AI spending by India’s financial services sector is set to double in 2026 as banks, insurers, and fintechs modernize operations and respond to digital adoption, a QED Investors report said.
QED Investors, a venture capital firm, said India’s market is split into an affluent top 10% that holds most financial assets, an “emerging” next 30%, and a “sustaining” remaining 60% tied to the informal economy.
The report did not estimate total AI outlay but said near-term spending will likely come mainly from large institutions using AI for fraud detection, verification, collections, outbound engagement, and customer service, with more regulated decisions moving more slowly.
It expects opportunities for startups in fraud and risk systems, compliance workflows, and voice AI, and plans to invest US$250 million to US$300 million in India across its next two fund cycles.
🔗 Source: The Economic Times
Originally written by: Naomi Li Gan
Source: Tech in Asia
Published on: 27 March 2026
Link to original article: India financial services AI spend to double in 2026: report
