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Regtech Market to Grow by USD 25.2 Billion from 2024 to 2028, Driven by Demand for Financial Crime Detection, AI to Shape Market Evolution – Technavio Report

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NEW YORK, Sept. 6, 2024 /PRNewswire/ — Report on how AI is driving market transformation- The global regtech market market size is estimated to grow by USD 25.19 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  25.89%  during the forecast period. Need for identifying financial crime is driving market growth, with a trend towards integration of ai with regtech. However, lack of skilled workforce  poses a challenge. Key market players include ACTICO GmbH, GB Group plc, Ascent Technologies Inc., Broadridge Financial Solutions Inc., ComplyAdvantage, Confluence Technologies Inc., Deloitte Touche Tohmatsu Ltd., Hummingbird RegTech Inc., Intrasoft Technologies, International Business Machines Corp., MetricStream Inc., Mitratech Holdings Inc., NICE Ltd., RIMES Technologies Corp., SAS Institute Inc., SymphonyAI Sensa LLC, Thomson Reuters Corp., Trulioo Information Services Inc., VERMEG Ltd Legal, and Wolters Kluwer NV.

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Regtech Market Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 25.89%

Market growth 2024-2028

USD 25198.3 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

21.48

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 33%

Key countries

US, China, UK, Canada, and France

Key companies profiled

ACTICO GmbH, GB Group plc, Ascent Technologies Inc., Broadridge Financial Solutions Inc., ComplyAdvantage, Confluence Technologies Inc., Deloitte Touche Tohmatsu Ltd., Hummingbird RegTech Inc., Intrasoft Technologies, International Business Machines Corp., MetricStream Inc., Mitratech Holdings Inc., NICE Ltd., RIMES Technologies Corp., SAS Institute Inc., SymphonyAI Sensa LLC, Thomson Reuters Corp., Trulioo Information Services Inc., VERMEG Ltd Legal, and Wolters Kluwer NV

Market Driver

RegTech, offered as Software-as-a-Service (SaaS), assists businesses in digitizing and swiftly complying with regulations and standards. The integration of Artificial Intelligence (AI) into RegTech enhances its capabilities. AI identifies patterns and similarities across diverse data sets, crucial for generating new insights. It processes multiple data sources, including behavior patterns and data from social media and stock markets, to uncover previously unnoticed correlations. AI-enabled RegTech benefits the Banking, Financial Services, and Insurance (BFSI) sector in three primary ways: 1) improved financial forecast models through stress testing and data-driven predictions, 2) automated monitoring and tracking of regulatory changes, and 3) enterprise email filtering using machine learning. Additionally, AI-RegTech aids in complex pattern matching and anomaly detection, leading to advanced fraud identification and prediction. Companies like ComplyAdvantage employ AI and machine learning to offer clients accurate financial crime risk assessments. The synergy of AI and RegTech is anticipated to boost the global RegTech market by providing superior RegTech solutions and driving growth during the forecast period. 

The regtech market is experiencing significant growth as organizations face increasing regulatory requirements and compliance obligations in various industries. Backers like Vertex Ventures are investing in regtech solutions to help businesses navigate the complex regulatory landscape. Changes in regulations bring new compliance processes, which can be a burden with risks of non-compliance leading to severe consequences such as data breaches, mishandling of personal information, and regulatory penalties. Regulatory compliance data is crucial for maintaining trust and avoiding legal liabilities. Technology trends like artificial intelligence, big data analytics, machine learning, blockchain, natural language processing, and cloud-based solutions are driving widespread adoption of regtech. Financial regulation areas like anti-money laundering and fraud are major applications, while healthcare is also adopting regtech for data security and regulatory compliance. 

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 Market Challenges

•         The global RegTech market in the BFSI sector faces a significant challenge due to the shortage of a skilled workforce with the necessary financial and technical expertise. Integrating RegTech solutions into financial organizations requires a workforce with a solid understanding of both the financial and IT sectors. Training this workforce in advanced technology domains like blockchain and cybersecurity can be costly and time-consuming. Moreover, competition among banks and financial institutions to hire the best IT talent further complicates matters. Consequently, despite the priority given to upgrading to automated RegTech technologies, the lack of a skilled workforce is expected to impede the growth of the global RegTech market in the BFSI sector during the forecast period. Implementing and managing RegTech solutions necessitate a combination of finance experience and a sound knowledge base in technologies such as AI, machine learning, and blockchain.

