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informationcommunicationtechno · 3 days ago

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RegTech Market 2032: Comprehensive Industry Report and Dynamics

RegTech Market size was valued at USD 13.6 billion in 2023 and is expected to grow to USD 88.13 billion by 2032 and grow at a CAGR of 23.1 % over the forecast period of 2024-2032.

The RegTech Market is evolving rapidly as organizations seek smarter, faster, and more efficient ways to manage regulatory compliance and risk management. Fueled by the growing complexity of global regulations and the rising demand for digital transformation, RegTech solutions offer automation, transparency, and accuracy that traditional compliance models cannot match. Businesses across financial services, healthcare, insurance, and beyond are increasingly adopting RegTech to enhance operational resilience and agility.

The RegTech Market is gaining significant momentum as companies recognize its ability to simplify compliance through cutting-edge technologies like artificial intelligence, blockchain, and machine learning. Instead of manually navigating a maze of regulatory demands, organizations can now leverage intelligent solutions to predict risks, automate audits, and ensure real-time monitoring. As the regulatory landscape becomes more fragmented and enforcement more aggressive, the market for RegTech solutions is no longer a luxury but a necessity.

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Market Keyplayers:

CUBE (Automated Regulatory Intelligence, RegPlatform)

Thomson Reuters (Regulatory Intelligence, CLEAR Compliance)

Hummingbird RegTech (Compliance Workflow Tools, Investigation Platform)

Ascent Technologies, Inc. (Compliance Confidence Scorecard, Regulatory Knowledge)

Fenergo (Client Lifecycle Management, Regulatory Rules Engine)

ComplyAdvantage (Transaction Monitoring, Risk Monitoring)

NICE Actimize (Surveillance, AML Solutions)

ClauseMatch (Policy Management, Compliance Workflow)

Trunomi (Data Rights Management, Consent Management)

Chainalysis (Cryptocurrency Transaction Monitoring, KYT – Know Your Transaction)

Market Analysis

The RegTech sector is undergoing dynamic growth driven by the need for faster compliance processes, risk management, and fraud prevention. Increasing scrutiny from regulatory authorities worldwide compels firms to adopt tools that not only ensure compliance but also offer competitive advantages through efficiency gains. Regulatory environments across financial services, healthcare, and data protection are especially catalyzing demand for agile, cloud-based, and AI-powered solutions that provide real-time insights and reporting capabilities.

Scope

RegTech’s reach extends beyond banking and financial institutions. Healthcare, insurance, legal services, energy, and even government agencies are tapping into RegTech platforms for a seamless, automated approach to meeting compliance standards. Its core offerings include anti-money laundering (AML) monitoring, identity verification (KYC/KYB), data protection compliance, risk assessment, transaction monitoring, and regulatory reporting. The technology’s flexibility allows integration with existing enterprise systems, making it a scalable solution for businesses of all sizes.

Market Forecast

As regulatory pressures tighten and digital ecosystems expand, the RegTech Market is poised for robust growth in the coming years. Adoption is expected to surge among mid-sized enterprises and startups, alongside large corporations, as modular, subscription-based models lower barriers to entry. Innovations in predictive analytics, real-time risk intelligence, and integrated compliance dashboards will shape the next wave of RegTech evolution, making it an indispensable pillar of enterprise infrastructure across industries.

Future Prospects

RegTech holds tremendous promise in revolutionizing governance, risk, and compliance (GRC) frameworks. Future advancements will likely focus on proactive compliance—predicting regulatory shifts before they occur. Furthermore, integration with decentralized finance (DeFi) platforms and blockchain-based smart contracts is expected to redefine regulatory reporting and auditing processes. Geographical expansion into emerging markets, where regulatory frameworks are tightening, presents another significant growth avenue.

Trends

AI-Driven Risk Monitoring: Real-time detection of anomalies and predictive compliance alerts are reshaping risk management.

Blockchain Adoption: Smart contracts and decentralized ledgers ensure greater transparency and auditability.

Regulatory Intelligence: Dynamic tools that track and analyze regulatory changes globally are gaining traction.

Cloud-Native Solutions: Cloud-based RegTech platforms offer scalability, speed, and remote access capabilities.

KYC Automation: Advanced biometric and AI technologies are simplifying customer onboarding and verification.

Integrated Compliance Ecosystems: One-stop platforms that unify AML, KYC, GDPR, and cybersecurity compliance are becoming the norm.

