The regtech refers to regulatory technology which utilizes information technology for enhancing the regulatory processes within the financial industry. A rise in digital products and services has led to increased incidents of data breaches, money laundering, cyber-attacks and similar fraudulent activities. Regtech helps in minimizing these activities in the financial institutions by making use of big data and machine learning technology.
The regtech market is anticipated to grow in the forecast period owing to driving factors such as increasing cost of compliance and low entry-barriers for SaaS-based offerings. The growing popularity of regulatory sandbox approach is further expected to fuel the growth of the regtech market during the forecast period. However, cybersecurity and data privacy remain significant challenges for this market. On the other hand, artificial intelligence is expected to foster growth opportunities for market players during the forecast period.
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Some Of The Leading Players In Global Market:
1.Abside Smart Financial Technologies
2.Actimize (NICE Ltd.)
3.Compliance Solutions Strategies
The “Global RegTech Market Analysis to 2027” is a specialized and in-depth study of the technology, media and telecommunications industry with a special focus on the global market trend analysis. The report aims to provide an overview of regtech market with detailed market segmentation by enterprise size, application and geography. The global regtech market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading regtech market players and offers key trends and opportunities in the market.
The global regtech market is segmented on the basis of enterprise size and application. Based on enterprise size, the market is segmented as SMEs and large enterprises. On the basis of the application, the market is segmented as identity management, regulatory reporting, risk & compliance management, fraud management and regulatory intelligence. The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global regtech market based on various segments. It also provides market size and forecast estimates from the year 2017 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The regtech market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
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