•         The Regtech market is transforming the banking industry by providing innovative solutions to manage risk, prevent fraudulent transactions, and combat financial crime. Money laundering and payment fraud risks are significant challenges for financial institutions, and Regtech offers software maintenance and expertise to meet these responsibilities. Monetary authorities demand digitization and data standardization for financial inclusion and regulatory compliance. Regtech deployment types include cloud computing services, offering flexible options like SaaS with fixed and variable costs. Regtech startups, such as Dot Compliance, drive product innovation through cutting-edge technologies, addressing the needs of regulated industries. Legislation and reporting formats demand data management, data quality, and security standards. Large corporations benefit from risk-reduction through Regtech’s operational methods, while investment in these startups continues to grow through extension funding rounds. Chatbots and data gathering streamline processes, ensuring a body of evidence for regulatory bodies. Regtech’s role in financial stability and innovation is crucial as it addresses the challenges of financial crime and digitization.

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Segment Overview 

This regtech market market report extensively covers market segmentation by  

Component 1.1 Solutions1.2 ServicesEnd-user 2.1 Large enterprises2.2 Small and medium enterprisesGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Solutions-  The RegTech market offers businesses a variety of software tools and platforms designed to address specific regulatory compliance challenges. Solutions in the market include risk and compliance management, regulatory reporting, identity verification and KYC, transaction monitoring, and data governance and privacy. Risk and compliance management solutions help businesses proactively manage and mitigate risks through features like risk assessment, policy management, and reporting. Regulatory reporting solutions automate the process of generating and submitting reports to regulatory authorities, ensuring accurate and timely submissions. Identity verification and KYC solutions verify identities and ensure compliance with AML regulations using biometrics, document verification, and data analytics. Transaction monitoring solutions employ advanced analytics and machine learning to detect suspicious activities and generate alerts for further investigation. Data governance and privacy solutions manage and protect sensitive data, providing tools for data classification, access controls, consent management, data retention, and data breach prevention. The RegTech market continues to grow as businesses seek efficient solutions to meet evolving regulatory challenges and protect against data breaches.

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Research Analysis

The Regtech market is a dynamic and innovative sector that focuses on leveraging technology to address regulatory requirements and enhance compliance operations in various industries. Artificial intelligence, big data analytics, machine learning, and blockchain are among the cutting-edge technologies driving Regtech solutions. Financial regulation, including anti-money laundering and fraud prevention, is a primary application of Regtech. The banking industry and financial institutions are major adopters, recognizing the need to mitigate payment fraud risks and ensure regulatory compliance. Regtech startups are leading product innovation, securing investment from backers, and extending funding rounds to drive growth. Digitization and software maintenance are essential responsibilities for Regtech companies to provide reliable and efficient services. Healthcare is also embracing Regtech to manage complex regulatory frameworks and improve patient care. Overall, Regtech’s role in addressing financial regulation and reducing fraudulent transactions is invaluable, making it a crucial component of the digital transformation in finance and beyond.

Market Research Overview

Regtech Market: Transforming Compliance Operations with Technology in Regulated Industries The Regtech market is revolutionizing regulatory requirements in various industries by leveraging advanced technologies such as artificial intelligence (AI), big data analytics, machine learning, natural language processing, and blockchain. These technologies enable effective risk management, fraud detection, and anti-money laundering (AML) in banking and finance, healthcare, and other regulated sectors. Regtech solutions offer on-premises and cloud-based alternatives, catering to large enterprises and startups alike. Cloud-based solutions, particularly SaaS, offer fixed costs and digital transformation benefits. Regtech startups, like Dot Compliance, are driving product innovation through investment rounds from backers such as Vertex Ventures. Regtech solutions address the regulatory landscape’s complexities and changes, reducing operational burdens and risks associated with non-compliance. They ensure data security, manage personal information responsibly, and adhere to security standards. Regtech’s role in financial inclusion, innovation, and financial stability is crucial, particularly in mitigating payment fraud risks and handling large volumes of data. Regtech solutions employ AI and machine learning to analyze data, identify patterns, and provide chatbot assistance. They also help with data gathering, standardization, and reporting formats. Regtech’s impact extends to risk-reduction, data quality, and regulatory compliance data management. In the banking industry, regtech solutions streamline AML processes, ensuring monetary authorities’ requirements are met while maintaining financial experts’ responsibilities. Regtech’s role in the regulatory technology landscape is vital for financial institutions, as it addresses the challenges of digitization, data management, and the evolving regulatory landscape. Regtech solutions offer significant benefits, including risk management, fraudulent transaction detection, and AML compliance. However, they require ongoing software maintenance and investment to stay updated with regulatory changes and technological advancements. In conclusion, the Regtech market plays a critical role in addressing the challenges of regulatory compliance, risk management, and data security in various industries. Its adoption is essential for organizations to navigate the complex regulatory landscape and maintain financial stability while ensuring regulatory compliance and reducing risks.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentSolutionsServicesEnd-userLarge EnterprisesSmall And Medium EnterprisesGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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China’s Long March: The Journey Goes On

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MACAO, Oct. 21, 2026 /PRNewswire/ — This is a report from Xinhua News Agency:

There is a chapter of history every Chinese child learns in school.