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Conclusion

The RegTech Market is no longer just about automating compliance; it's about enabling organizations to outpace regulatory changes, mitigate risks proactively, and unlock strategic advantages. By blending innovation with necessity, RegTech is set to redefine how industries approach governance, offering smarter, sharper, and faster paths to resilience and growth.

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#RegTech Market #RegTech Market Scope #RegTech Market Growth #RegTech Market Trends

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vaishnavisangle · 3 months ago

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sudeepkedar · 8 months ago

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Open Banking Market is Predicted to Grow At More Than 22% CAGR till 2032

Open Banking Market size is estimated to be valued at USD 130.2 Bn till 2032. The rising integration with digital currency platforms to enable seamless transactions between fiat currencies and cryptocurrencies will influence the industry growth. The implementation of robust security measures, such as encryption, multi-factor authentication, and real-time monitoring, has grown critical for protecting sensitive financial data in open banking. Of late, leading financial institutions and fintech firms are exploring subscription-based models for open banking services to offer premium features and value-added services through tiered pricing plans.

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Open banking market share from the digital currencies financial services segment is expected to exponentially expand between 2024 and 2032. By directly linking digital wallets to their banking systems, open banking streamlines the acceptance of digital currency payments by merchants. This integration lowers the hurdles for businesses eager to embrace cryptocurrencies. Furthermore, it enables connections with global financial institutions, simplifying cross-border transactions and allowing users to effortlessly send and receive payments in various currencies worldwide.

The on-premise deployment model segment is expected to account for considerable share of the open banking industry by 2032. Financial institutions using on-premise open banking solutions can fully control sensitive customer data. As concerns about data breaches and cyberattacks grow, numerous banks are opting to manage data in-house instead of depending on third-party cloud services. On-premise deployments further allow banks to customize their open banking infrastructure as per their specific needs. This flexibility is particularly important for large financial institutions with complex IT environments that require bespoke solutions.

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Asia Pacific open banking industry size is anticipated to reach a significant share by 2032. This is propelled by the surge in cross-border open banking services, particularly in areas, such as remittances and international payments. Countries like India, Indonesia, and Vietnam are witnessing a swift expansion of open banking. With a vast unbanked populace and a strong mobile presence, these nations present lucrative prospects for open banking solutions. The proliferation of digital payments in China and India will also influence regional market growth.

Partial chapters of report table of contents (TOC):

Chapter 1 Methodology & Scope

1.1 Market scope & definition

1.2 Research design

1.2.1 Research approach

1.2.2 Data collection methods

1.3 Base estimates & calculations

1.3.1 Base year calculation

1.3.2 Key trends for market estimation

1.4 Forecast model

1.5 Primary research and validation

1.5.1 Primary sources

1.5.2 Data mining sources

Chapter 2 Executive Summary

2.1 Industry 3600 synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis

3.2 Supplier landscape

3.2.1 API platforms and gateway providers

3.2.2 Security solutions providers

3.2.3 RegTech providers

3.2.4 End user

3.3 Profit margin analysis

3.4 Technology & innovation landscape

3.5 Patent analysis

3.6 Key news & initiatives

3.7 Regulatory landscape

3.8 Impact forces

3.8.1 Growth drivers

3.8.1.1 Increase in adoption of digital banking for convenience and accessibility

3.8.1.2 Technological advancements in big data analytics, artificial intelligence (AI), and APIs

3.8.1.3 Government initiatives and regulatory support to enhance financial transparency

3.8.1.4 Consumer demand for personalized services

3.8.2 Industry pitfalls & challenges

3.8.2.1 Security and privacy concerns

3.8.2.2 Lack of consumer trust and adoption

3.9 Growth potential analysis

3.10 Porter’s analysis

3.11 PESTEL analysis

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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marketmavenresearch · 11 months ago

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jessiealston · 1 year ago

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What is the Biggest Opportunity for Fintech?

Fintech, short for financial technology, has revolutionized the way we manage our finances, invest, and conduct transactions. With advancements in digital technology and changing consumer preferences, the fintech industry continues to expand, presenting numerous opportunities for innovation and growth. In this article, we will explore the biggest opportunity for fintech and delve into the factors driving its success.

