Europe Generative AI in BFSI Market Size, Share & Trends Analysis Report By End-User (Banks, Insurance Companies, and Financial Service Providers), By Application), By Country and Growth Forecast, 2024 - 2031

The Europe Generative AI in BFSI Market would witness market growth of 32.4% CAGR during the forecast period (2024-2031).

The Germany market dominated the Europe Generative AI in BFSI Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $554.7 Million by 2031. The UK market is expected to witness a CAGR of 31.3% during (2024 - 2031). Additionally, The France market would register a CAGR of 33.8% during (2024 - 2031).

The consumer experience is one of the most apparent effects of generative AI in BFSI. Customers' expectations for financial services have also evolved as they become accustomed to rapid, on-demand services in other industries. Generative AI helps banks, insurers, and financial firms meet these demands by powering intelligent virtual assistants, personalized product recommendations, and chatbots that deliver real-time, conversational support.

For example, through generative AI, financial firms can create highly personalized customer interactions, tailoring recommendations and advice to individual preferences and past behaviors. This level of personalization not only enhances the customer experience but also deepens engagement, as customers feel that their financial needs are being met in a uniquely tailored manner. Studies indicate that companies using AI to personalize customer interactions report higher satisfaction rates and stronger customer loyalty. With AI handling routine inquiries and providing personalized advice, human staff can focus on more complex client needs, thus improving service efficiency and customer trust.

Austria's financial sector increasingly integrates generative AI technologies to enhance operational efficiency and customer service. A notable example is Raiffeisen Bank International (RBI), which has implemented AI-driven chatbots to provide personalized customer support, streamline interactions, and improve user experience. Austria’s banking sector also showed resilience, with a 10% year-on-year rise in aggregated operating profit in 2021, paired with a significant 60% decrease in risk provisioning. Total profits rose to €6.1 billion, signaling a strong post-pandemic recovery. The Austrian government's support for digital innovation, including initiatives like the "Artificial Intelligence Mission Austria 2030," further encourages the adoption of AI in financial services, fostering a conducive environment for technological advancement in the sector. Hence, the region will present lucrative opportunities for market growth.

Free Valuable Insights: The Global Generative AI in BFSI Market will Hit USD 8.7 Billion by 2031, at a CAGR of 32.7%

Based on End-User, the market is segmented into Banks, Insurance Companies, and Financial Service Providers. Based on Application, the market is segmented into Fraud Detection, Risk Assessment, Customer Experience, Algorithmic Trading, and Other Application. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.

List of Key Companies Profiled

• Accenture PLC
• SAS Institute Inc.
• Google LLC
• Salesforce, Inc.
• Microsoft Corporation
• Adobe, Inc.
• OpenAI, LLC
• IBM Corporation
• NVIDIA Corporation
• Intel Corporation

Europe Generative AI in BFSI Market Report Segmentation

By End-User

• Banks
• Insurance Companies
• Financial Service Providers

By Application

• Fraud Detection
• Risk Assessment
• Customer Experience
• Algorithmic Trading
• Other Application

By Country

• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Europe Generative AI in BFSI Market, by End-User
1.4.2 Europe Generative AI in BFSI Market, by Application
1.4.3 Europe Generative AI in BFSI Market, by Country
1.5 Methodology for the research

Chapter 2. Market at a Glance
2.1 Key Highlights

Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges

Chapter 4. Competition Analysis – Global
4.1 Market Share Analysis, 2023
4.2 Strategies Deployed in Generative AI in BFSI Market
4.3 Porter Five Forces Analysis

Chapter 5. Europe Generative AI in BFSI Market by End-User
5.1 Europe Banks Market by Country
5.2 Europe Insurance Companies Market by Country
5.3 Europe Financial Service Providers Market by Country

Chapter 6. Europe Generative AI in BFSI Market by Application
6.1 Europe Fraud Detection Market by Country
6.2 Europe Risk Assessment Market by Country
6.3 Europe Customer Experience Market by Country
6.4 Europe Algorithmic Trading Market by Country
6.5 Europe Other Application Market by Country

