BASINGSTOKE, England, June 12 (Bernama-BUSINESS WIRE) — 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.
Complexity and Compliance
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.