Introduction to Fintech

Fintech encompasses a wide range of technologies and innovations aimed at improving financial services. From mobile payment solutions to blockchain-based cryptocurrencies, fintech has disrupted traditional banking and financial institutions. Its scope includes areas such as lending, insurance, wealth management, and regulatory technology (RegTech).

Current Landscape of Fintech

The fintech landscape is diverse, with established players like PayPal, Square, and Robinhood, alongside a multitude of startups and disruptors. These companies leverage technology to offer faster, more accessible, and cost-effective financial services. However, regulatory challenges, such as compliance with anti-money laundering (AML) and know-your-customer (KYC) regulations, remain a concern.

Identifying Opportunities in Fintech

To identify the biggest opportunity in fintech, we must look at market gaps and emerging trends. Consumers today demand seamless experiences, personalized services, and greater transparency. Therefore, areas like digital banking, robo-advisors, peer-to-peer lending, and sustainable finance present significant opportunities for innovation.

Biggest Opportunity for Fintech

Among the various opportunities in fintech, digital banking stands out as one of the most promising areas. With the rise of neo-banks and challenger banks, traditional banking models are being challenged. These digital-first banks offer features like real-time payments, budgeting tools, and round-the-clock customer support, appealing to tech-savvy consumers.

Furthermore, financial inclusion remains a pressing issue globally. Millions of people lack access to basic banking services, presenting an opportunity for fintech to bridge the gap. By leveraging mobile technology and alternative data sources, fintech companies can reach underserved populations and provide them with essential financial services.

Challenges and Risks

Despite the opportunities, the fintech industry faces several challenges and risks. Security concerns, such as data breaches and cyberattacks, pose a threat to consumer trust and confidence. Moreover, regulatory uncertainty and compliance requirements can hinder innovation and scalability for fintech startups.

Future Outlook

Looking ahead, the future of fintech appears promising. As technology continues to evolve, we can expect further disruptions and innovations in the financial industry. Collaboration between fintech companies, traditional banks, and regulatory bodies will be crucial in addressing challenges and unlocking new opportunities.

Conclusion

In conclusion, the biggest opportunity for fintech lies in digital banking and financial inclusion. By embracing technology and addressing consumer needs, fintech companies can revolutionize the way we manage money and access financial services. However, they must navigate challenges such as security risks and regulatory compliance to realize their full potential.

FAQs (Frequently Asked Questions)

What makes digital banking a significant opportunity in fintech?

Digital banking offers convenience, accessibility, and personalized experiences to consumers, driving its adoption and growth in the fintech industry.

How can fintech companies promote financial inclusion?

Fintech companies can leverage technology to reach underserved populations, provide them with affordable financial services, and empower them to participate in the formal economy.

What role do regulations play in the fintech industry?

Regulations ensure consumer protection, financial stability, and integrity in the financial system. Fintech companies must comply with regulatory requirements to operate legally and sustainably.

What are the risks associated with fintech?

Fintech faces risks such as cybersecurity threats, data privacy breaches, regulatory challenges, and market volatility. Companies must implement robust risk management strategies to mitigate these risks.

How will collaboration shape the future of fintech?

Collaboration between fintech companies, traditional banks, technology firms, and regulatory bodies will drive innovation, foster industry standards, and address complex challenges in the financial ecosystem.

#fintech #fintech projuct #fintech service #fintech technology

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chocolatethingwitch · 3 years ago

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digitrenndsamr · 3 years ago

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Regulatory Technology (RegTech) Solutions Market to Witness Exponential Growth by 2027

The global regulatory technology (RegTech) solutions market is anticipated to reach ~US$ 31 Bn by 2027. The regulatory technology (RegTech) solutions market is projected to expand at a CAGR of ~24% from 2019 to 2027 in terms of revenue. Growing demand to improve operational efficiency to manage regulatory compliances in banking, insurance, and healthcare sectors in recent years is expected to lead to the growth of the regulatory technology (RegTech) solutions market during the forecast period. Asia Pacific is projected to emerge as the leading regulatory technology (RegTech) solutions market, followed by North America during the forecast period.

Exponential Growth in Data Due to Rise in Online Transactions to Drive Global Market

Increasing demand for online payment modes in bank transactions, e-Commerce transactions, and individual money transactions creates different illegal routes for money laundering activity and creates a huge database of transactions, which is difficult to maintain manually by financial service companies. Banking and insurance service companies are facing a very complex and dynamic regulatory environment, with an average of 210 regulatory changes each day. Compliance teams face challenges to determine the relevance of these changes and how to comply with them. Hence, regulatory technology solutions help financial service companies to overcome these challenges. Regulatory technology solutions streamline and automate complex compliance activities, thus fuelling the growth of the regulatory technology (RegTech) solutions market.

