Technology
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
Published
2 years agoon
By
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.
Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report
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
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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• 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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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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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.
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.
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
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.
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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PS Hogan highlights investments from Spring Economic Update 2026: Canada Strong for All to support Canada’s sport system
Published
1 hour agoon
May 2, 2026By
CALGARY, AB, May 2, 2026 /CNW/ – In Budget 2025, we outlined our plan to build Canada Strong. Since then, we have moved fast to build the major infrastructure, homes and industries that grow Canada’s economy and create lasting prosperity; empower Canadians with better careers and a more affordable life; and protect our communities, our borders and our way of life.
We delivered concrete savings for Canadians while supporting key national priorities and keeping investments focused on results. We are maintaining a strong fiscal position, with the Spring Economic Update 2026 showing that projected deficits are lower over the fiscal horizon and that we are on track to meet our fiscal anchors.
The Spring Economic Update 2026 is the next step in our plan to build Canada Strong for All. It provides a clear update on the strength of Canada’s economy, giving Canadians confidence in our plan. It delivers targeted relief to make life more affordable, support workers and accelerate the construction of homes and major infrastructure. It also strengthens Canada’s competitiveness and economic growth while investing in strong, safe communities across the country.
Today, Corey Hogan, Parliamentary Secretary to the Minister of Energy and Natural Resources and Member of Parliament for Calgary Confederation, met with athletes at Foothills Athletic Park to highlight key investments in sport from the Spring Economic Update to build stronger and safer communities.
The Government of Canada is investing $755 million to support and expand Canada’s sport system, which will help athletes safely train and perform at the highest levels. This will increase sport participation across the country by strengthening national sport organizations, infrastructure and local sport communities.
Canada’s new government is transforming our economy from reliance to resilience. The Spring Economic Update 2026 ensures all Canadians can participate in building Canada strong and share in its success. Other key measures include:
The Canada Strong Fund — Canada’s first national sovereign wealth fund. This will invest in key, strategic Canadian projects and companies. While Canadians will benefit from these nation building projects through jobs, economic growth and greater security, the government is determined to ensure that Canadians also have a stake in the projects themselves. That’s why a unique and important feature of the Canada Strong Fund will be its new retail investment product. This allows Canadians to receive financial returns as we build Canada strong together.Team Canada Strong — a new nationwide effort to recruit, train and hire 80,000 to 100,000 new skilled trade workers by 2030–31. This initiative creates new opportunities for Canadians and attracts the workers needed to build more homes and major projects at speed and at scale.Building Stronger Communities — by making communities safer, more connected and more resilient. We are building more homes, getting tougher on crime and fraud and funding essential infrastructure, including small craft harbours that sustain coastal communities and local jobs. We are also investing to build healthier, safer and stronger Indigenous communities.
Our new government is building a Canada that is not just strong, but good; not just prosperous, but fair. A Canada that is not just for some, most of the time, but for all, at all times. We’re building Canada strong, for all.
Quote
“The Spring Economic Update 2026 builds on the momentum of our budget, combining strategic investments with sustained fiscal discipline to keep building Canada Strong for All — delivering prosperity today and strengthening our economy for tomorrow. At this pivotal moment in Canada’s history, we’re charting a course through the fog of uncertainty and global headwinds with strength, determination and ambition — and building one strong Canadian economy, by Canadians, for Canadians.”
— The Honourable François-Philippe Champagne, Minister of Finance and National Revenue
“The Government of Canada is building Canada Strong by investing in what brings us together — our people, our communities and our athletes. By strengthening the foundation of Calgary and Canada’s sport system, we are building a resilient economy and strong communities for all.”
— Corey Hogan, Parliamentary Secretary to the Minister of Energy and Natural Resources and Member of Parliament for Calgary Confederation
Quick Facts
The Spring Economic Update 2026 proposes to provide $755 million over five years, starting in 2026–27, and $118 million ongoing to Canadian Heritage to support Canada’s sport system to: Host and compete with the best: $50 million over five years to bring more world-class sporting events to Canada. Funding will be tied to legacy-building projects that deliver lasting benefits well beyond the events themselves. Facilities built or upgraded for major events will continue to serve communities, support grassroots participation and strengthen local sport systems for years to come. Support our athletes in performing at the highest levels: $45 million over five years and $8 million ongoing to help our athletes train, compete and perform, including support for better mental health and funding that will be linked to robust safe sport measures and frameworks. These actions will strengthen the sport system and respond to some of the findings of the Final Report of the Future of Sport in Canada Commission while the government continues to consider all of its Calls to Action. Get more Canadians involved in sport: $660 million over five years and $110 million ongoing for National Sport Organisations, increasing funding that has remained largely unchanged since 2005, so that they can invest in a strong and safe sport system and grow participation among children and youth nationwide.
