

The market for AI agents in Financial Services is classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa.

North America

To get more information on the regional analysis of this market, Download Free sample

North American market accounts for the highest revenue market share owing to the early adoption of AI agents. The growth is backed by capital investment in Agentic AI solutions, evolving demographic demands for advanced financial services, and the continuous development of innovative AI agents. According to the Organization for Economic Cooperation and Development (OECD), the U.S. attracted over USD 15.26 billion in venture capital investments in generative AI. The early adoption of technologies and rising cybercrime rates further boost the market in the region.

The U.S. is poised to dominate the market, owing to the rapid evolution of financial services and the expansion of AI-driven initiatives in the country. The rising demand for treasury management solutions is expected to further bolster the market growth in the U.S. Supported by heavy funding and a robust innovation ecosystem, the U.S. continues to lead in the adoption of generative AI across Banking and financial institutions.  According to the Organization for Economic Cooperation and Development (OECD), the U.S. led the VC investment in Generative AI for the BFSI Sector between 2020 and 2024.

To know how our report can help streamline your business, Speak to Analyst

Asia Pacific

Asia Pacific is experiencing rapid innovation and demand for modernized banking owing to young demographics and convenient digital platforms. The adoption of AI-driven hyper-personalized interactions along with a strong focus on ethical data privacy is boosting the product demand in the region. Growing small and mid-sized AI enterprises, significant investment in AI infrastructure, and demand for risk management and fraud detection are likely to further support the market growth for AI agents in financial services.

Europe

The AI agents in the financial services market in European countries witness steady growth as a result of active investment in early-stage startups, expansion strategies by key players, and the development of innovative Agentic-AI solutions for financial institutions. However, growth in the region faces challenges due to regulatory policies. For instance, in April 2021, the European Union’s-AI Act implemented a strict governance framework and data privacy policies to protect financial institutions from the risk of high-impact AI systems.

South America

Financial ecosystem to deliver strong growth in the South American countries including Brazil, Argentina, and Chile. AI agents in the financial services market are accelerating and leveling up the banking transactions making it easier and simplified for tech-savvy customers. The region’s financial institutions are increasingly turning to AI to reduce operational costs and enhance personalized customer engagement, leading to market growth in the coming years.

Middle East and Africa

The Middle Eastern and African markets are undergoing significant transformation in banking and financial services, driven by the implementation of Agentic AI solutions. Huge amounts of fraudulent transactions across the region and rapid digital transformation owing to young tech-savvy demographics further generate high demand for AI agents. For instance, The South African Banking Risk Information Centre (SABRIC) reported that online banking fraud resulted in losses of about USD 40.8 Million in 2022, an increase of over 24%. This underscores the growing demand for AI agents in fraud detection and risk compliance solutions across the region.

Competitive Landscape

KEY INDUSTRY PLAYERS

Key Players Emphasis on Advancing Conversational AI agents to Support Digital Transformations in Financial Sector

Prominent market players such as IBM Corporation, Accenture, and Microsoft, are investing in AI-startup companies that offer Agentic AI solutions tailored for the financial service sector. These players are focused on advancing conversational AI agents, risk & compliance, and fraud detection technology to support digital transformations in banking and finance. Financial institutions are increasingly collaborating with technological companies to automate repetitive operational tasks and improve service efficiency. For instance, Hebbia raised over USD 130 Million in a Series B round funded by Andreessen Horowitz, Index Ventures, Google Ventures, and Peter Thiel.

List of Key AI Agents in Financial Services Companies Studied (but not limited to)

• IBM Corporation (U.S.)
• Accenture (Ireland)
• Microsoft (U.S.)
• Google Cloud (U.S.)
• Cognizant (U.S.)
• ai (U.S.)
• Verint Systems (U.S.)
• KAI (Kasisto) (U.S.)
• UiPath (U.S.)
• Darktrace (U.K.)
• FICO (U.S.)
• Sendbird (U.S.)
• Cognition Labs (U.S.)
• MavenAGI (U.S.)
• Samaya AI (U.S.)
• Affiniti (U.S.)
• Greenlite AI (U.S.)
• Unique AI (Switzerland)
• Personetics (Israel)
• ai (Norway)

KEY INDUSTRY DEVELOPMENTS

• May 2025: India-based Agentic AI startup Data Sutram secured over USD 9 Million in Series A funding led by B Capital and Lightspeed.
• March 2025: Zurich-based Unique secured an investment of about USD 30 Million in Series A funding round led by CommerzVentures and DN Capital.
• July 2024: Harvey raised over USD 100 Million in a Series C round led by OpenAI, Kleiner Perkins, Elad Gill, Sequoia Capital, and SV Angel.
• September 2024: Hebbia raised about USD 30 Million in a Series A round to develop AI solutions for the banking and financial industry. The funding round was led by Index Ventures.
• September 2023: Ant Group introduced AI models for wealth management market analytics in the financial services industry. The new technology innovation analyzes financial products and helps investors in asset management allocation.

REPORT COVERAGE

The report provides a detailed analysis of the market and focuses on key aspects such as leading companies, agent type, deployment type, and end user. Besides, the report offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that contributed to the growth of the market in recent years.

To gain extensive insights into the market, Download for Customization

REPORT SCOPE & SEGMENTATION