Press Release

RegTech Solutions Market to Boom as FinTech Startups Rise Globally

The Global RegTech Solutions Market is set to record around 18.79% CAGR during 2023-28, cites MarkNtel Advisors in the recent research report. The world is witnessing an ever-increasing adoption of RegTech solutions, such as compliance management, risk mitigation, & fraud detection, etc., by corporate entities. The rapidly rising corporate crimes like money laundering & fraudulent transactions, which have mandated the use of effective compliance management among enterprises, are projected to drive the market in the future.

The constantly changing regulatory framework & compliance standards for industries, backed by the ever-evolving market conditions, have enabled the companies to take expert assistance in meeting those standards so that corporate entities can focus on their core operational work.

Moreover, the growth of financial technology startups is also boding well for the RegTech solutions market growth as these companies have to follow a number of regulatory frameworks, including risk mitigation, fraud detection, & compliance management, which requires. Hence, as the number of fintech startups rises across different regions worldwide, it will spur growth in the market over the coming years, further states the research report, “Global RegTech Solutions Market Analysis, 2023.”

BFSI Sector to Witness Increasing Adoptions of RegTech Solutions

The adoption of RegTech solutions is substantial in the BFSI sector, backed by the growing penetration of smartphones & the internet, which has led to the digitalization of the finance & banking sector and a massive surge in the number of online frauds. Hence, to curb these online financial crimes, the BFSI sector has to follow several regulatory & compliance management standards to ensure transparency & user authorization.

Further, as fintech start-ups are gaining traction, they have to follow various compliance management regulations associated with registration, user authentication, payment processing, taxation, and other legal obligations. Hence, they are increasingly adopting RegTech solutions, thereby promoting market growth across the BFSI sector.

North America to Witness Highest Adoption of RegTech Services

Based on the region, the market is divided into North America, South America, Europe, the Middle East & Africa, and Asia-Pacific. Among these regions, North America has the highest adoption of RegTech services as the region is the hub for large enterprises and big brands like Amazon, Google, Facebook, etc., which have to mandatorily follow industry regulations, risk mitigation, fraud detection norms as set by authorities.

North America is home to a large number of start-ups, which require expert assistance to follow regulatory standards so that they can focus upon their core operational activities. Further, the overall market ecosystem in the region is conducive to supporting the establishment of start-ups, i.e., another prominent aspect driving the North America RegTech Solutions Market.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Actico Gmbh, Broadbridge Financial Solutions, Inc., IBM Inc., Metric Stream, Oracle Corporation, Wolters Kluwer, Nice Ltd., Kiya ai., Chainalysis, Thomson Reuters, Compliance Solutions Strategies, Jumio Corporation, Symphony AI, Fenergo, Regnosys, etc. are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends that have shaped the industry to its current form?
3. What key factors would propel and impede the industry across the globe?
4. How has the industry been evolving in terms of geography & service adoption?
5. How has the competition shaped across various regions, followed by their comparative factorial indexing?
6. How have buying behavior, customer inclination, and expectations from service providers evolved during 2018-28?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?