Digitization in FinTech organizations to drive the RegTech Market reaching US$ 45.3 Billion by the year 2032 at a sturdy CAGR of 15.9% in the forecast period 2022-32 | Report by Future Market Insights, Inc.

NEWARK, Del: The global RegTech Market was worth US$ 10.1 Billion in the year 2022 and is expected to reach US$ 45.3 Billion at a strong CAGR of 15.9% between 2022 and 2032.

RegTech, better known as regulatory technology, could be described as one of the subsets of financial technology that emphasizes on technologies enabling the organization’s existing capabilities of providing regulatory obligations in a more efficient manner. RegTech solutions imply using various technology-enabled procedures like cloud computing, machine learning, and blockchain. The advantages include lesser compliance costs coupled with standardization of the compliance process.

Ascent and IBM, in the year 2020, did establish a deal for merging their exclusive RegTech technologies for helping banks and various other financial institutions in managing their regulatory responsibilities.

RegTech Intelligence holds the largest market share with regulatory intelligence specialists guiding the companies to admit several regulatory details; thereby educating them for keeping up a higher degree of regulatory knowledge. This does decrease the threat of non-compliance as things could be chosen post consulting these specialists. Digital transformation is another factor driving the RegTech market and the scenario is expected to remain unchanged even in the near future. On these grounds, the Hong Kong Monetary Authority is encouraging adoption of cloud-based RegTech solutions all over Asia as more advanced technology is capable of detecting high-risk connections; probably the fraudulent activities with mule account networks.

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Future Market Insights has entailed these facets with insights in its latest market study entitled ‘RegTech Market’. It has its team of analysts and consultants to execute using an eagle’s eye view in its primary, secondary, and tertiary modes of research.

 “With the need to provide regulatory technology for providing regulatory obligations superlatively, the global RegTech market is expected to grow on an irresistible note in the near future”, says an analyst from Future Market Insights.

Key Takeaways from RegTech Market

• North America holds the largest market share with the financial institutions of the US that are into immediate adoption of RegTech solutions for minimizing compliance costs by making use of ML, AI, Big Data, blockchain, and cloud computing.
• Europe holds the second-largest market share with FinTech companies raising considerable capital.
• The Asia-Pacific is expected to witness growth at the fastest rate in the RegTech market going forward, followed by LATAM and the MEA with growing awareness about RegTech.

Competitive Analysis

• MetricStream, in March 2020, did expand its presence all across the Asia-Pacific. The company would thus address Asian clients with GRC (Governance, Risk, and Compliance) products and solutions.
• BearingPoint RegTech, in June 2021, inked an agreement regarding acquiring Vizor Software. The two companies do follow an appropriate and strategic rationale as companies do complement each other with solution portfolios.
• GBG, in April 2022, did form Americas and Global units for consolidating biometrics acquisitions. The company completed the acquisition of Cloudcheck as well. The latter deals with selfie biometrics in New Zealand. Merging IDology and Acuant results in networks having 450 Million digital identities that could help in fighting against synthetic identity theft.
• ComplyAdvantage, in April 2022, released a novel Anti-Money Laundering Essentials Guide for start-ups. The guide came out of collaboration with ComplyLaunch to provide free access to ComplyAdvantage’s anti-money laundering and KYC solutions.
• Actico, in March 2022, entered into a partnership with Coinfirm for investigating and assessing the risks related to money laundering for the crypto transactions within ACTICO Compliance Suite.

Key Companies Covered

• IBM
• MetricStream Inc.
• Nice Ltd.
• Thomson Reuters
• Wolters Kluwer N.V.
• Actico Gmbh
• Acuant, Inc.
• Ascent
• Broadridge Financial Solutions, Inc.
• ComplyAdvantage
• Deloitte Touche Tohmatsu Limited
• FundApps

Market Segments Covered in RegTech Market Analysis

By Component:

• Solution
• Services

By Application:

• Anti-Money Laundering (AML) & Fraud Management
• Regulatory Intelligence
• Risk and Compliance Management
• Regulatory Reporting
• Identity Management

By Deployment Type:

• Cloud
• On-Premises

By End-User:

• RegTech in Banking
• RegTech in Insurance Companies
• RegTech in FinTech Firms
• RegTech in IT & Telecom
• RegTech in Public Sector
• RegTech in Energy & Utilities
• RegTech in Other End Users

By Enterprise Size:

• Large Enterprises
• Small & Medium Enterprises (SMEs)

By Region:

• North America Regtech Market
• Europe Regtech Market
• Asia Pacific Regtech Market
• Middle East and Africa Regtech Market
• Latin America Regtech Market

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What does the Report state?

• The research study is based on component (solution and services), by application (AML (anti-money laundering) & fraud management, regulatory intelligence, risk and compliance management, regulatory reporting, and identity management), by deployment type (cloud and on-premises), by end-user (RegTech in banking, RegTech in insurance companies, RegTech in Fintech firms, RegTech in IT & telecom, RegTech in public sector, RegTech in energy & utilities, and RegTech in the other end-users), and by enterprise size (SMEs and large enterprises).
• RegTech players through SaaS platforms are expected to drive the RegTech market in the near future.

Table of Content

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Summary of Statistics

    1.3. Key Market Characteristics & Attributes

    1.4. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Risks and Trends Assessment

    3.1. Risk Assessment

        3.1.1. COVID-19 Crisis and Impact on Regtech Demand

        3.1.2. COVID-19 Impact Benchmark with Previous Crisis

        3.1.3. Impact on Market Value (US$ Mn)

        3.1.4. Assessment by Key Countries

        3.1.5. Assessment by Key Market Segments

        3.1.6. Action Points and Recommendation for Suppliers

    3.2. Key Trends Impacting the Market

    3.3. Formulation and Product Development Trends

4. Market Background

    4.1. Regtech Market, by Key Countries

    4.2. Regtech Market Opportunity Assessment (US$ Mn)

        4.2.1. Total Available Market

        4.2.2. Serviceable Addressable Market

        4.2.3. Serviceable Obtainable Market

    4.3. Market Scenario Forecast

        4.3.1. Demand in Optimistic Scenario

        4.3.2. Demand in Likely Scenario

        4.3.3. Demand in Conservative Scenario

    4.4. Investment Feasibility Analysis

        4.4.1. Investment in Established Markets

            4.4.1.1. In Short Term

            4.4.1.2. In Long Term

        4.4.2. Investment in Emerging Markets

            4.4.2.1. In Short Term

            4.4.2.2. In Long Term

    4.5. Forecast Factors - Relevance & Impact

        4.5.1. Top Companies Historical Growth

        4.5.2. Growth in Automation, By Country

        4.5.3. Regtech Adoption Rate, By Country

    4.6. Market Dynamics

        4.6.1. Market Driving Factors and Impact Assessment

        4.6.2. Prominent Market Challenges and Impact Assessment

        4.6.3. Regtech Market Opportunities

        4.6.4. Prominent Trends in the Global Market & Their Impact Assessment

TOC continued…!

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