The global RegTech market is expected to grow at a CAGR of 22.8% during the forecast period
The BFSI institutions function in a stringent regulated environment and face new regulations to avert money laundering and curb terrorist funding. Banks spend a large amount of money on fines and penalties for non-compliance with regulations. The RegTech solution vendors assist financial institutions to conduct their business operations in compliance with various government regulations. The RegTech market has started evolving in the past few years and is expected to withness a significant growth rate in the upcoming years.
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The RegTech solutions strengthen compliance and mitigate risk in enterprises. The solutions reduce the fxed cost of compliance and increase effciency of business processes. Along with this, RegTech solutions provide valuable business insights, and provide customers with better and faster service. The enterprises use these solutions to drive new products and services, as well.
The major factors that contribute the market growth is the acceptance of regulatory sandbox and the growing focus on financial regulations. There are lower entry barriers for cloud based solutions in this market, which is an additional driving factor. The market is very dynamic due to acquisitions and mergers happening on a large scale. Few instance, Huawei Technologies acquired HexaTier in December 2016, Contego acquired Working Status in December 2016, ACA Compliance Group acquired Telavance in January 2017, and most recently, in 2018, Thomson Reuters acquired Integration Point.
Among the various applications, the regulatory intelligence segment is expected to grow at the highest CAGR during the forecast period. This is due to the greater need for identifying and interpreting regulatory changes. 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.
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The global RegTech market is segmented into application, deployment mode, organization size and region/country.
By application, the global RegTech is segmented into risk & compliance management, regulatory intelligence, fraud management, regulatory reporting, identity management.
By deployment, the global RegTech is segmented into on-premises and cloud.
By organization size, the global RegTech is segmented into small and medium-sized enterprises (SMEs) and large enterprises.
By region, the global RegTech market is segmented into North America, Europe, Asia-Pacific, and rest of the world.
The key players in the 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.
Apart from the top key players, various startups are a part of this market. These include CLAUSEMATCH LTD. (UK), Suade Labs (UK), Signzy (India), CUBE (UK), Onfido (UK), Trunomi (UK), ComplyAdvantage (UK), Elliptic (UK), and others. Many mergers and acquisitions are observed in the market, adding to the capabilities of the market leaders.
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The global market for RegTech is expected to grow at a CAGR of 22.8% during the forecast period. The geographical analysis of RegTech market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America).
Among the regions mentioned, North America is anticipated to have the largest market share during the forecast period. The US occupies nearly 80%-85% share in the region as most of the leading vendors are headquartered here with strong customer base. The market size of Europe is estimated to grow at the highest CAGR from 2018-2023, followed by APAC. Various startups are being setup in these regions and are giving a boost to their market share.
- Government Agencies
- RegTech Service/Solution Providers
- Financial Advisory/Consulting Firms
- System Integrators
- Research Institutes and Organizations
- Technology Standards Organizations
- Venture capitalist/angel investors
- Information security directors/managers
- Banks, insurers, financial services providers, central banks, and supervisory authorities
TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.3 Research Objectives
2.4 Markets Structure
3 Research Methodology
4 Market Dynamics
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LIST OF TABLES
Table 1 Global Regulatory Technology (RegTech) Market, By Region, 2018–2023
Table 2 North America: Global Regulatory Technology (RegTech) Market, By Country, 2018–2023
Table 3 Europe: Global Regulatory Technology (RegTech) Market, By Country, 2018–2023
Table 4 Asia-Pacific: Global Regulatory Technology (RegTech) Market, By Country, 2018–2023
Table 5 Rest Of The World: Global Regulatory Technology (RegTech) Market, By Country, 2018–2023
LIST OF FIGURES
FIGURE 1 Global Regulatory Technology (RegTech) Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Regulatory Technology (RegTech) Market
FIGURE 4 Value Chain/Supply Chain Of Global Regulatory Technology (RegTech) Market
FIGURE 5 Share Of Global Regulatory Technology (RegTech) Market In 2017, By Country (In %)
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