The new Regtech report provides in-depth analysis and evaluation of how next generation regulatory technology such as AI and blockchain are being developed into solutions that help industry leaders reach their regulatory compliance requirements; delivering critical insights on how regtech will grow over the forecast period, key vendors that are driving the evolution of the regulatory landscape and the future prospects for these companies in the regtech landscape. It provides an evaluation of the development of regtech across 60 different key countries of interest. The study also contains the Competitor Leaderboard; positioning 23 key vendors from regtech including vendors specialising in areas such as regulatory compliance, identity management, risk management, transaction monitoring and more.
The research delivers incisive analysis of the regtech market landscape, looking at the past and future of regtech alongside the current regulatory framework in 6 regions; featuring key pain points for the digital onboarding processes, an assessment on leading technologies such as AI and blockchain, and the key opportunities for vendors to seize. Furthermore, the research includes a segment analysis on 8 key industries in which regtech has managed to position itself successfully: finance, gaming, cybersecurity, retail, cryptocurrency, healthcare, government and insurance & wealth. Finally, the study also features a comprehensive forecast suite; encompassing regtech market growth and digital onboarding across two key segments:
- Banking Onboarding
- Property Onboarding
The research suite comprises:
- Market Trends & Strategies (PDF)
- Competitor Leaderboard (PDF)
- Data & Forecasts (PDF & Excel)
- 12 Months' Access to harvest Online Data Platform
Key Market Statistics
Market Size in 2023
- $83 bn
Market Size in 2028
- $207 bn
2023 to 2028 Market Growth
- 124%
Key Features
Market Dynamics: Insights into key trends and market expansion challenges within the development of regtech technological infrastructure. Assessment of how advanced technology such as machine learning and blockchain are being developed into solutions that help the financial industry achieve anti-money laundering regulations and combat fraudulent activities. Insight on the different digital onboarding methods and an assessment of their approaches.
Key Takeaways & Strategic Recommendations: Key opportunities for vendors highlighted across the regtech market landscape; making for an important read for key stakeholders.
Benchmark Industry Forecasts: 5-year forecasts for key metrics, including the total spend on regtech, as well as the number of new bank accounts opened using digital onboarding and the total time and cost savings from KYC checks carried out using AI, split by banking and property onboarding. The data is also split by our 8 key forecast regions and 60 countries:
North America:
- Canada, US
Latin America:
- Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, Uruguay
West Europe:
- Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, UK
Central & East Europe:
- Croatia, Czech Republic, Hungary, Poland, Romania, Russia, Turkey, Ukraine
Far East & China:
- China, Hong Kong, Japan, South Korea
Indian Subcontinent:
- Bangladesh, India, Nepal, Pakistan
Rest of Asia Pacific:
- Australia, Indonesia, Malaysia, New Zealand, Philippines, Singapore, Thailand, Vietnam
Africa & Middle East:
- Algeria, Egypt, Israel, Kenya, Kuwait, Nigeria, Qatar, Saudi Arabia, South Africa, United Arab Emirates
The Competitor Leaderboard: Key player capability and capacity assessment for 23 regtech vendors, via the The Competitor Leaderboard, featuring the following vendors:
- Ascent
- Behavox
- BigID
- Chainalysis
- ComplyAdvantage
- CyberGRX
- Drata
- Elliptic
- Encompass
- Feedzai
- Fenergo
- Hummingbird
- IDology
- Jumio
- Onfido
- Quantexa
- Sift
- Socure
- SymphonyAI Sensa
- Tessian
- Trulioo
- Trunomi
- Unit21
Key Questions Answered
- What will the global spend be on regulatory compliance by 2028?
- What are the applications of regtech?
- What frameworks and technologies need to be in place to support regtech market growth?
- Where are the biggest opportunities for vendors in the regtech market?
- Who are the leading vendors in the regtech market?