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Regulatory Technology (RegTech) Solutions: Market Segmentation

The global regulatory technology (RegTech) solutions market has been segmented in terms of component, application, enterprise size, industry, and region. Based on component, the regulatory technology (RegTech) solutions market has been classified into software and services. Software segment dominated the global regulatory technology (RegTech) solutions market in 2018 and is expected to maintain its dominance during the forecast period. The software segment has been sub-classified into cloud and on-premise. The services segment has been sub-classified into training & implementation, support & maintenance, and consulting & integration.

Based on application, the regulatory technology (RegTech) solutions market has been categorized into compliance management, risk management, identity management & control, reporting & data analytics, and information and asset management. Based on enterprise size, the market has been categorized into small & medium enterprise and large enterprise. Based on industry, the market has been categorized into banking, insurance, healthcare, transportation & logistics, industrial & manufacturing, IT & telecom, professional services, government & defense, and others. The banking segment has been sub-classified into retail banking, wholesale/corporate banking, investment banking, and private banking. The insurance segment has been sub-classified into life & pension, property & casualty, health, and reinsurance. Others industry segment covered in the scope of study includes food & beverages, retail, energy & utilities, education, media, etc. The banking industry is expected to account for the leading share of the global regulatory technology (RegTech) solutions market. The sector is expected to continue its dominance in the coming years, as it is realizing the urgent need to manage day to day changes of regulatory compliances.

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Regulatory Technology (RegTech) Solutions Market: Regional Outlook

In terms of region, the global regulatory technology (RegTech) solutions market has been segmented into North America, Europe, Asia Pacific, and Rest of the World. North America is expected to dominate the regulatory technology (RegTech) solutions market during the forecast period. This trend is attributable to the strong presence of regulatory technology (RegTech) solution vendors in the regional market. The U.S. is expected to lead the North America regulatory technology (RegTech) solutions market due to a higher acceptance of regulatory technology solutions by end users. The Regulatory technology (RegTech) solutions market in Asia Pacific is expected to expand at a higher CAGR over the forecast period. The market in Rest of the World is also projected to expand moderately over the forecast period.

The report provides in-depth segment analysis of the global regulatory technology (RegTech) solutions market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which holds growth opportunities or account for significant share has also been included as part of geographic analysis of the regulatory technology (RegTech) solutions market.

Regulatory Technology (RegTech) Solutions Market: Competition Dynamics

The research study includes profiles of leading companies operating in the global regulatory technology (RegTech) solutions market. Key players profiled in the report include Algorithmica, CheckRecipient Limited (Tessian), Cluster Seven Services Limited, Compliance Management.ai, ComplyAdvantage, CUBE Content Governance Global Limited, Promapp Solutions Ltd., Compliance Solutions Strategies (Silverfinch), DGS DATA GOVERNANCE SYSTEMS LLC, CXi Software Pty Ltd., Fortia Financial Solutions, Kompli-Holdings PLC, Gecko Operating Ltd., IdentityMind Global, Corlytics Ltd., Ayasdi AI LLC, Ascent Technologies, Inc., Mitek Systems, Inc., and BearingPoint Holding BV.

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Global Regulatory Technology (RegTech) Solutions Market: Segmentation

Regulatory Technology (RegTech) Solutions Market, by Component

Software

On-premise

Cloud

Services

Training & Implementation

Support & Maintenance

Consulting & Integration

Regulatory Technology (RegTech) Solutions Market, by Application

Compliance Management

Risk Management

Identity Management & Control

Reporting & Data Analytics

Information & Asset Management

Regulatory Technology (RegTech) Solutions Market, by Enterprise Size

Small & Medium Enterprise

Large Enterprise

Regulatory Technology (RegTech) Solutions Market, by Industry

Banking

Retail Banking

Wholesale/Corporate Banking

Investment Banking

Private Banking

Insurance

Life & Pension

Property & Casualty

Health

Reinsurance

Healthcare

Transportation & Logistics

Industrial & Manufacturing

IT & Telecom

Professional Services

Government & Defense

Others (Food & Beverages, Retail, Energy & Utilities, Education, Media)

Regulatory Technology (RegTech) Solutions Market, by Region

North America

Europe

Asia Pacific

Rest of the World

TMR Latest News Publication:

Control Room Solutions Market - Digitalization has changed the course of the operation in terms of patrolling and keeping a check in a specific area for any untoward incidents. Earlier, keeping a check on a large area was tedious and a challenging work for the government bodies of numerous countries. As technology advanced, the influence of digitalization also expanded exponentially. Various new technologies opened new avenues for the surveillance of areas.