Chapter 7. Europe Generative AI in BFSI Market by Country
7.1 Germany Generative AI in BFSI Market
7.1.1 Germany Generative AI in BFSI Market by End-User
7.1.2 Germany Generative AI in BFSI Market by Application
7.2 UK Generative AI in BFSI Market
7.2.1 UK Generative AI in BFSI Market by End-User
7.2.2 UK Generative AI in BFSI Market by Application
7.3 France Generative AI in BFSI Market
7.3.1 France Generative AI in BFSI Market by End-User
7.3.2 France Generative AI in BFSI Market by Application
7.4 Russia Generative AI in BFSI Market
7.4.1 Russia Generative AI in BFSI Market by End-User
7.4.2 Russia Generative AI in BFSI Market by Application
7.5 Spain Generative AI in BFSI Market
7.5.1 Spain Generative AI in BFSI Market by End-User
7.5.2 Spain Generative AI in BFSI Market by Application
7.6 Italy Generative AI in BFSI Market
7.6.1 Italy Generative AI in BFSI Market by End-User
7.6.2 Italy Generative AI in BFSI Market by Application
7.7 Rest of Europe Generative AI in BFSI Market
7.7.1 Rest of Europe Generative AI in BFSI Market by End-User
7.7.2 Rest of Europe Generative AI in BFSI Market by Application

Chapter 8. Company Profiles
8.1 Accenture PLC
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental Analysis
8.1.4 Research & Development Expenses
8.1.5 Recent strategies and developments:
8.1.5.1 Partnerships, Collaborations, and Agreements:
8.1.6 SWOT Analysis
8.2 SAS Institute, Inc.
8.2.1 Company Overview
8.2.2 SWOT Analysis
8.3 Google LLC (Alphabet Inc.)
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expense
8.3.5 Recent strategies and developments:
8.3.5.1 Partnerships, Collaborations, and Agreements:
8.3.6 SWOT Analysis
8.4 Salesforce, Inc.
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Regional Analysis
8.4.4 Research & Development Expenses
8.4.5 SWOT Analysis
8.5 Microsoft Corporation
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Research & Development Expenses
8.5.5 Recent strategies and developments:
8.5.5.1 Product Launches and Product Expansions:
8.5.6 SWOT Analysis
8.6 Adobe, Inc.
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.6.4 Research & Development Expense
8.6.5 SWOT Analysis
8.7 OpenAI, L.L.C.
8.7.1 Company Overview
8.7.2 SWOT Analysis
8.8 IBM Corporation
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Regional & Segmental Analysis
8.8.4 Research & Development Expenses
8.8.5 SWOT Analysis
8.9 NVIDIA Corporation
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Segmental and Regional Analysis
8.9.4 Research & Development Expenses
8.9.5 SWOT Analysis
8.10. Intel Corporation
8.10.1 Company Overview
8.10.2 Financial Analysis
8.10.3 Segmental and Regional Analysis
8.10.4 Research & Development Expenses
8.10.5 SWOT Analysis

