New Delhi: Artificial intelligence (AI) is no longer a futuristic concept—it is actively reshaping the fintech industry. At the recently concluded Money9 Financial Freedom Summit 2025, industry leaders came together for a panel discussion on “All AIs on Fintech Unicorns”, dissecting how AI is driving fintech growth, improving user experience, and addressing risks. The session, moderated by Gaurav Agrawal, Anchor & Executive Producer at TV9 Bharatvarsh, featured experts from Bank Bazaar, PayU, PolicyBazaar, and Moneyfront sharing their views on AI’s impact on finance.
AI’s role in fintech growth
The discussion kicked off with a look at AI’s role in expanding fintech companies. Upasna Batra, Director of Strategy at PayU, explained how AI serves as an assistant, increasing productivity and automating low-level tasks. “When we say artificial intelligence, it’s a tool that increases productivity. It’s more like an assistant—it is not The BOSS. AI automates many repetitive tasks, allowing teams to focus on strategic decisions,” she said.
AI improving customer experience
With AI becoming more embedded in financial services, the panel examined how it enhances customer interactions. Santosh Bhatt, Chief Data Scientist & Head of Advanced Technologies at PolicyBazaar, categorized AI into two types—Narrow AI and General AI. “Right now, we are using narrow AI to automate tasks, but General AI is not fully developed yet. Speech-to-text capabilities are already transforming customer service by pulling insights from conversations and enabling quicker issue resolution,” he explained.
Balancing AI with customer trust
Data privacy and security are ongoing concerns in AI adoption. Mohit Gang, Co-founder & CEO of Moneyfront, stressed the importance of understanding AI’s potential and risks. “Whenever a new technology steamrolls over you, if you are not the steamroller, you are the road. People need to learn how AI works, its pros and cons, and how to protect themselves from misuse,” he said.
AI’s impact on banking and fraud prevention
The banking sector is witnessing major changes due to AI. Pankaj Bansal, Chief Business Officer at Bank Bazaar, outlined its impact on credit risk assessment, fraud detection, customer experience, and operational efficiency. “Credit risk assessment and fraud detection are key areas where AI is making a difference, along with enhancing customer interactions and streamlining operations,” he noted.
Batra further emphasized AI’s role in fraud prevention, authentication, and credit underwriting, highlighting that it builds trust in financial systems.
AI vs. jobs: The big debate
One of the most debated topics in AI adoption is its impact on jobs. Santosh Bhatt reassured that AI is currently reducing errors and biases rather than replacing jobs. “So far, no one has lost jobs in our sector. AI is improving efficiency, but human oversight is still required,” he stated.
Mohit Gang agreed, stressing that human connection remains irreplaceable. “AI can assist in decision-making, but human relationships, trust, and personal advice are essential in wealth management,” he said.
The road ahead: AI’s future in fintech
Looking forward, fintech firms are set to deepen AI integration. Santosh Bhatt projected that in the next 12 months, AI will be part of nearly every process within financial companies, driven by large language models (LLMs). “We have developed our own AI models, keeping costs low. Significant investment in AI is planned,” he shared.
AI adoption in India: A generational shift
Despite AI’s growing presence, Mohit Gang pointed out that India’s wealth management sector still has a long way to go compared to global markets. “India’s fintech sector is evolving, but AI adoption is slower due to the large and diverse population. Younger generations, especially Gen-Z, will adapt much faster,” he said.
At the Money9 Financial Freedom Summit 2025, fintech leaders discussed AI’s growing influence in banking, fraud detection, and financial services. While AI is making fintech smarter and faster, experts emphasized that human relationships and trust will remain crucial. The future of AI in finance is promising, but challenges around data security and job roles remain key concerns. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
