Home Business NewsBusiness Regtech Spend to Surge to $207 Billion Globally by 2028

Regtech Spend to Surge to $207 Billion Globally by 2028

by LLB Editor
12th Jun 23 9:44 am

A new study from Juniper Research, the foremost experts in fintech, has found that 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 being 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 rising levels of enterprise investment, as they recognise the vast efficiencies regtech can create.

Regtech is a subset of fintech focusing on technology that can enable the delivery of regulatory requirements more efficiently and effectively than existing capabilities.

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