Trends in RegTech: What innovators have to say
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