The North America Autonomous Finance Market would witness market growth of 12.8% CAGR during the forecast period (2022-2028).
To automate business procedures, banks and other financial institutions have raised funds for technologies like blockchain, robotic process automation (RPA), data analytics, and artificial intelligence (AI). As a result, global banks such as Goldman Sachs, Barclays, and Moelis have automated back-end procedures to increase productivity, lessen the burden, and better use staff for core duties.
One of the main factors influencing the expansion of autonomous finance operations is the shifting client demands for real-time financial services. Thus, suppliers of financial services are pushed to change to meet the most current client requirements. For example, World Pay Group, a provider of payment processing services, enabled businesses to accept cryptocurrency payments from customers both online and in person. In addition, commonplace payment options like digital wallets clearly show the adoption of digital payments.
Moreover, the development of the autonomous finance sector is anticipated to be aided by innovation fostered by cutting-edge technologies like blockchain-based autonomous decentralized finance. An autonomous financial function may make choices based on the data gathered and leverages technologies beyond typical automation to add features like self-learning and self-correction. All areas of the finance department, from the back office to the CFO's office, have the potential to change due to these technologies.
The banks of Canada have a vast network of about 6,205 branches and 18,303 automated banking machines (ABMs) spread across the country. Canada has one of the greatest per capita ABM numbers in the world and high levels of electronic channel penetration, such as debit cards, internet banking, and telephone banking. ABMs are used by nearly 26% of Canadians for the majority of their banking transactions. Thus, Canada has a well-developed and organized banking sector that is expected to benefit massively from the growing adoption of smart finance technologies. Thus, the regional Autonomous Finance Market is expanding.
The US market dominated the North America Autonomous Finance Market by Country in 2021; thereby, achieving a market value of $7,835.8 million by 2028. The Canada market is experiencing a CAGR of 15.4% during (2022 - 2028). Additionally, The Mexico market would exhibit a CAGR of 14.4% during (2022 - 2028).
Based on Solution, the market is segmented into Auto Payments, Digital Identity Management System, Loan Application Processing, Liquidity Management, Asset Management, and Others. Based on End-Use, the market is segmented into Banks, Financial Institutions, Healthcare, Insurance Companies, Telecom, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Autonomous Finance Market is Estimated to reach $33.3 Billion by 2028, at a CAGR of 13.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, NICE Ltd., HighRadius Corporation, Signzy Technologies Private Limited, Roots Automation, Inc., ReGov Technologies Sdn Bhd, Fennech Financial Ltd, Auditoria.AI, VIC.AI and ViralGains, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Solution
- Auto Payments
- Digital Identity Management System
- Loan Application Processing
- Liquidity Management
- Asset Management
- Others
By End-Use
- Banks
- Financial Institutions
- Healthcare
- Insurance Companies
- Telecom
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Oracle Corporation
- NICE Ltd.
- HighRadius Corporation
- Signzy Technologies Private Limited
- Roots Automation, Inc.
- ReGov Technologies Sdn Bhd
- Fennech Financial Ltd
- Auditoria.AI
- VIC.AI
- ViralGains, Inc.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Autonomous Finance Market, by Solution
1.4.2 North America Autonomous Finance Market, by End-Use
1.4.3 North America Autonomous Finance Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. North America Autonomous Finance Market by Solution
