Fintech firms embrace AI for credit, payments, customer insights, more

AI models help financial institutions in understanding delinquencies and speed up disbursements

India's decade-old fintech sector is putting artificial intelligence (AI) at the heart of its work, using the technology for purposes as varied as credit assessment and understanding complex data.

 

Gandhinagar-based Infibeam Avenues, a key player in the payment aggregation space through its CCAvenue brand, is just one fintech company investing heavily in AI. The company reported a 27 per cent yearly growth in consolidated revenue, reaching Rs 944.5 crore in the second quarter of FY25. Its expenses increased by Rs 900.5 crore, driven by “forward-looking investments” in AI-powered innovations, according to Vishal Mehta, chairman and managing director of Infibeam Avenues.