TABLE 1 Europe Generative AI in BFSI Market, 2020 - 2023, USD Million
TABLE 2 Europe Generative AI in BFSI Market, 2024 - 2031, USD Million
TABLE 3 Europe Generative AI in BFSI Market by End-User, 2020 - 2023, USD Million
TABLE 4 Europe Generative AI in BFSI Market by End-User, 2024 - 2031, USD Million
TABLE 5 Europe Banks Market by Country, 2020 - 2023, USD Million
TABLE 6 Europe Banks Market by Country, 2024 - 2031, USD Million
TABLE 7 Europe Insurance Companies Market by Country, 2020 - 2023, USD Million
TABLE 8 Europe Insurance Companies Market by Country, 2024 - 2031, USD Million
TABLE 9 Europe Financial Service Providers Market by Country, 2020 - 2023, USD Million
TABLE 10 Europe Financial Service Providers Market by Country, 2024 - 2031, USD Million
TABLE 11 Europe Generative AI in BFSI Market by Application, 2020 - 2023, USD Million
TABLE 12 Europe Generative AI in BFSI Market by Application, 2024 - 2031, USD Million
TABLE 13 Europe Fraud Detection Market by Country, 2020 - 2023, USD Million
TABLE 14 Europe Fraud Detection Market by Country, 2024 - 2031, USD Million
TABLE 15 Europe Risk Assessment Market by Country, 2020 - 2023, USD Million
TABLE 16 Europe Risk Assessment Market by Country, 2024 - 2031, USD Million
TABLE 17 Europe Customer Experience Market by Country, 2020 - 2023, USD Million
TABLE 18 Europe Customer Experience Market by Country, 2024 - 2031, USD Million
TABLE 19 Europe Algorithmic Trading Market by Country, 2020 - 2023, USD Million
TABLE 20 Europe Algorithmic Trading Market by Country, 2024 - 2031, USD Million
TABLE 21 Europe Other Application Market by Country, 2020 - 2023, USD Million
TABLE 22 Europe Other Application Market by Country, 2024 - 2031, USD Million
TABLE 23 Europe Generative AI in BFSI Market by Country, 2020 - 2023, USD Million
TABLE 24 Europe Generative AI in BFSI Market by Country, 2024 - 2031, USD Million
TABLE 25 Germany Generative AI in BFSI Market, 2020 - 2023, USD Million
TABLE 26 Germany Generative AI in BFSI Market, 2024 - 2031, USD Million
TABLE 27 Germany Generative AI in BFSI Market by End-User, 2020 - 2023, USD Million
TABLE 28 Germany Generative AI in BFSI Market by End-User, 2024 - 2031, USD Million
TABLE 29 Germany Generative AI in BFSI Market by Application, 2020 - 2023, USD Million
TABLE 30 Germany Generative AI in BFSI Market by Application, 2024 - 2031, USD Million
TABLE 31 UK Generative AI in BFSI Market, 2020 - 2023, USD Million
TABLE 32 UK Generative AI in BFSI Market, 2024 - 2031, USD Million
TABLE 33 UK Generative AI in BFSI Market by End-User, 2020 - 2023, USD Million
TABLE 34 UK Generative AI in BFSI Market by End-User, 2024 - 2031, USD Million
TABLE 35 UK Generative AI in BFSI Market by Application, 2020 - 2023, USD Million
TABLE 36 UK Generative AI in BFSI Market by Application, 2024 - 2031, USD Million
TABLE 37 France Generative AI in BFSI Market, 2020 - 2023, USD Million
TABLE 38 France Generative AI in BFSI Market, 2024 - 2031, USD Million
TABLE 39 France Generative AI in BFSI Market by End-User, 2020 - 2023, USD Million
TABLE 40 France Generative AI in BFSI Market by End-User, 2024 - 2031, USD Million
TABLE 41 France Generative AI in BFSI Market by Application, 2020 - 2023, USD Million
TABLE 42 France Generative AI in BFSI Market by Application, 2024 - 2031, USD Million
TABLE 43 Russia Generative AI in BFSI Market, 2020 - 2023, USD Million
TABLE 44 Russia Generative AI in BFSI Market, 2024 - 2031, USD Million
TABLE 45 Russia Generative AI in BFSI Market by End-User, 2020 - 2023, USD Million
TABLE 46 Russia Generative AI in BFSI Market by End-User, 2024 - 2031, USD Million
TABLE 47 Russia Generative AI in BFSI Market by Application, 2020 - 2023, USD Million
TABLE 48 Russia Generative AI in BFSI Market by Application, 2024 - 2031, USD Million
TABLE 49 Spain Generative AI in BFSI Market, 2020 - 2023, USD Million
TABLE 50 Spain Generative AI in BFSI Market, 2024 - 2031, USD Million
TABLE 51 Spain Generative AI in BFSI Market by End-User, 2020 - 2023, USD Million
TABLE 52 Spain Generative AI in BFSI Market by End-User, 2024 - 2031, USD Million
TABLE 53 Spain Generative AI in BFSI Market by Application, 2020 - 2023, USD Million
TABLE 54 Spain Generative AI in BFSI Market by Application, 2024 - 2031, USD Million
TABLE 55 Italy Generative AI in BFSI Market, 2020 - 2023, USD Million
TABLE 56 Italy Generative AI in BFSI Market, 2024 - 2031, USD Million
TABLE 57 Italy Generative AI in BFSI Market by End-User, 2020 - 2023, USD Million
TABLE 58 Italy Generative AI in BFSI Market by End-User, 2024 - 2031, USD Million
TABLE 59 Italy Generative AI in BFSI Market by Application, 2020 - 2023, USD Million
TABLE 60 Italy Generative AI in BFSI Market by Application, 2024 - 2031, USD Million
TABLE 61 Rest of Europe Generative AI in BFSI Market, 2020 - 2023, USD Million
TABLE 62 Rest of Europe Generative AI in BFSI Market, 2024 - 2031, USD Million
TABLE 63 Rest of Europe Generative AI in BFSI Market by End-User, 2020 - 2023, USD Million
TABLE 64 Rest of Europe Generative AI in BFSI Market by End-User, 2024 - 2031, USD Million
TABLE 65 Rest of Europe Generative AI in BFSI Market by Application, 2020 - 2023, USD Million
TABLE 66 Rest of Europe Generative AI in BFSI Market by Application, 2024 - 2031, USD Million
TABLE 67 Key Information – Accenture PLC
TABLE 68 Key Information – SAS Institute, Inc.
TABLE 69 Key Information – Google LLC
TABLE 70 Key Information – Salesforce, Inc.
TABLE 71 Key Information – Microsoft Corporation
TABLE 72 Key Information – Adobe, Inc.
TABLE 73 Key Information – OpenAI, L.L.C.
TABLE 74 Key Information – IBM Corporation
TABLE 75 Key Information – NVIDIA Corporation
TABLE 76 Key Information – Intel Corporation