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SOURCE Natural Resources Canada
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POVADDO AND PROLEGIS ANNOUNCE STRATEGIC PARTNERSHIP TO EXPAND ACCESS TO PUBLIC POLICY PROFESSIONALS FOR OPINION RESEARCH
Published
3 hours agoon
May 2, 2026By
Partnership connects policy professionals using Prolegis’ modernized Congressional platform with Povaddo’s exclusive paid research panel, combining forces to serve the policymaking community
ST. LOUIS and WASHINGTON, May 2, 2026 /PRNewswire/ — Povaddo, a leading provider of public opinion and policy elite research, has announced a strategic partnership with Prolegis, a nonpartisan technology platform serving thousands of policy professionals in Congress and the advocacy community. The partnership will expand the reach of the Povaddo Panel—an exclusive network of nearly 5,000 public policy professionals worldwide—while providing Prolegis users new opportunities to contribute their expertise to policy research.
Prolegis provides nonpartisan technology solutions designed to modernize Congress. Built specifically for the policymaking community, the platform serves as a natural intersection where policy professionals and issue advocacy campaigns meet, making it an ideal environment for connecting researchers with the experts shaping public policy.
Beginning this month, users of the Prolegis platform will be invited to join the Povaddo Panel and become eligible to participate in research studies tailored specifically for public policy professionals.
“There is no shortage of so-called ‘expert network’ firms, but Povaddo is setting the standard when it comes to building the most rigorous and credible network of public policy professionals in the U.S. and beyond,” said William Stewart, President of Povaddo. “What makes Prolegis the right partner is the quality and relevance of their community—these are precisely the professionals our clients most want to hear from. Prolegis users are actively engaged in policy work daily, making them ideal participants for our research studies. This partnership will meaningfully accelerate our efforts.”
“Prolegis exists to serve the policy community with tools that make their work more effective,” said Jim Gianiny, CEO of Prolegis. “Partnering with Povaddo allows our users to contribute their expertise in a new way and take part in rigorous research that helps organizations better understand the policy landscape. It’s a natural extension of what our platform already does: connecting policy professionals with the resources and opportunities that matter to their work.”
Launched in 2018, the Povaddo Panel was built to meet growing demand for research insights from individuals who shape, influence, and analyze public policy as part of their daily work. Over the past eight years, the panel has grown to nearly 5,000 public policy professionals worldwide, including over 2,000 in the United States. Many panelists are former elected officials, including former Members of Congress.
This partnership is part of a broader period of momentum for Povaddo. The company recently announced it is launching a quarterly omnibus survey among public policy professionals in the United States and Europe.
“Companies and other organizations that want to understand what public policy professionals think—whether about their brand or an issue they are facing—now have a new way of doing that. Our new omnibus survey among public policy professionals fills an important need in the research services marketplace,” said Brooke Hayes, Executive Vice President of Povaddo, who oversees the Povaddo Panel and the firm’s new omnibus research service among public policy professionals.
Additionally, Povaddo recently released select findings from its survey of public policy professionals in the U.S. and Europe regarding their attitudes towards AI. In an era when political consensus is elusive, this study finds widespread agreement within policy communities on both sides of the Atlantic that government regulation of AI should be increased.
About Povaddo: Povaddo specializes in public opinion and policy elite research. Founded in 2009, Povaddo is recognized as a trusted advisor to top-tier organizations seeking to navigate complex issues management, strategic communications, corporate reputation, and business transformation challenges. Most of the firm’s clients sit within external affairs, corporate affairs, public affairs, government affairs, regulatory affairs, scientific affairs, corporate communications, business planning and strategy. For more information, please visit www.povaddo.com.
About Prolegis: Prolegis provides nonpartisan technology solutions designed to modernize Congress. Built specifically for the policymaking community, Prolegis delivers innovative solutions, efficient tools, and engaging content, all on one easy-to-use platform. The platform serves Congressional staff, think tank scholars, and public affairs professionals, creating a unique intersection where policy expertise and advocacy meet. For more information, please visit www.prolegis.com.
