Chainalysis, ComplyAdvantage, Ascent, Hummingbird, Continuity, Trunomi, Forter, Ayasdi, IdentityMind, Sift Science, Elliptic, BehavioSec, Others
This report focuses on the Artificial Intelligence in RegTech Market outlook, future outlook, growth opportunities and core and core contacts. The purpose of the study is to present market developments in the US, Europe and other countries. It also analyzes industrial development trends and marketing channels. Industry analysis was conducted to investigate the impact of various factors and to understand the overall appeal of the industry.
The report has been accumulated through meticulous primary and secondary research, which encompasses interviews, inspections, and observations of experienced analysts, as well as proven paid sources, news articles, annual reports, trade journals, and company body databases. The study also presents a qualitative and quantitative evaluation by analyzing the data collected from industry professionals and
Palm Beach, FL – February 4, 2021 – Regulatory Technology (a.k.a. RegTech) is any technology that aims to standardize regulatory processes, create unambiguous interpretations of the regulations, and, most important automate the compliance process. RegTech is a sub-class of FinTech and has gained prominence since 2015. Rising penalties for non-compliance with regulations are anticipated to further fuel the growth. RegTech solutions with real-time compliance analysis help connect regulators and businesses while protecting the interests of consumers. The Institute of International Finance has defined RegTech as the use of new technologies to meet compliance and regulatory requirements more efficiently. RegTech involves the use of tools to enhance the stringency of regulations and minimize the compliance risks associated with the business. According to a study of the World Bank, a robust regulatory framework can help boost GDP growth by more than 2% annually. In addition to the ris
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The Global RegTech Market is estimated to be USD 6 Bn in 2020 and is expected to reach USD 13.4 Bn by 2025, growing at a CAGR of 17.5%.
Key factors promoting the growth of the market are the rising number of fraudulent activities such as money laundering taking place in the financial sector. This has required a need for risk and compliance management system, especially for large scale organizations. Besides, the adoption of Regulatory Technology (Reg Tech) software can also be effective in reducing compliance costs by speeding up the business processes and increasing the organization s overall efficiency.
Regulatory Technology (RegTech) Market 2021 Global Leading Drivers, Emerging Audience, COVID – 19 Outbreak, Segments, Industry Profits Growth and Reg
Australian Small Business and Family Enterprise Ombudsman Kate Carnell.
Small Business and Family Enterprise Ombudsman Kate Carnell has weighed in on the debate around the research & development tax incentive (RDTI), calling for a new, industry-specific scheme for businesses focused on software.
In a submission to the Select Committee on Financial Technology and Regulatory Technology in December, Carnell noted the RDTI “in its current form is unsuitable for software development”.
Indeed, businesses that used the incentive for software research have in the past been ordered to repay funds received under the scheme.
Either eligibility requirements for software technology need to be changed, Carnell wrote, or a new software-specific initiative should be introduced.