Executive Summary
Regtech spend will surge to $207 billion globally by 2028, with AI & machine learning unlocking efficiencies. Spend on regtech by financial institutions and other industries will increase by 124% between 2023 and 2028 globally, from $83 billion in 2023.Increasingly complex regulatory requirements are driving corporates to adopt a range of new technologies to facilitate compliance. New approaches include the use of shared blockchain ledgers to improve anti-money laundering and fraud compliance at cryptocurrency exchanges. Natural language processing is also used to detect malicious actors in emails and phone calls, successfully identifying misconduct, conflicts of interest and financial crime. With increased deployment of these technologies, we anticipate increasing levels of enterprise investment, as they recognise the vast efficiencies regtech can create.
The research found that the leading players offered streamlined identity verification automated by AI, and were able to successfully position themselves in many different industries, as regtech expands beyond just financial services. In order to stay ahead of their competition, vendors must develop solutions that utilise AI and machine learning, which can automate processes such as identity verification.
The most successful vendors will leverage AI to reduce the manual requirements needed by compliance teams and allow them to focus on tasks that require human elements, lowering costs and increasing productivity significantly, at a time of strong cost pressures.
Companies Mentioned
- Ascent
- BigID
- Behavox
- Chainalysis
- ComplyAdvantage
- CyberGRX
- Drata
- Elliptic
- Encompass
- Feedzai
- Fenergo
- Forter
- Hummingbird
- IDology
- Jumio
- Onfido
- Quantexa
- Sift
- Socure
- SymphonyAI Sensa
- Tessian
- Trulioo
- Unit21
- Acuant
- Adobe
- Affirm
- Airbnb
- Aite-Novarica Group
- Alkeon
- AlphaPoint
- Alsop Louie Partners
- American Express
- AMLbot
- Arm
- Asics
- ASOS
- Astorg
- AWS (Amazon Web Services)
- AYLIEN
- BambooHR
- Baringa
- Big Commerce
- Bitpanda
- Bitstamp
- BNY Mellon
- Brex
- Bridgepoint
- British Patient Capital
- Capital One
- Carahsoft Technology Corporation
- Card.com
- Cellebrite
- Chargeback
- Chime
- Coin
- Copper.co
- Cowboy Ventures
- CreditInfo
- crypto.com
- Deloitte
- Draft Kings
- Dun & Bradstreet
- Dwolla
- Elayaway
- Equifax
- Ernst & Young
- Etsy
- Evercore
- Evolve Bank & Trust
- Experian
- Fintech Amiqus
- Fireblocks
- Flourish Ventures
- Flutterwave
- Forrester Consulting
- FreedomPay
- Ganter Market Guide
- GGV Capital
- GIC
- Global Payments
- Halo Ai
- Helix
- Hello Fresh
- HelloFlow
- HSBC
- ICONIQ Growth
- ID Mission
- Infosecs
- Investec
- IXOPAY
- JPMorgan
- KeyBan Capital Markets
- Keyless
- LeapXpert
- LendUp
- LexisNexis
- Llyods Banking Group
- Lumon
- Mastercard
- McDonald’s
- Microsoft
- Middesk
- Mitek
- MK Decision Partners
- Morgan Stanley
- NEAR
- NextGate
- Nordstrom
- Notion
- Novo
- Nuvei
- O2
- Obopay
- Okta
- OpenTable
- Paytron
- PrimeTrust
- Pulumi
- PureFi
- RealPagem
- Remity
- ResistantAI
- Revolver
- Salesforce
- Santander
- ServiceNow
- Shieldpay
- Shopify
- ShortPoint
- Silicon Valley Bank
- Sionic
- SoFi
- Solidatus
- Stripe
- SVCI
- TeleSign
- Tempo France
- Tesco Bank
- The Access Group
- The Co-operative Bank
- Three
- TransUnion
- UK Finance
- University of Chicago
- Visa
- Vodafone
- Wells Fargo
- William Hockey
- Wix Merchants
- XBO.com
- X-Meta
- Zillow
