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The global regulatory technology (regtech) market generated US$8.2 billion last year, according to a new research report by Prophecy Market Insights (PMI). Growing at a compound annual growth rate of 8.2%, this market is expected to reach US$57.5 billion in 2032.
PMI disclosed these figures in its RegTech Markets, Trends, Analysis and Forecasts to 2032 report released Thursday.
Significant growth in the banking, financial services and insurance industries is one of the key factors positively impacting the market, along with the increasing trend of digitization around the world, the research firm said Thursday. I explained it in a press statement about the report. .
He added that the rise in fraudulent activity on the internet brings data and economic losses that contribute to the growth of the Regtech market.
RegTech uses several cutting edge technologies such as artificial intelligence, big data, cloud computing and machine learning to help businesses reach regulatory compliance more effectively, explained PMI. Did.
Watch this FMLS22 session on the 2023 regulations.
Cube, a regtech company specializing in regulatory intelligence, announced Wednesday that it has acquired The Hub, a provider of artificial intelligence solutions for the regtech industry. The deal, whose terms were not disclosed, is likely to be the first regtech deal of 2023, but the industry has recorded many collaborations in 2022.
In mid-December, London-based regtech firm TAINA secured an undisclosed amount from a returning investor to grow its platform “toward regulatory, regional and market segment expansion.” Returning investors are HSBC Asset Management, Deutsche Bank CVC and Anthemis. SIX Fintech Ventures, the venture capital arm of SIX, also participated in the new funding round.
In early April, Sentinels was acquired by Fenergo, a regtech company focused on customer verification and client lifecycle management processes. The following month, Dutch neobank Brand New Day also used his Sentinels’ services to tighten anti-money laundering controls. Also in May 2022, regtech company b.fine expanded its reporting coverage through a partnership with Point Nine.
The industry also recorded deals last year between low-code data management provider BroadPeak Partners and CoinRegTech, and between Cyprus-based broker Sheer Marekts and Muinmos, another regtech firm.
The global regulatory technology (regtech) market generated US$8.2 billion last year, according to a new research report by Prophecy Market Insights (PMI). Growing at a compound annual growth rate of 8.2%, this market is expected to reach US$57.5 billion in 2032.
PMI disclosed these figures in its RegTech Markets, Trends, Analysis and Forecasts to 2032 report released Thursday.
Significant growth in the banking, financial services and insurance industries is one of the key factors positively impacting the market, along with the increasing trend of digitization around the world, the research firm said Thursday. I explained it in a press statement about the report. .
He added that the rise in fraudulent activity on the internet brings data and economic losses that contribute to the growth of the Regtech market.
RegTech uses several cutting edge technologies such as artificial intelligence, big data, cloud computing and machine learning to help businesses reach regulatory compliance more effectively, explained PMI. Did.
Watch this FMLS22 session on the 2023 regulations.
Cube, a regtech company specializing in regulatory intelligence, announced Wednesday that it has acquired The Hub, a provider of artificial intelligence solutions for the regtech industry. The deal, whose terms were not disclosed, is likely to be the first regtech deal of 2023, but the industry has recorded many collaborations in 2022.
In mid-December, London-based regtech firm TAINA secured an undisclosed amount from a returning investor to grow its platform “toward regulatory, regional and market segment expansion.” Returning investors are HSBC Asset Management, Deutsche Bank CVC and Anthemis. SIX Fintech Ventures, the venture capital arm of SIX, also participated in the new funding round.
In early April, Sentinels was acquired by Fenergo, a regtech company focused on customer verification and client lifecycle management processes. The following month, Dutch neobank Brand New Day also used his Sentinels’ services to tighten anti-money laundering controls. Also in May 2022, regtech company b.fine expanded its reporting coverage through a partnership with Point Nine.
The industry also recorded deals last year between low-code data management provider BroadPeak Partners and CoinRegTech, and between Cyprus-based broker Sheer Marekts and Muinmos, another regtech firm.
