The number of data breaches, cyber-attacks, money laundering schemes, and embezzlement attempts that the financial services industry routinely faces continues to increase. As a result, financial authorities and regulators have stepp up regulation and creat new compliance initiatives to help address the issue. Likewise, and the way it streamlines compliance, many financial institutions would face a daunting task that would be prohibitively expensive and nearly impossible to manage on their own. The regtech industry acts as an intermiary between financial institutions and regulators, automating and simplifying compliance, thereby rucing costs for businesses.
Using artificial intelligence and automation
An protect consumers from theft, fraud and data Monaco Email List breaches. Growing Opportunities for the RegTech industry Annual market value estimat at US$ 100 million. The value is expect to grow substantially over the next decade, with some experts pricting that the annual market value could be around $100 million. So what’s driving this incrible growth, and what kind of opportunity does it present? Some of the major drivers for the growth of the regtech industry include an increase in fraudulent activities such as money laundering, an increase in cyber-attacks, and more government regulation. Because of this, the RegTech industry is rich in solutions and service opportunities.
Make inform decisions about its products and services
Industry that show some potential . Compliance WS Numbers Risk Management: Creating automat processes is nothing new for businesses, so why not automate the process of identifying, reviewing and monitoring your organization’s compliance risks and creating controls and mechanisms to comply with changing regulations? Regulatory Intelligence: Gathering Information about regulatory processes, requirements and policies is analyz to help companies better understand changing regulations and make decisions. Opportunities in all of these areas of the RegTech industry have the potential to become more personaliz, scalable and efficient with the help of artificial intelligence and machine learning.