Artificial Intelligence and FinTechs in Morocco: Towards a Hybrid Model of Technological Governance

Abstract

In the context of accelerated digital transformation in the financial sector, artificial intelligence (AI) has emerged as a crucial driver of FinTech growth, particularly in developing countries such as Morocco. The implementation of AI in financial services—including automated credit scoring, fraud detection, robo-advisory systems, and predictive analytics—offers promising opportunities for financial inclusion, operational efficiency, and expanded access to credit. However, this technological transition raises significant challenges in terms of governance, algorithm regulation, digital sovereignty, and data protection.

This article aims to examine the conditions required for the emergence of a hybrid model of technological governance for financial AI in Morocco, one that balances innovation, inclusion, and security. The study adopts a qualitative methodology, combining an in-depth review of recent academic literature, institutional reports (World Bank, OECD, Bank Al-Maghrib), and international benchmarks (EU, Singapore, United Kingdom). It draws upon three complementary theoretical frameworks: adaptive regulation, institutional theory, and dynamic capabilities.

Findings highlight Morocco’s recent progress in building digital infrastructure and supporting FinTech initiatives, while also pointing out key limitations: institutional fragmentation, the absence of a dedicated legal framework for AI, a shortage of specialized talent, and technological dependency. In response, the article proposes a strategic roadmap structured around five key pillars: a robust legal framework, algorithmic supervision tools (SupTech), sovereign infrastructure, ethical AI governance, and capacity building. Ultimately, the article advocates for a proactive, context-sensitive, and inclusive governance model capable of supporting a sustainable digital transformation of Morocco’s financial sector.

Keywords: Artificial intelligence, FinTech, Technological governance, Financial inclusion, Morocco

Classification JEL : G18

Paper type: Theoretical Research