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Source: Research and Markets

Global RegTech Market Forecast to 2023 - Application of Artificial Intelligence (AI), Machine Learning, and Blockchain to Offer New Efficiencies in Compliance

Dublin, Dec. 12, 2018 (GLOBE NEWSWIRE) -- The "RegTech Market by Application (Compliance & Risk Management, Identity Management, Regulatory Reporting, Fraud Management, Regulatory Intelligence), Organization Size (SMEs, Large Enterprises), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

"Increased cost of compliance is expected to drive the overall growth of the RegTech market."

The global RegTech market is expected to grow from USD 4.3 billion in 2018 to USD 12.3 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 23.5% during the forecast period.

The RegTech market growth is driven by various factors, such as the increased cost of compliance, regulatory sandbox approach, and low entry barrier for SaaS-based offerings. However, the regulatory divergence can hinder the growth of the RegTech market.

"The risk & compliance management application is expected to hold the largest market size."

Risk management has become a necessity for seamless business functioning. Taking timely inputs from incident and risk register; analyzing, identifying, monitoring, and controlling the risk; implementing risk impact analysis; and prioritizing the risks to enterprises are some of the major functionalities of risk management software. Enterprises with improper implementation of risk management programs are liable to risks such as paying large amounts in penalties for not conforming to regulatory requirements and reeling under financial crises due to mismanagement of financial controls or from natural calamities, such as earthquakes, fire, and flooding.

"The small and medium enterprises segment is expected to register the highest growth rate during the forecast period."

SMEs have comparatively lesser data to process and a fewer rules to comply with; thus, RegTech is less popular among SMEs. Overall, till the late 1990s and beginning of 2000, SMEs were not compelled to integrate regulation-based technology. They also did not have to redirect resources from everyday tasks to prepare for audits. SMEs were also not obliged to alter their approaches of functioning to comply with government mandates unlike publicly traded companies who have to document processes for regulations and have them confirmed by external auditors.

"Asia Pacific (APAC) RegTech market is expected to register the highest growth rate during the forecast period."

APAC is estimated to be the fastest growing RegTech market owing to the increase in the adoption of new technologies, high investments for digital transformation, rapid expansion of domestic enterprises, extensive development of infrastructure, and increasing GDP of countries. Rapidly growing economies, such as China, Japan, Singapore, and India, are implementing FinTech solutions in various business processes to provide effective solutions.

Key Topics Covered:

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Breakdown of Primaries
2.1.2 Key Industry Insights
2.2 Market Size Estimation
2.3 RegTech Market: Research Assumptions
2.4 Limitations

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in RegTech Market
4.2 RegTech Market in North America, By Application and Country
4.3 RegTech Market Growth in Major Countries

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increased Cost of Compliance
5.2.1.2 Regulatory Sandbox Approach
5.2.1.3 Lower Entry Barriers for Saas-Based Offerings
5.2.2 Restraints
5.2.2.1 Regulatory Divergence
5.2.3 Opportunities
5.2.3.1 Application of Artificial Intelligence (AI), Machine Learning, and Blockchain to Offer New Efficiencies in Compliance
5.2.4 Challenges
5.2.4.1 Cybersecurity and Privacy
5.2.4.2 Lack of Data Standardization
5.3 Industry Trends
5.3.1 Financial Acts and Regulations

6 RegTech Market, By Application
6.1 Introduction
6.2 Risk & Compliance Management
6.2.1 Increase in the Regulatory and Compliance Mandates to Drive the Risk & Compliance Management
6.3 Identity Management
6.3.1 Adoption of AI Technology for Secured Identity Verification
6.4 Regulatory Reporting
6.4.1 Increase in the Monitoring of the Audit Process
6.5 Fraud Management
6.5.1 Financial Institutions are Focusing More on Avoiding Financial Frauds
6.6 Regulatory Intelligence
6.6.1 Data Analytics is the Key Component in the Regulatory Intelligence

7 RegTech Market, By Organization Size
7.1 Introduction
7.2 Large Enterprises
7.2.1 High Complexities in Regulatory Adherence is Driving the Adoption of RegTech
7.3 SMEs
7.3.1 High Adoption of Technology is Driving the RegTech Growth

8 RegTech Market, By Region
8.1 Introduction
8.2 North America
8.2.1 US
8.2.1.1 High Compliance Cost is Driving the Demand for RegTech Solutions
8.2.2 Canada
8.2.2.1 Identity Management is A Major Focus Area for Regulators
8.3 Europe
8.3.1 United Kingdom
8.3.1.1 Brexit Impact Will Positively Impact the RegTech Landscape
8.3.2 Germany
8.3.2.1 High Funding Raised By Fintech Companies is Driving RegTech Developments
8.3.2.2 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.1.1 High Technological Spending Will Drive RegTech Adoption
8.4.2 Australia
8.4.2.1 Growing Number of RegTech Startups is Driving the Market Growth
8.4.3 Rest of Asia Pacific
8.5 Rest of the World
8.5.1 United Arab Emirates (UAE)
8.5.1.1 Kyc Adoption is Expected to Drive the Market
8.5.2 Brazil
8.5.2.1 Blockchain Adoption Will Drive the RegTech Market
8.5.3 South Africa
8.5.3.1 Kyc Compliance is A Major Focus Area for Financial Institutions in South Africa
8.5.4 Others

9 Competitive Landscape
9.1 Overview
9.2 Market Ranking Analysis for the RegTech Market
9.3 Competitive Scenario
9.3.1 New Product Launches
9.3.2 Agreements and Partnerships
9.3.3 Business Expansions
9.3.4 Mergers & Acquisitions

10 Company Profiles
10.1 Abside Smart Financial Technologies
10.2 Accuity
10.3 Actico
10.4 Alto Advisory
10.5 Broadridge
10.6 Compendor
10.7 Compliance Solutions Strategies (CSS)
10.8 Deloitte
10.9 Eastnets
10.10 Fenergo
10.11 IBM
10.12 Infrasoft Technologies
10.13 Jumio
10.14 Lombard Risk
10.15 London Stock Exchange Group (LSEG)
10.16 Metricstream
10.17 Nasdaq Bwise
10.18 Nice Actimize
10.19 PWC
10.20 Rimes Technologies
10.21 Sai Global
10.22 Sysnet Global Solutions
10.23 Thomson Reuters
10.24 Trulioo
10.25 Wolters Kluwer

For more information about this report visit https://www.researchandmarkets.com/research/mg9kpn/global_regtech?w=12

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