State of AI Visibility 2026 BFSI India.
The most extensive AI visibility and GEO report on the Indian BFSI sector. Every major bank, insurer, lender, broker and fintech infrastructure provider, ranked on how often AI names them when a customer asks.
Unveiled at Global Fintech Fest 2026, 9 to 11 September 2026, Mumbai. Find us at Booth JZ14, Jasmine Hall.
categories, from health insurance to core banking tech
companies mapped, 238 of them ranked
prompts run across ChatGPT, Google and Perplexity
The insights report is free: up to 3 categories you compete in, with the brands ranked ahead of you in each. The full report is the whole study, all 32 categories, priced in the form.
categories, from health insurance to core banking tech
companies mapped, 238 of them ranked
prompts run across ChatGPT, Google and Perplexity
Your customers stopped scrolling ten blue links. They ask, and they act on the answer.
When someone asks an AI which health insurer to buy, or which payment gateway to integrate, they get three names and a reason. Not a page of results to evaluate. Three names.
If you are not one of them, you are not in the consideration set at all, and no amount of search ranking rescues you. Most Indian financial brands have never checked. The ones that have were usually surprised.
This report is the first systematic measurement of that, across the whole Indian BFSI sector, engine by engine and category by category.
We asked 1,390 buying questions across 32 categories. Most of the sector was not in the answer.
of tracked brands are never named at all
403 of the 1,031 companies on our rosters were not named once across 1,390 buying questions. Not ranked low. Absent.
of categories have no agreed leader
In 22 of 32 categories, ChatGPT, Google AI Overviews and Perplexity each name a different brand first. Core banking splits three ways: Temenos, Finacle, Mambu.
of citations point at a brand's own site
Of 59,790 sources cited, the largest single bucket is brand-owned. What sits on your own pages is the evidence the answer gets built from.
the spread between a locked and an open category
HDFC Ergo is named in 98% of motor answers. In embedded finance the leader manages 10%. Some categories are already decided; others are unclaimed.
Four things that surprised us
- Search rank does not carry over. The most common organic result in health insurance is named in 4% of AI answers, while a brand with no top-ten organic presence anywhere is named in two thirds of them.
- Backlinks do not predict AI visibility. Across sixteen players we found no relationship between referring domains and how often an engine names the brand.
- The engines read different internets. Google AI Overviews cites four times fewer sources per answer than ChatGPT. Perplexity reads widest, and answers Indian questions from American sources 13% of the time.
- Brands contradict themselves. The average checkable fact — network size, claim ratio, waiting period — carries 9.7 different values across AI answers, and much of that variance starts on the brand's own website.
What it shows you.
Which brands AI names when nobody asks for them
Unbranded prompts only. Not “is Acme good”, but “which is the best health insurance in India”. That is the question that decides a shortlist, and the answer rarely matches the search rankings.
How warmly it recommends them
Being named is not the same as being recommended. Every mention is graded on the strength of the language around it, so a grudging aside is not counted as a win.
Which sources it trusted to decide
The domains cited behind each answer, by engine. This is the part you can act on: it tells you which pages to earn, not merely that you are losing.
The report tells you where you stand. An audit tells you what to do.
A deep GEO audit of your own site, read and vetted by a human before it reaches you, with the fixes ordered by what will actually move your visibility.
Covering all 32 categories of Indian financial services · GFF 2026 · Booth JZ14, Jasmine Hall
What each category covers.
Every category is measured on its own roster and its own buying questions. If you sell into more than one, request up to 3 — the answers, and the brands ranked ahead of you, differ completely between them. If you need all of them, the full report covers every category at Was ₹1,30,000, now ₹1,00,000 + taxes.
Insurance
5Health Insurance
B2C and group. Standalone health insurers, general insurers with a health book, and the advisory and comparison layer around them. Retail indemnity, family floater, senior citizen, top-up and corporate group cover.
Term Life
B2C. Pure protection sold direct and through distribution. Life insurers, aggregators and advisory platforms competing on claim settlement record, riders and underwriting for pre-existing conditions.
Life & Savings
B2C. Endowment, ULIP, guaranteed return and annuity products. Life insurers and the wealth distributors who sell them, competing against mutual funds for the same rupee.
Motor
B2C and commercial. Private car, two-wheeler and commercial vehicle cover. General insurers, digital-first insurers, brokers and the comparison platforms that dominate the search surface.
Travel
B2C. Overseas and domestic travel cover, student policies and visa-mandated plans. General insurers plus specialist travel marketplaces serving outbound Indian travellers.
Banking & payments
8Deposits
B2C and B2B. Savings accounts, fixed and recurring deposits across private, PSU, small finance and payments banks. Competing almost entirely on headline rate, which makes the board unusually volatile.
