RegTech Global Market Report 2021: Implications and Growth of COVID-19


New York, December 03, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “RegTech Global Market Report 2021: COVID-19 Implications And Growth” – https://www.reportlinker.com/p06188082/? Utm_source = GNW
V., Compliance Solutions Strategies, Sysnet Global Solutions, Trulioo, ComplyAdvantage, Fenergo, IBM Corporation, Infrasoft Technologies, Jumio, London Stock Exchange Group plc, MetricStream Inc., NICE Actimize, RIMES Technologies Corporation and VERMEG.

The global RegTech market is expected to grow from $ 6.26 billion in 2020 to $ 7.90 billion in 2021 at a compound annual growth rate (CAGR) of 26.2%. The change in growth trend is mainly due to companies stabilizing production after meeting demand which increased exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $ 18.89 billion in 2020. 2025 at a CAGR of 24.4%.

The RegTech Marketplace is the sale of RegTech solutions and services by entities (organizations, independent traders, and partnerships) that are committed to providing regulatory processes within the financial industry through advanced technologies. is a collection of companies that employ cloud computing technology and software as a service (SaaS) to help businesses comply with regulations more efficiently and cost effectively.

The main functions of RegTech are regulatory oversight, monitoring and compliance.

The main types of RegTech components are solutions and services. RegTech services reduce threats such as cyber attacks, security breaches or money laundering by using regulatory transformations.

The different deployment modes include cloud, on-premises and are deployed in different sizes of organization such as large enterprises, small and medium enterprises (SMBs). It is used in risk and compliance management, identity management, regulatory reporting, anti-money laundering (AML) and fraud management, regulatory watch, and is implemented in several verticals such as banking, insurance companies, financial technology companies, IT and telecommunications, public sector, energy and utilities, others.

North America was the largest region of the regtech market in 2020. The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, North America, Asia Pacific, Western Europe, Eastern Europe, North America, North America. ‘South America, the Middle East and Africa.

The application of AI, ML and blockchain technologies has become a key trend in the RegTech market. Large companies operating in the RegTech industry are increasingly adopting AI, ML and blockchain technologies to automate processes such as data management analysis and due diligence.

For example, in January 2021, Darktrace, a UK-based cybersecurity company, released the fifth version of Autonomous Response Technology for General Accessibility, allowing businesses to benefit from the cloud while guarding against new cyber threats. Compliance with regulations, including GDPR, HIPAA, and DFS Cyber ​​Security Regulations, adds to the long list of issues that security professionals face.

In September 2019, Broadridge, a United States-based company that provides technology solutions, investor communications, data and analytics to the financial services industry, acquired FundsLibrary for an undisclosed amount. The acquisition of Broadridge would allow it to accelerate its pan-European regulation. digital communications and data platform, which would support the investment industry fund data, document and regulatory reporting lifecycle.

FundsLibrary is a UK-based digital platform for the asset management industry that supports regulatory reporting, paperwork and the fund data lifecycle.

The increasing number of fraudulent activities such as money laundering in the financial industry is expected to propel the growth of the RegTech market during the forecast period. Fraudulent activity such as money laundering has increased and as a result financial organizations need a more powerful RegTech framework that can help risk and compliance management teams successfully manage the deluge of regulatory compliance. ever growing and increasingly sophisticated violations.

For example, in 2019, IBM’s cognitive fraud prevention solution was designed to help anti-fraud groups quickly identify and adapt to emerging payment fraud threats. That same year, IBM was named Financial Crime Product of the Year, endorsing its cognitive approach. to fraud prevention in real time.

Thus, the increasing number of fraudulent activities increases the demand for the RegTech market.

Countries Covered in the Regtech Market Report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, United Kingdom United and the United States.
Read the full report: https://www.reportlinker.com/p06188082/?utm_source=GNW

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