There is a poem that generations of Chinese people have learned by heart.

There is a song millions can sing from its very first notes.

In stories, in verses, in melodies, they all point to the same chapter of history: the Long March.

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SOURCE Xinhua News Agency

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Target Makes it Easier for Guests to Discover Stylish Holiday Gifts They Can’t Wait to Give

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Target is offering more than 8,000 new gifts, with more than half exclusive to the retailerMost new holiday items at Target are $20 or less, including thousands $5 and underNew AI-powered shopping experiences, daily deals and early Black Friday savings simplify gifting

MINNEAPOLIS, Oct 21, 2026 /PRNewswire/ — Target Corporation (NYSE: TGT) is putting gifting at the heart of the holidays, bringing guests more than 8,000 new stylish gifts they can’t wait to give. More than half of the new assortment is available only at Target, with thousands of gifts priced at $5 and under. New AI-powered shopping experiences, fresh ways to discover gifts and deals throughout the season will make it easier for guests to find something special for everyone on the list.

“This holiday season, guests will see and feel the changes we’ve been making across Target, bringing together the style, design and value they expect from us with an experience that makes shopping easier and more inspiring,” said Michael Fiddelke, chief executive officer, Target. “We know guests turn to Target for gifting, gathering and everything in between, and our team is ready to help busy families discover more joy in those moments throughout the season.”

Stylish gifts at an incredible value
As consumers continue to look for affordable ways to give gifts that feel special, Target is leaning into one of the season’s biggest trends: luxe-for-less gifting. This year’s assortment includes 100% cashmere (excluding functional trim) starting at $25, pajamas for all from $10, festive decor from $5, faux fur throws at $30, top toys from LEGO, Barbie and Nintendo, new and exclusive gifts from prestige, emerging and global beauty brands at Target Beauty Studio, nostalgic sweet treats and host gifts from Favorite Day and exclusive finds for sports and wellness fans, making it easy for guests to find gifts that feel elevated at every price point.

“Guests tell us they want to give gifts that are thoughtful and personal, while feeling good about what they’re spending,” said Cara Sylvester, executive vice president and chief merchandising officer, Target. “That’s why we’ve brought together the brands they love, exciting trends and unexpected finds they won’t see anywhere else — all at prices that make it easier to get that ‘I can’t wait to give this’ gift.”

More ways to discover the perfect gift
New this season, Ask Target, an AI-powered shopping assistant available in beta on Target.com and the Target app, helps guests find inspiration, narrow their choices and shop with confidence and ease. Additional AI-powered features and a digital holiday kids catalog offer more ways to discover gifts for everyone on the list.

Target’s new Academy of Giftology holiday marketing campaign, launching in November, will tackle familiar gifting dilemmas with playful inspiration to help guests gift it their all and find gifts they’ll be excited to give.

More ways to save, from the first gift to the last
Beginning Nov. 1, guests can shop a new Deal of the Day every day through Dec. 24, with a first-ever one-day preview of upcoming offers to help them plan ahead. Early Black Friday deals run Nov. 5–7, followed by new limited-time offers every weekend throughout the holiday season.

The joy of gift giving
Through Target’s partnership with St. Jude Children’s Research Hospital, guests can give a gift that helps give back with the Gigglescape St. Jude bear, with a donation tied to each purchase while supplies last.

About Target
Target Corporation (NYSE: TGT) brings together style, design and value to offer a distinct assortment and elevated shopping experience across more than 2,000 U.S. stores and online. Powered by more than 400,000 team members, Target serves millions of families each week and invests in the communities where they live and work to support growth and opportunity for all.

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SOURCE Target Corporation

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illumend CEO: Building a COI Tracker with AI Is Easy. Verifying Insurance Compliance Is Not.

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Kristen Nunery warns that homegrown Certificate of Insurance tracking tools can create a false sense of security when businesses mistake collecting insurance documents for verifying coverage and compliance

INDIANAPOLIS, Oct. 21, 2026 /PRNewswire/ — As general-purpose artificial intelligence (AI) makes it easier for businesses to build their own software, Kristen Nunery, founder and CEO of illumend, is warning construction and property management companies against a costly misconception: that building a Certificate of Insurance (COI) tracking system is the same as verifying that contractors and other third parties have the insurance coverage their contracts require.