UPI & Payments
B2C. Consumer payment apps, UPI rails and the banks behind them. Buyer is a retail user choosing an app, not a business choosing a provider.
Cross-border & Remittance
B2C and B2B. Inbound and outbound remittance, foreign currency accounts, and cross-border collections for exporters and SaaS businesses. Domestic players against global incumbents.
Merchant Payments
B2B, small business. Card terminals, soundboxes, QR acceptance and settlement. The buyer is a shopkeeper or a marketplace, and settlement reliability outranks pricing in almost every answer.
Payments Infrastructure
B2B. Payment gateways, orchestration layers, switches, processors and card networks. Buyer is a merchant, platform or bank; the decision turns on success rate and uptime rather than fees.
Banking as a Service
B2B. API layers letting a non-bank offer accounts, cards and payouts through a licensed partner. Buyer is a fintech or platform, and sponsor-bank durability now decides the deal.
Core Banking Tech
B2B. The system of record a bank runs on, plus the switches and channel layers attached to it. Rare, enormous purchases where migration risk beats feature fit.
Cards Issuing Tech
B2B. Issuer processors, card management systems, tokenisation, BIN sponsorship and the personalisation supply chain. Buyer is a bank, NBFC or fintech launching a card programme.
Lending & credit
8Personal Loans
B2C. Unsecured lending from private, PSU and small finance banks, NBFCs and digital-first lenders. The largest roster in the index and one of the most contested boards.
Credit Cards
B2C. Issuers, co-brand programmes and the rewards and comparison layer around them. Buyers arrive by use case — travel, cashback, fuel, first card.
Home Loans
B2C. Banks and housing finance companies, plus the broker and comparison platforms in between. Long research cycles and high-value decisions.
SME Lending
B2B. Working capital, term loans, invoice and supply-chain finance for small businesses. Banks, NBFCs, fintech lenders and government scheme intermediaries.
Lending Tech
B2B. Loan origination and management systems, underwriting engines and co-lending infrastructure. Buyer is a bank, NBFC or fintech lender; integration time usually decides it.
Embedded Finance
B2B. Credit, insurance and payments delivered inside someone else's journey — checkout BNPL, embedded insurance, spend management, co-brands. Buyer is a platform or retailer, and the pitch is conversion.
Collections & Recovery
B2B. Collections platforms, AI calling agents, digital dispute resolution and field tooling. Buyer is a collections head, and RBI conduct rules shape every purchase.
Credit Bureau & Scoring
B2C and B2B. The four bureaus plus alternate-data scorers. Two audiences with opposite needs: a consumer checking or fixing a score, and a lender deciding whose data to underwrite on.
Investing & wealth
3Stockbroking
B2C. Discount and full-service brokers, competing on brokerage, platform reliability and research. Retail investors from first-time to active traders.
Mutual Funds & SIPs
B2C. Asset managers and the distribution platforms that sell them. Buyers arrive by goal — tax saving, retirement, first SIP — rather than by fund house.
Wealth Management & PMS
B2C, high net worth. Private banks, PMS and AIF managers, boutique wealth firms and family offices. The organic search surface is almost entirely community and foreign media, so AI is the only place these firms get recommended.
Infrastructure & AI
8Data & Analytics
B2B. Credit bureaus, account aggregators and alternate-data providers, plus the analytics platforms and services firms that turn it into decisions. Buyer ranges from a chief risk officer to a data lead.
Conversational AI
B2B. Chatbots, voice AI agents, CPaaS and cloud contact centres sold into banks, insurers and lenders. Buyer is a CX or operations lead, and containment rate decides it.
AI Agents & Automation
B2B. Agentic AI and process automation for financial back offices — document processing, reconciliation, workflow orchestration. The youngest category, with the widest gap between demo and deployment.
KYC & Onboarding
B2B. Video KYC, document and identity verification, and the data APIs behind account opening. Buyer is a product or risk owner trading conversion against regulatory defensibility.
Identity & eSign
B2B. Digital signatures, eStamping, document workflows and the biometric and credential infrastructure beneath. Usually a legal buyer, and enforceability outranks user experience.
RegTech & Compliance
B2B. AML and transaction monitoring, regulatory reporting, GST and tax compliance, audit automation. Buyer is a compliance officer or CFO, and purchases are usually triggered by an inspection.
Fraud & Risk
B2B. Transaction fraud detection, device and behavioural signals, mule account detection and risk scoring. The deciding number is the false-positive rate, not the catch rate.
Customer Engagement
B2B. Marketing automation, customer data platforms, campaign and notification infrastructure, CRM and loyalty. In India the decision is often really a deliverability decision.
Not sure which one you sit in, or think your category is missing? Tell us in the request form and we will point you at the right read-out.