Regulatory compliance was perhaps not very significant a few years ago. In the recent past, there has been a massive change in the way enterprises approach regulatory compliance. The inability to adhere to regulatory compliance may lead to fines and reputational damage. Legal issues are also likely. Regtech is of critical importance here. Regtech has made compliance highly effective and efficient. RegTech is needed for entry into new countries and markets, licensing and meeting regulatory criteria. Regtech is also relevant for start-ups besides large enterprises.
The regtech sector is rapidly growing, and new technologies and trends are likely to alter the industry in the imminent years. While regtech provides many advantages, it also has several drawbacks that must be addressed. Over-reliance on technology is one of the most severe issues. The regtech industry requires a new approach. The enterprises extending similar solutions have been able to have a competitive edge over their peers. In this edition, you will learn about some of the enterprises extending industry-specific solutions.
The size of the global RegTech market, which was estimated to be worth USD 7.74 billion in 2022, is expected to increase to USD 53.37 billion by 2030.Increased demand for third-party cyber risk management is boosting the RegTech market’s expansion. The market is expanding due to greater focus on financial regulations, higher use of cutting-edge technology, and a rapid development in the level of cooperation between national regulators and financial institutions. In this edition, we present you a list of regtech solution providers extending proven solutions to the current regtech industry