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linhgd9 · 4 years ago

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Regulatory Technology (RegTech) Market Summary, Value Structure Analysis, Growth Opportunities And Forecast To 2025

Regulatory Technology (RegTech) Market includes Overview, classification, industry value, price, cost and gross profit. It also covers types, enterprises and applications. To start with, analytical view to complete information of Regulatory Technology (RegTech) market. It offers market view by regions with countries, development in Regulatory Technology (RegTech) industry, opportunity with challenges, sales strategies, growth strategies and revenue analysis to include price.

Regulatory technology, also known as a “RegTech” is a new field within the financial services industry that utilizes information technology to enhance regulatory processes. It puts a particular emphasis on regulatory monitoring, reporting and compliance and is thus benefiting the finance industry. The objective of RegTech is to enhance transparency as well as consistency and to standardize regulatory processes, to deliver sound interpretations of ambiguous regulations and thus to provide higher levels of quality at lower cost. Oftentimes RegTech companies utilize the cloud through software-as-a-service.

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Regulatory Technology (RegTech) Market report helps to analyses competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Regulatory Technology (RegTech) Market Summary, Value Structure Analysis, Growth Opportunities And Forecast To 2025.

Top global Regulatory technology manufacturers covered in this report: 1. Bearingpoint 2. MetricStream 3. NICE Actimize 4. Broadridge 5. Traiana 6. Finastra 7. Targens GmbH 8. Acin 9. Fenergo 10. Accuity 11. Lombard Risk 12. Agreement Express 13. Exiger (DDIQ)

Market Segment by Type, covers Risk Management Identity Management & Control Compliance Regulatory Reporting Transaction Monitoring

Regulatory Technology (RegTech) Market Segment by Applications, can be divided into Small and Medium-sized Enterprises (SMEs) Large Enterprises

Market Segment by Regions, regional analysis covers ● North America (United States, Canada and Mexico) ● Europe (Germany, UK, France, Italy, Russia, Spain and Benelux) ● Asia Pacific (China, Japan, India, Southeast Asia and Australia) ● Latin America (Brazil, Argentina and Colombia) ● Middle East and Africa

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Table of Contents: Regulatory Technology (RegTech) Market

Chapter 1, to describe Regulatory Technology (RegTech) product scope, market overview, Regulatory Technology (RegTech) market opportunities, market driving force and market risks.

Chapter 2, to profile the top manufacturers of Regulatory Technology (RegTech) market, with price, sales, revenue and global market share of Regulatory Technology (RegTech) in 2019 and 2026.

Chapter 3, the Regulatory Technology (RegTech) competitive situation, sales, revenue and global Regulatory Technology (RegTech) market share of top manufacturers are analyzed emphatically by landscape contrast.

Chapter 4, the Regulatory Technology (RegTech) market breakdown data are shown at the regional level, to show the sales, revenue and growth by regions, from 2019 to 2026.

Chapter 5, 6, 7, 8 and 9, to break the sales data at the country level, with sales, revenue and Regulatory Technology (RegTech) market share for key countries in the world, from 2019 to 2026.

Chapter 10 and 11, to segment the sales by type and application, with sales Regulatory Technology (RegTech) market share and growth rate by type, application, from 2019 to 2026. Chapter 12, Regulatory Technology (RegTech) market forecast, by regions, type and application, with sales and revenue, from 2020 to 2026.

Chapter 13, 14 and 15, to describe Regulatory Technology (RegTech) market sales channel, distributors, customers, research findings and conclusion, appendix and data source

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themediabulletin · 4 years ago

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IMPORTANT ROLE OF FINTECH INNOVATION DURING COVID-19

Although companies forming the finance sector have shown resilience dealing with the COVID-19 situation, there is no discounting the stress they face regarding the sustainability of operations. With a higher number of borrowers opting for deferrals and seeking interest rate cuts to remain afloat, keeping costs in check has become somewhat of a priority for lenders, rather than seeking new opportunities in the market.