List of Figures
FIG 1 Methodology for the research
FIG 2 Europe Generative AI in BFSI Market, 2020 - 2031, USD Million
FIG 3 Key Factors Impacting Generative AI in BFSI Market
FIG 4 Market Share Analysis, 2023
FIG 5 Porter’s Five Forces Analysis – Generative AI in BFSI Market
FIG 6 Europe Generative AI in BFSI Market share by End-User, 2023
FIG 7 Europe Generative AI in BFSI Market share by End-User, 2031
FIG 8 Europe Generative AI in BFSI Market by End-User, 2020 - 2031, USD Million
FIG 9 Europe Generative AI in BFSI Market share by Application, 2023
FIG 10 Europe Generative AI in BFSI Market share by Application, 2031
FIG 11 Europe Generative AI in BFSI Market by Application, 2020 - 2031, USD Million
FIG 12 Europe Generative AI in BFSI Market share by Country, 2023
FIG 13 Europe Generative AI in BFSI Market share by Country, 2031
FIG 14 Europe Generative AI in BFSI Market by Country, 2020 - 2031, USD Million
FIG 15 SWOT Analysis: Accenture PLC
FIG 16 SWOT Analysis: SAS INSTITUTE, INC.
FIG 17 SWOT Analysis: Google LLC
FIG 18 SWOT Analysis: Salesforce, Inc.
FIG 19 SWOT Analysis: Microsoft Corporation
FIG 20 SWOT Analysis: Adobe, Inc.
FIG 21 SWOT Analysis: OpenAI, L.L.C.
FIG 22 SWOT Analysis: IBM Corporation
FIG 23 SWOT Analysis: NVIDIA Corporation
FIG 24 SWOT Analysis: Intel corporation