GVR Report cover Autonomous Finance Market Size, Share & Trends Report

Autonomous Finance Market Size, Share & Trends Analysis Report By Solution, By End Use, By Region, And Segment Forecasts, 2021 To 2028

  • Report ID: GVR452082
  • Number of Pages: 0
  • Format: Electronic (PDF)

The rising digital and technological developments over the past few years have led numerous traditional service providers to shift to the digital sphere. Moreover, the COVID-19 pandemic has further triggered significant improvements in the development of digital solutions to ensure efficient access to customers. However, digital financial services offer a completely new customer experience, which can change the financial processes for many customers. Autonomous finance makes use of Artificial Intelligence (AI) and automation to effectively deliver personalized and enhanced experiences specific to the financial services industry.

Autonomous Finance Market Segmentation




Asset Management; Auto Payments; Digital Identity Management System; Liquidity Management; Loan Application Processing; Others

End Use

Banks; Financial Institutions; Healthcare; Insurance Companies; Telecom; Others


North America; Europe; Asia Pacific; Latin America; Middle East & Africa


The global autonomous finance market is expected to witness significant growth over the forecast period owing to the increasing adoption of Artificial Intelligence (AI) in the BFSI industry. Moreover, the growing focus of the industry on enhancing customer experience and improving customer retention is further expected to propel market growth over the forecast period. End users such as banks, insurance companies, and financial institutions have started incorporating automation into their products to streamline everyday transactions such as subscription renewals, bill payments, and insurance. Furthermore, the incorporation of machine learning and AI-based assistants into the infrastructure has played a vital role in reshaping the BFSI industry. Through the use of sophisticated algorithms, these machine learning and AI-based systems can understand how users behave and accordingly provide accurate financial advice, thus eliminating human input from the decision-making process.

Nowadays, financial service applications are designed around a user’s specific financial requirements. These applications autonomously create and execute a financial plan based on the user’s age, goals, bank balances, risk tolerance, and other factors. Essentially, the goal of a financial service application is to reduce the possibility of human error and inefficiencies and improve fund allocation by entrusting advanced algorithms to effectively run tasks such as bill payment automation and portfolio management. The increasing development of financial service applications across the globe is expected to create growth opportunities for the autonomous finance market over the forecast period.

Numerous venture capital firms are focusing on investing in autonomous finance providers owing to the increasing growth prospects of autonomous finance solutions in the BFSI industry. For instance, in September 2021, Vic.ai announced that it had raised USD 50 million Series B funding to drive the adoption of its new AI platform for real-time, autonomous accounting and financial intelligence. This Series B funding was led by ICONIQ Capital, LLC with participation from existing investors such as Cowboy Ventures, Costanoa Ventures, and GGV Capital. Vic.ai plans to use this funding to expand its enterprise offering and release additional AI capabilities for U.S. and European customers.

The key players in the autonomous finance market include Signzy Technologies Private Limited; Roots Automation, Inc.; Biashara Viral Gains Limited; ReGov Technologies Sdn Bhd; Fennech Financial; and NICE Actimize. These market players are adopting various organic and inorganic growth strategies to increase their market share and strengthen their market position. For instance, in August 2021, Vic.ai launched Autopilot, an automated accounting solution that reduces human oversight. Vic.ai’s Autopilot solution is capable of autonomously making accounting-related decisions and notifying whether a human needs to review those decisions or not. The solution logically selects invoices and expenses that meet a certain confidence level and automates them so that they promptly get sent to the approvers without needing any data entry or classification review by a human beforehand.

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