Trends in RegTech: What innovators have to say on RegTech

The RegTech sector is growing rapidly and shows little signs of slowing down.

Research predicts that the RegTech market will reach a staggering US$28.33 billion in just four years, up from just US$5.46 billion in 2019. Tellingly, RegTech is expected to account for 50% of global compliance budgets by 2026.

Regulatory pressure is the catalyst fueling this rapid rise. Organizations have had to look for more innovative and efficient ways to meet their regulatory compliance obligations, and have turned to RegTech for the answers.

To examine the role new technology is playing in driving operational efficiencies and demonstration of regulatory compliance, Encompass asked several experts at the forefront of innovation to share on:

Why RegTech is relevant now
Where the industry is heading
Significant RegTech use cases
Key lessons for financial service organizations

Author: Alex Ford

Alex drives business growth in North America, working with customers, partners and the Encompass team to transform KYC with automation in financial institutions and other regulated entities. Joining in 2012, Alex has held Executive responsibility for business functions including Customer Success, Operations, Marketing, Product and Delivery. From 2015 to 2020 Alex was based in Glasgow with the launch and expansion of the UK operation, before taking up leadership of the North America business.