3.1 North America Auto Payments Market by Country
3.2 North America Digital Identity Management System Market by Country
3.3 North America Loan Application Processing Market by Country
3.4 North America Liquidity Management Market by Country
3.5 North America Asset Management Market by Country
3.6 North America Others Market by Country
Chapter 4. North America Autonomous Finance Market by End-Use
4.1 North America Banks Market by Country
4.2 North America Financial Institutions Market by Country
4.3 North America Healthcare Market by Country
4.4 North America Insurance Companies Market by Country
4.5 North America Telecom Market by Country
4.6 North America Others Market by Country
Chapter 5. North America Autonomous Finance Market by Country
5.1 US Autonomous Finance Market
5.1.1 US Autonomous Finance Market by Solution
5.1.2 US Autonomous Finance Market by End-Use
5.2 Canada Autonomous Finance Market
5.2.1 Canada Autonomous Finance Market by Solution
5.2.2 Canada Autonomous Finance Market by End-Use
5.3 Mexico Autonomous Finance Market
5.3.1 Mexico Autonomous Finance Market by Solution
5.3.2 Mexico Autonomous Finance Market by End-Use
5.4 Rest of North America Autonomous Finance Market
5.4.1 Rest of North America Autonomous Finance Market by Solution
5.4.2 Rest of North America Autonomous Finance Market by End-Use
Chapter 6. Company Profiles
6.1 Oracle Corporation
6.1.1 Company Overview
6.1.2 Financial Analysis
6.1.3 Segmental and Regional Analysis
6.1.4 Research & Development Expense
6.1.5 SWOT Analysis
6.2 NICE Ltd.
6.2.1 Company Overview
6.2.2 Financial Analysis
6.2.3 Segmental and Regional Analysis
6.2.4 Research & Development Expenses
6.2.5 Recent strategies and developments:
6.2.5.1 Product Launches and Product Expansions:
6.3 HighRadius Corporation
6.3.1 Company Overview
6.3.2 Recent strategies and developments:
6.3.2.1 Partnerships, Collaborations, and Agreements:
6.4 Signzy Technologies Private Limited
6.4.1 Company Overview
6.5 Roots Automation, Inc.
6.5.1 Company Overview
6.6 ReGov Technologies SDN BHD
6.6.1 Company Overview
6.7 Fennech Financial Ltd
6.7.1 Company Overview
6.8 Auditoria.AI
6.8.1 Company Overview
6.9 VIC.AI
6.9.1 Company Overview
6.9.2 Recent strategies and developments:
6.9.2.1 Partnerships, Collaborations, and Agreements:
6.10. ViralGains, Inc.
6.10.1 Company Overview
TABLE 1 North America Autonomous Finance Market, 2018 - 2021, USD Million
TABLE 2 North America Autonomous Finance Market, 2022 - 2028, USD Million
TABLE 3 North America Autonomous Finance Market by Solution, 2018 - 2021, USD Million
TABLE 4 North America Autonomous Finance Market by Solution, 2022 - 2028, USD Million
TABLE 5 North America Auto Payments Market by Country, 2018 - 2021, USD Million
TABLE 6 North America Auto Payments Market by Country, 2022 - 2028, USD Million
TABLE 7 North America Digital Identity Management System Market by Country, 2018 - 2021, USD Million
TABLE 8 North America Digital Identity Management System Market by Country, 2022 - 2028, USD Million
TABLE 9 North America Loan Application Processing Market by Country, 2018 - 2021, USD Million
TABLE 10 North America Loan Application Processing Market by Country, 2022 - 2028, USD Million
TABLE 11 North America Liquidity Management Market by Country, 2018 - 2021, USD Million
TABLE 12 North America Liquidity Management Market by Country, 2022 - 2028, USD Million
TABLE 13 North America Asset Management Market by Country, 2018 - 2021, USD Million
TABLE 14 North America Asset Management Market by Country, 2022 - 2028, USD Million
TABLE 15 North America Others Market by Country, 2018 - 2021, USD Million
TABLE 16 North America Others Market by Country, 2022 - 2028, USD Million