Without the support of traditional funding sources, newly-established companies are finding it difficult to manage finances entirely. In a frantic attempt to facilitate survival amid the seemingly never-ceasing chaos, concentration on innovation could be the right answer. Given the social distancing protocols and general restrictions in place, some have recognized opportunities through Fintech innovation. In contrast, others have turned to hasty decisions and cutting expenses without worrying about revenue and lead generation.

The Important Role of Fintech Innovation during COVID-19:

Application and Significance

1. Responding to market fluctuations

The COVID-19 impact and its challenges have indeed prompted various responses from companies, especially Fintechs. This reaction has depended upon their overall financial circumstances, business scale, and propensity for innovation. Acknowledging the important role of Fintech Innovation during COVID-19 is vital. The sudden shift in work-place practices and the necessity for remote working require digital solutions that assist business processes and prompt substantial development in the future. Moreover, the assessment of financial and capital market instruments does require modern analytical and prediction tools.

2. New Growth Opportunities for Fintech Companies

During these unexpected circumstances, Fintechs have provided crucial support to customers by updating some of their policies. Service fees on digital transactions have been reduced or waived. Fintech companies have also introduced free access memberships. For instance, Nomo has decided to offer this facility to its new customers. Fintech partnerships with financial institutions, e-commerce firms, and SMEs will present new expansion opportunities as well.

Right from checking eligibility for loans to final loan disbursements, Fintechs have encouraged contactless services and virtual transactions. The end-to-end digitized processes have complemented business needs and also ensured compliance with safe distance norms. Fintechs have been actively engaging in lending functions during the COVID-19 Financial crisis. By collaborating with financing institutes and regulators,

1. Fintechs have opened-up avenues for access to affordable and timely financing solutions to individuals and businesses. By facilitating financing inclusion, they have been instrumental in ensuring the survival of small businesses when traditional financing institutes have been somewhat conservative with lending. Paypal and Intuit have been approved to participate in the US government’s emergency lending program to provide relief for small businesses. The Intuit Aid Assist offers adequate information on relief problems and their applicability to companies.

2. For underserved markets, timely financing has been an issue, leading to cash flow crunch and sustenance issues. Even though governments have planned capital infusion for SMEs, Fintechs have played a crucial role in deploying funds on time. Trade Ledger™, Wiserfunding, Nimbla, and NorthRow have developed an entirely virtual lending operation using their joint expertise, innovation, and experts’ insights. As part of a new fintech task force, a turnkey origination and underwriting platform will streamline the lending process for banks, alternate lenders, and private debt lenders.

3. Dealing with the economic and political uncertainties on a global scale

As experts compare the COVID-19 Financial Crisis with the 2008 situation, the role of innovation will become more evident going forward. Economies have been struggling to regroup and restart businesses on a regular scale, for which Fintech innovation assures practical solutions. With the influx of Artificial Intelligence, IoT, cloud computing, distributed ledger technologies, etc. into business practices, constant transformation across finance industry activities promise functional tools to deal with the COVID-19 impact.

In developing economies and those dependent on SMEs’ performance, financing and risk assessment solutions being accessible will provide a considerably broader scope to combat the economic slowdown. Fintech solutions will offer the most useful and suitable technology solutions for a variety of applications. No doubt, there are regulatory hindrances and cybersecurity risks to consider depending on the region. Still, the use of fintech solutions related to a decentralized network and cloud computing will increase substantially.

It is essential to understand how the underlying economic weaknesses can impact a business. Changes in the geopolitical environment threaten to affect global supply chains, eCommerce businesses, and export-import trading practices. Protectionist views of governments have been on the rise, fuelled by the COVID-19 impact. Regional conflicts, policy decisions, and anti-trust rulings will prompt Fintech companies to seek alternate measures, strategic partnerships, and joint venture agreements for more functionality.

4. Fintech Innovation is No Longer Optional; it has become Mandatory

These days, each aspect of a company is dependent on technology. Most decisions are research-based and data-driven, underlining the need for innovation to stand out from the crowd. P2P lending and Crowdfunding platforms, RegTech, InsurTech, and PropTech all rely on existing and emerging technologies’ efficiency and constancy. Investments in digital assets should depend on the actual functionality predicted, keeping in mind cost and time efficiency. Considering the important role of Fintech Innovation during COVID-19, digital-only banks, and open banking concepts are becoming highly popular.