Media Inquiries: William Stewart, +1 (855) 768-2336, stewart@povaddo.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/povaddo-and-prolegis-announce-strategic-partnership-to-expand-access-to-public-policy-professionals-for-opinion-research-302760432.html
SOURCE POVADDO LLC
Technology
POVADDO AND PROLEGIS ANNOUNCE STRATEGIC PARTNERSHIP TO EXPAND ACCESS TO PUBLIC POLICY PROFESSIONALS FOR OPINION RESEARCH
Published
3 hours agoon
May 2, 2026By
Partnership connects policy professionals using Prolegis’ modernized Congressional platform with Povaddo’s exclusive paid research panel, combining forces to serve the policymaking community
ST. LOUIS and WASHINGTON, May 2, 2026 /PRNewswire/ — Povaddo, a leading provider of public opinion and policy elite research, has announced a strategic partnership with Prolegis, a nonpartisan technology platform serving thousands of policy professionals in Congress and the advocacy community. The partnership will expand the reach of the Povaddo Panel—an exclusive network of nearly 5,000 public policy professionals worldwide—while providing Prolegis users new opportunities to contribute their expertise to policy research.
Prolegis provides nonpartisan technology solutions designed to modernize Congress. Built specifically for the policymaking community, the platform serves as a natural intersection where policy professionals and issue advocacy campaigns meet, making it an ideal environment for connecting researchers with the experts shaping public policy.
Beginning this month, users of the Prolegis platform will be invited to join the Povaddo Panel and become eligible to participate in research studies tailored specifically for public policy professionals.
“There is no shortage of so-called ‘expert network’ firms, but Povaddo is setting the standard when it comes to building the most rigorous and credible network of public policy professionals in the U.S. and beyond,” said William Stewart, President of Povaddo. “What makes Prolegis the right partner is the quality and relevance of their community—these are precisely the professionals our clients most want to hear from. Prolegis users are actively engaged in policy work daily, making them ideal participants for our research studies. This partnership will meaningfully accelerate our efforts.”
“Prolegis exists to serve the policy community with tools that make their work more effective,” said Jim Gianiny, CEO of Prolegis. “Partnering with Povaddo allows our users to contribute their expertise in a new way and take part in rigorous research that helps organizations better understand the policy landscape. It’s a natural extension of what our platform already does: connecting policy professionals with the resources and opportunities that matter to their work.”
Launched in 2018, the Povaddo Panel was built to meet growing demand for research insights from individuals who shape, influence, and analyze public policy as part of their daily work. Over the past eight years, the panel has grown to nearly 5,000 public policy professionals worldwide, including over 2,000 in the United States. Many panelists are former elected officials, including former Members of Congress.
This partnership is part of a broader period of momentum for Povaddo. The company recently announced it is launching a quarterly omnibus survey among public policy professionals in the United States and Europe.
“Companies and other organizations that want to understand what public policy professionals think—whether about their brand or an issue they are facing—now have a new way of doing that. Our new omnibus survey among public policy professionals fills an important need in the research services marketplace,” said Brooke Hayes, Executive Vice President of Povaddo, who oversees the Povaddo Panel and the firm’s new omnibus research service among public policy professionals.
Additionally, Povaddo recently released select findings from its survey of public policy professionals in the U.S. and Europe regarding their attitudes towards AI. In an era when political consensus is elusive, this study finds widespread agreement within policy communities on both sides of the Atlantic that government regulation of AI should be increased.
About Povaddo: Povaddo specializes in public opinion and policy elite research. Founded in 2009, Povaddo is recognized as a trusted advisor to top-tier organizations seeking to navigate complex issues management, strategic communications, corporate reputation, and business transformation challenges. Most of the firm’s clients sit within external affairs, corporate affairs, public affairs, government affairs, regulatory affairs, scientific affairs, corporate communications, business planning and strategy. For more information, please visit www.povaddo.com.
About Prolegis: Prolegis provides nonpartisan technology solutions designed to modernize Congress. Built specifically for the policymaking community, Prolegis delivers innovative solutions, efficient tools, and engaging content, all on one easy-to-use platform. The platform serves Congressional staff, think tank scholars, and public affairs professionals, creating a unique intersection where policy expertise and advocacy meet. For more information, please visit www.prolegis.com.
Media Inquiries: William Stewart, +1 (855) 768-2336, stewart@povaddo.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/povaddo-and-prolegis-announce-strategic-partnership-to-expand-access-to-public-policy-professionals-for-opinion-research-302760432.html
SOURCE POVADDO LLC
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