In her new article, “You Can Build a COI Tracker with AI. That Doesn’t Mean You Should,” Nunery explains that general-purpose AI tools such as ChatGPT can help businesses create applications that collect certificates, track expiration dates, and automate reminders. But those capabilities address only part of the insurance compliance process. Determining whether coverage satisfies contractual requirements involves interpreting insurance documents, reviewing endorsements, identifying exclusions and resolving discrepancies that basic tracking software may overlook.

“AI has democratized the ability to build software. It hasn’t democratized the expertise to make the right insurance decision,” said Nunery, who has spent 16 years in insurance compliance. “If you don’t have a compliance process today, you’re not automating a process. You’re automating your best guess.”

Why a COI Tracker Is Not an Insurance Compliance Verification System

According to Nunery, the critical distinction is between tracking the existence and expiration of insurance documents and verifying whether the underlying coverage meets contractual obligations.

A homegrown COI tracker may confirm that a certificate is current, record policy limits, and flag missing documents. But a current certificate does not necessarily mean a contractor is adequately insured or compliant with an agreement’s terms.

For example, a subcontractor may submit a certificate showing sufficient general liability limits and additional insured status. Yet the underlying endorsement may be a CG 20 10 covering ongoing operations only, while the contract also requires completed-operations coverage under a CG 20 37 or equivalent endorsement. A basic tracker could mark the subcontractor as compliant despite the missing coverage.

“The tracker didn’t misread anything,” Nunery said. “It never had the contract requirement, the endorsement language, or the connection between the two.”

Other potential gaps include incorrectly named insured entities, missing endorsements, inadequate completed-operations coverage, and policy provisions that fail to satisfy contractual insurance requirements. Identifying these issues requires evaluating insurance evidence in context, not simply extracting data from a certificate.

Why Insurance Compliance Verification Requires Specialized Technology

Nunery argues that businesses seeking to move beyond basic COI tracking need technology designed specifically for insurance compliance verification, with insurance expertise embedded in how the system evaluates coverage.

Unlike homegrown tracking tools, specialized compliance platforms such as illumend compare insurance documents against established contractual requirements, examine supporting endorsements, identify coverage gaps, and explain findings that require attention.

This approach powers Lumie, illumend’s specialized AI-powered insurance compliance expert. Lumie reviews certificates and endorsements against established requirements, flags potential deficiencies and provides supporting evidence for its determinations, while allowing compliance professionals to review and resolve exceptions.

“AI should do more than flag a problem. It should show you what it found, which requirement it evaluated, and the evidence behind its assessment,” Nunery said. “Lumie applies insurance expertise at scale and creates a clear record of its findings, so teams can act on routine determinations efficiently and focus their attention on exceptions that need a closer look.”

Nunery’s perspective draws on her experience building myCOI, whose technology has reviewed more than 45 million insurance documents and identified more than 2 million coverage gaps before they became claims, according to company figures.

Build a COI Tracker or Buy a Compliance Platform? The Questions Businesses Should Ask

For organizations considering building their own COI software, Nunery recommends first determining whether they need a document-tracking application or a comprehensive insurance compliance verification system.

Basic tracking needs may be addressed with spreadsheets, conventional software, or applications built with general-purpose AI. But verifying compliance requires substantially more: translating contractual insurance requirements into rules, reviewing endorsements and policy evidence, identifying exceptions, documenting decisions, and maintaining an auditable compliance process.

Businesses must also consider who will keep insurance requirements current, validate the system’s determinations, investigate discrepancies, and maintain the records needed to support compliance decisions during claims or audits.

“Building the software happens once,” Nunery said. “Running a compliance system means keeping requirements, evidence, follow-ups, decisions and the audit trail current, every day it’s in use.”

To read Nunery’s full article, visit https://www.illumend.ai/evaluation-buying/build-vs-buy-coi-tracking-software-ai

About illumend
Founded in 2025, illumend™ is the AI-powered platform redefining how businesses manage third-party insurance compliance and risk. Backed by myCOI, the leader in third-party insurance compliance management with more than 16 years of expertise, illumend reimagines compliance by guiding every step of the process—from document review and expiration tracking to risk flagging, communication, and resolution—within one intuitive system. Built on myCOI’s institutional foundation—having processed more than 45 million documents, managed over 1.2 million agreements, cleared more than 750,000 third-party partners, and identified more than two million coverage gaps before claims—illumend brings this depth of compliance intelligence into an AI-native platform. At its core is Lumie, illumend’s conversational AI guide that reads complex insurance documents, flags issues in real time, and explains them in language anyone can act on. To learn more, visit https://www.illumend.ai.

Media contact:
Michael Tebo
Gabriel Marketing Group (for illumend)
Phone: 571-835-8775
Email: michaelt@gabrielmarketing.com

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SOURCE illumend

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