5. Adopting Suitable Business Continuity Solutions as the Key for Future Success

Branches of Fintech have fared differently, depending on the individual market impact, demand for products and services, and investor sentiment. Although organizations do have contingency plans, the adverse effects of COVID-19 have gone beyond the usual expectations. Ongoing strategies, objectives, and business models should ideally be revisited. Decision-makers are expected to acknowledge the new opportunities and risks attached to tackle the unforeseen changes systematically.

6. Adapting to New Consumer Expectations

The impact of COVID-19 has not been limited in any way. The restrictions on movement have changed the way customers access their accounts, conduct transactions, and contact their financial service providers. Since restrictions apply to businesses and individuals, digital transactions are bound to increase when visits to branches and offices are fraught with health risks.

A study on The Global Impact of COVID-19 on Fintech Adoption shows that there has been an increase in the number of Finance App downloads during COVID-19.

Traditional and non-traditional financial institutions will need Fintech Innovation to deal with the change in the user trends and a substantial spike in customer inquiries. Creating seamless mobile banking services, introducing paperless KYC processes, and simplifying loan procedures have become highly valuable from a customers’ perspective. A customer-centric attitude will provide financial institutes with a platform to undertake critical decisions involving technology implementation.

In conclusion:

We can see that small to large businesses are pushing towards digitization, not only to survive in today’s climate but to prepare for growth in the post-COVID-19 world. New insights such as microcredit, digital microfinance, gig economy, and fintech integration with other sectors propose faster advancements. Innovation has always been the main reason for driving growth in the Fintech Industry. An innovative ecosystem is essential to identify new opportunities and create benchmark standards pushing companies towards success.

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technavio · 5 years ago

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RegTech Market Analysis with Impact of COVID-19 (2019-2023) | Increase in Financial Crimes to Boost Market Growth | Technavio

Technavio has been monitoring the RegTech market and it is poised to grow by USD 5.99 bn during 2019-2023, progressing at a CAGR of almost 21% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download the Latest Free Sample Report of 2020-2024

The market is moderately fragmented, and the degree of fragmentation will accelerate during the forecast period. Accuity Inc., ACTICO GmbH, Broadridge Financial Solutions Inc., Deloitte Touche Tohmatsu Ltd., IBM Corp., NICE Ltd., RIMES Technologies Corp., SAS Institute Inc., Thomson Reuters Corp., and Trulioo Information Services Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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Increase in financial crimes has been instrumental in driving the growth of the market.

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RegTech Market 2019-2023: Segmentation

RegTech Market is segmented as below:

End-user

Geographic Landscape

Large Enterprises

Small And Medium-sized Enterprises

APAC

Europe

MEA

North America

South America

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RegTech Market 2019-2023: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The regtech market report covers the following areas:

RegTech Market Size

RegTech Market Trends

RegTech Market Industry Analysis

This study identifies rising demand from the insurance sector as one of the prime reasons driving the RegTech market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Regulatory Technology (RegTech) Solutions Market Analysis & Forecast with 2020

Regulatory Technology (RegTech) Solutions Market: Introduction

The global regulatory technology (RegTech) solutions market is anticipated to reach ~US$ 31 Bn by 2027. The regulatory technology (RegTech) solutions market is projected to expand at a CAGR of ~24% from 2019 to 2027 in terms of revenue. Growing demand to improve operational efficiency to manage regulatory compliances in banking, insurance, and healthcare sectors in recent years is expected to lead to the growth of the regulatory technology (RegTech) solutions market during the forecast period. Asia Pacific is projected to emerge as the leading regulatory technology (RegTech) solutions market, followed by North America during the forecast period.

Exponential Growth in Data Due to Rise in Online Transactions to Drive Global Market

Increasing demand for online payment modes in bank transactions, e-Commerce transactions, and individual money transactions creates different illegal routes for money laundering activity and creates a huge database of transactions, which is difficult to maintain manually by financial service companies. Banking and insurance service companies are facing a very complex and dynamic regulatory environment, with an average of 210 regulatory changes each day. Compliance teams face challenges to determine the relevance of these changes and how to comply with them. Hence, regulatory technology solutions help financial service companies to overcome these challenges. Regulatory technology solutions streamline and automate complex compliance activities, thus fuelling the growth of the regulatory technology (RegTech) solutions market.

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