TABLE 17 North America Autonomous Finance Market by End-Use, 2018 - 2021, USD Million
TABLE 18 North America Autonomous Finance Market by End-Use, 2022 - 2028, USD Million
TABLE 19 North America Banks Market by Country, 2018 - 2021, USD Million
TABLE 20 North America Banks Market by Country, 2022 - 2028, USD Million
TABLE 21 North America Financial Institutions Market by Country, 2018 - 2021, USD Million
TABLE 22 North America Financial Institutions Market by Country, 2022 - 2028, USD Million
TABLE 23 North America Healthcare Market by Country, 2018 - 2021, USD Million
TABLE 24 North America Healthcare Market by Country, 2022 - 2028, USD Million
TABLE 25 North America Insurance Companies Market by Country, 2018 - 2021, USD Million
TABLE 26 North America Insurance Companies Market by Country, 2022 - 2028, USD Million
TABLE 27 North America Telecom Market by Country, 2018 - 2021, USD Million
TABLE 28 North America Telecom Market by Country, 2022 - 2028, USD Million
TABLE 29 North America Others Market by Country, 2018 - 2021, USD Million
TABLE 30 North America Others Market by Country, 2022 - 2028, USD Million
TABLE 31 North America Autonomous Finance Market by Country, 2018 - 2021, USD Million
TABLE 32 North America Autonomous Finance Market by Country, 2022 - 2028, USD Million
TABLE 33 US Autonomous Finance Market, 2018 - 2021, USD Million
TABLE 34 US Autonomous Finance Market, 2022 - 2028, USD Million
TABLE 35 US Autonomous Finance Market by Solution, 2018 - 2021, USD Million
TABLE 36 US Autonomous Finance Market by Solution, 2022 - 2028, USD Million
TABLE 37 US Autonomous Finance Market by End-Use, 2018 - 2021, USD Million
TABLE 38 US Autonomous Finance Market by End-Use, 2022 - 2028, USD Million
TABLE 39 Canada Autonomous Finance Market, 2018 - 2021, USD Million
TABLE 40 Canada Autonomous Finance Market, 2022 - 2028, USD Million
TABLE 41 Canada Autonomous Finance Market by Solution, 2018 - 2021, USD Million
TABLE 42 Canada Autonomous Finance Market by Solution, 2022 - 2028, USD Million
TABLE 43 Canada Autonomous Finance Market by End-Use, 2018 - 2021, USD Million
TABLE 44 Canada Autonomous Finance Market by End-Use, 2022 - 2028, USD Million
TABLE 45 Mexico Autonomous Finance Market, 2018 - 2021, USD Million
TABLE 46 Mexico Autonomous Finance Market, 2022 - 2028, USD Million
TABLE 47 Mexico Autonomous Finance Market by Solution, 2018 - 2021, USD Million
TABLE 48 Mexico Autonomous Finance Market by Solution, 2022 - 2028, USD Million
TABLE 49 Mexico Autonomous Finance Market by End-Use, 2018 - 2021, USD Million
TABLE 50 Mexico Autonomous Finance Market by End-Use, 2022 - 2028, USD Million
TABLE 51 Rest of North America Autonomous Finance Market, 2018 - 2021, USD Million
TABLE 52 Rest of North America Autonomous Finance Market, 2022 - 2028, USD Million
TABLE 53 Rest of North America Autonomous Finance Market by Solution, 2018 - 2021, USD Million
TABLE 54 Rest of North America Autonomous Finance Market by Solution, 2022 - 2028, USD Million
TABLE 55 Rest of North America Autonomous Finance Market by End-Use, 2018 - 2021, USD Million
TABLE 56 Rest of North America Autonomous Finance Market by End-Use, 2022 - 2028, USD Million
TABLE 57 Key Information – Oracle Corporation
TABLE 58 key information – NICE Ltd.
TABLE 59 Key Information – HighRadius Corporation
TABLE 60 Key Information – Signzy TECHNOLOGICAL PRIVATE LIMITED
TABLE 61 Key Information – Roots autoMATION, INC.
TABLE 62 Key Information – ReGov Technologies Sdn Bhd
TABLE 63 Key Information - Fennech Financial Ltd
TABLE 64 Key Information – AUDITORIA.AI
TABLE 65 Key Information – VIC.AI
TABLE 66 Key Information – VIRALGAINS, iNC.
List of Figures
FIG 1 Methodology for the research
FIG 2 SWOT analysis: Oracle Corporation