RegTech is primarily a cloud-based or software-as-a-service (Saas)-based application, which is a transparent, consistent, and standardized way of providing higher quality and low cost solutions to the financial sector.
With the increasing cases of money laundering and terror funding, various new rules and regulations are being implemented by governments to maintain a safe environment, which can be made possible by using regulatory technology tools.
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The global RegTech market revenue is expected to reach $7,201.1 million by 2023, growing at a high CAGR during the forecast period.
Due to the increasing focus on data protection rules, they have to monitor transparency in money transactions, and strictly follow compliance rules laid down by the regulatory bodies, in order to avoid high penalties.
An exclusive coverage has been provided for market drivers and challenges & opportunities for a country-level market in the respective regional segments.
The report comprises a competitive analysis of the key players functioning in the market and covers in-depth data related to competitive landscape of the market and the recent strategies & products that will assist or affect the market in the near future.
OverviewThe global Regulatory Technology Industry is garnering fabulous growing accruals.
The market growth attributes to the growing acceptance of regulatory sandbox, focusing on financial regulations.
Moreover, the advantages that regulatory technology offers to enterprises in strengthening compliance and mitigating risks drive the market growth, providing well-informed decisions about regulatory adherence.
Moreover, stringent regulations and compliance by legal authorities boost the growth of the market.Regulatory Technology Industry - SegmentsThe report is segmented into four dynamics; By Application : Risk & Compliance Management, Regulatory Intelligence, Fraud Management, Regulatory Reporting, Identity Management, and others.
By Region : Americas, Europe, APAC, and the Rest-of-the-World.Complete Report Details @ https://www.marketresearchfuture.com/reports/computer-aided-design-market-8531 Global RegTech Market - Regional AnalysisNorth America dominates the global Regulatory Technology Industry.
The largest market share attributes to the presence of several notable players and technology development centers boosts market growth, allowing the early adoption of futuristic risk tracking technologies.
Overview The banks and financial institutions operate in a highly regulated environment and continuously face new regulations to prevent money laundering and restrict terrorist funding.
The annual spending of the financial institutions for non-compliance issues is more than $100 billion.
Market Revenue and Segmentation Analysis The global RegTech market revenue is estimated to be $2,321.5 million in 2018 and is expected to reach $7,207.6 million by 2023, growing at a CAGR of 25.4% during the forecast period 2018–2023.
The solutions include compliance management, reporting, identity management, and risk management.
The solutions help organizations in key compliance areas and risk aversion for AML, KYC, MiFID II, Basel III, PSD 2, Solvency II, and AIFMD.
With the major focus of governments across regions with GDPR guidelines, RegTech is expected to majorly impact the financial service organizations.
Regulatory Technology (RegTech) Market Research Report Information, —By Application (Risk & Compliance Management, Regulatory Intelligence, Fraud Management, Identity Management, Regulatory Reporting), Deployment – Global Forecast till 2027Market HighlightsAmong the various applications such as Risk & Compliance Management, Fraud Management, Regulatory Reporting, Identity Management, the regulatory intelligence segment is expected to grow at the highest CAGR during the forecast period.
This identification enables the financial institutions to cope with the varying regulatory environment easily and reduce the risk of non-compliance.
Moreover, the analytics offer financial institutions with insights which assists them with well informed decisions about regulatory adherence.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/7343Key PlayersThe key players in the global RegTech market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise.
Some of them are— Deloitte Touche Tohmatsu Limited (US), International Business Machines Corporation (US), London Stock Exchange Group plc.
(UK), NICE (Israel), PWC (UK), Thomson Reuters Corporation (US), Bwise (Netherland), Compliance Solutions Strategies (US), Lomabard Risk (UK), Infrasoft Technologies Ltd. (India), Abside Smart Financial Technologies SL (UK), Fintellix Solutions (India), OpusDatum Ltd. (UK), NetGuardians Inc. (Switzerland), Alto Advisory (Luxembourg).
The key strategies adopted by most of the players are partnerships and agreements, collaborations, and new product releases.Regional AnalysisThe global Regulatory Technology Market is expected to grow at a CAGR of 22.8% during the forecast period.
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