Enormous Demand of RegTech in Finance Market with Key Development by Top Players Abside Smart Financial Technologies, Accuity

Global RegTech in Finance Market Research Report:

RegTech is a blend of regulatory technology for addressing compliance and regulatory challenges faced by financial institutions through the means of technology. PegTech providers help customers ensure risk management protocols, meet compliance standards, control activities that mitigate risks, and curb compliance costs.
Boston Consulting Global’s Global Risk 2017: Staying the Course in Banking report observed that regulatory changes in financial service increased threefold from 2011 to 2018, averaging 200 changes per day. These changes have been creating challenges for financial institutions operating at a small level on account of the growing compliance costs. 

According to the Federal Reserve Bank of St. Louis, compliance costs account for approx. of 8.7% of the non-interest expenses of the banks that hold assets less than USD 100 million. However, when compared with large banks with operating assets ranging between USD 1 billion and USD 10 billion, these regulatory and compliance costs constitute only 2.9% of the non-interest expenses.

European banks are studied to be operating in a highly complex and competitive scenario with the implementation of regulations such as the Revised Markets in Financial Instruments Directive (MiFID II), Revised Payments Services Directive (PSD2), and the General Data Protection Regulation (GDPR), among others. These regulations tend to direct financial institutions towards regulatory compliance by means of adopting technologies such as RegTech.

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The Major Players Covered in this Report: Abside Smart Financial Technologies, Accuity, Actico, Alto Advisory, Broadridge, Compendor, Compliance Solutions Strategies (CSS), Deloitte, Eastnets, Fenergo, IBM, Infrasoft Technologies, Lombard Risk, London Stock Exchange Group (LSEG), Metricstream, Nasdaq Bwise, Nice Actimize, PWC, Rimes Technologies, Sai Global, Sysnet Global Solutions, and Wolters Kluwer, Start-Ups: Datarama, AUTHUDA, Kompany, Finform, RegDelta, Seal, QUMRAM, AiDa, and CHAINALYSIS ,, & More...

By Organization Size, Small & Medium (SME), Large,
By Application, Account verification, General compliance, Monitoring, Risk analysis, Regulatory analysis and training, Data capture and integration, Reporting,

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Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for RegTech in Finance in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global RegTech in Finance market during the forecast period 2021-2029. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of RegTech in Finance and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of RegTech in Finance. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

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Key Findings:
The RegTech market is expanding its footprint at an international level by means of hiring skilled staff in firms and gaining funding. For instance, global RegTech firms raised at approx. funding of USD 9.7 billion in 2018

Technologies other than artificial intelligence (AI) such as natural language processing and machine learning are all set to emerge significantly during the forecast period, 2020–2029

Collaborations between regulators, RegTech players, and end-user firms through new modes of partnerships foster the implementation of RegTech

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