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Description
Regulatory Technology (RegTech) Market size was valued at USD 5.9 billion in 2021 and is poised to grow with a CAGR of 19.1% over 2022-2028. Rising need for quicker transactions, increasing implementation of sophisticated technologies, increased cost of compliance and growing acceptance of regulatory technology in financial services are some key factors fueling the market growth. However, factors such as regulatory divergence, lack of data standardization and cyber security & data privacy are hindering the market growth. Further, application of AI, ML, and block chain to offer new efficiencies for compliance provides huge growth opportunity for the market growth. This report studies global regulatory technology (RegTech) market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, this report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global regulatory technology (RegTech) market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global regulatory technology (RegTech) market report include suppliers, manufacturers, marketers, policy makers, and service providers engaged in global regulatory technology (RegTech) products. This market is growing due to strategic alliances by the key players for regulatory technology (RegTech) to meet the demands of the customers in the market. For instance, In March 2020, Accuity acquired Apply Financial, a digital payment solution provider, to offer real-time straight-through processing and account validation payment solutions. The new enhancements include new data offerings, improved management capabilities, and integration with third-party case management solutions. These additions would enable customers to create better operational efficiencies by lowering false positives and delivering highly accurate and ordered alert results.
