Increasing demand for RegTech, owing to looming regulatory burden is one of the significant factors influencing the market growth.
Market Size – USD 5.32 billion in 2019, Market Growth - CAGR of 19.5%, Market Trends – Increased funding for RegTech in developing countries.
The global RegTech Market is expected to reach USD 21.73 Billion by 2027, according to a new report by Reports and Data. RegTech is beneficial in helping financial institutions in the management of regulatory processes within the financial industry through technology. Various challenges faced by financial institutions in risk management and RegTech, by way of digitization and automation, delivers an economical solution to resolve such challenges and comply with the regulatory standards. It assists financial institutions in the collection of data and automatic generation of reports in accordance with the format and schedule mandated by numerous regulatory bodies. Moreover, it reinforces the regulatory and supervisory capability of the regulators by making effective use of data in a unified format to supervise the rapid developments in the sector.
Increasing demand for RegTech, owing to looming regulatory burden, is a vital factor in driving the market growth. According to the study, the cost of compliance across all banks from 2014 to 2016 averaged approximately 7.0% of their noninterest expenses. This regulatory burden was much larger for smaller banks with assets below USD 100.0 million, and the cost of compliance averaged about 10.0%. In contrast, expenses for banks with assets of USD 1.00 billion to USD 10.0 billion averaged a little above 5.0%.
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Key findings in the report:
- By organization size, large enterprises contributed to a major market share in 2019. As the challenges faced by financial firms are anticipated to continue to get more complex, such organizations must have a long-standing, technology-driven platform to comply with regulatory compliance and end-to-end governance.
- By the deployment model, cloud-based deployment is likely to witness a faster growth rate of 22.3% in the forecast period. RegTech firms deploy cloud computing to deliver their solutions using a SaaS (software as a service) deployment model. These SaaS solutions help enterprises to comply with regulatory standards. Cloud computing decreases the cost for hardware and software, enabling data-storage more economical for RegTech companies.
- By application, risk & compliance management contributed to the largest market share in 2019 and is likely to grow at a rate of 19.4% in the forecast period. It helps in detecting the present state of compliance and forthcoming regulations. Also, it helps in mitigating regulatory risk, simplifying the governance, assessment of risk exposure, and anticipation of future threats.
- North America dominated the market in 2019 and is likely to grow at a rate of 18.7% in the forecast period. The market dominance of the region is attributed to an increase in fraudulent activities, increasing awareness about RegTech, and framing stringent regulatory policies, among others
- Key participants include Deloitte, ACTICO, IBM Corporation, Broadridge Financial Solutions, PWC, McAfee, London Stock Exchange Group, Thompson Reuters, Jumio, and NICE Actimize, among others.
- In October 2019, Confinale signed an agreement with RegTech firm ACTICO to implemented ACTICO's Compliance Suite for several banks in Germany and overseas. The partnership is a successful approach to applying bank compliance projects with high speed, quality, and security.
RegTech Market Size, Share & Growth, By Organization Size, By Deployment Model, By Application, And Segment Forecasts, 2017-2027, To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/regtech-market
For the purpose of this report, Reports and Data have segmented the global RegTech market on the basis of organization size, deployment model, application, and region:
Organization Size Outlook (Revenue, USD Million; 2017-2027)
- Small & Medium-Sized Enterprises
- Large Enterprises
Deployment Model Outlook (Revenue, USD Million; 2017-2027)
- On-Premise Deployment
- Cloud-Based Deployment
Application Outlook (Revenue, USD Million; 2017-2027)
- Risk & Compliance Management
- Identity Management
- Regulatory Reporting
- Fraud Management
- Regulatory Intelligence
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Regional Outlook (Revenue in USD Billion; 2017–2027)
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- France
- K.
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Egypt
- Rest of MEA
Table Of Content
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. RegTech Segmentation & Impact Analysis
4.1. RegTech Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
Continue …
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