Report ID: SQMIG40A2012
Report ID:
SQMIG40A2012 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
147 |
Figures:
72
Regtech Market size was valued at USD 13.1 Billion in 2023 and is poised to grow from USD 16.36 Billion in 2024 to USD 96.67 Billion by 2032, growing at a CAGR of 24.9% during the forecast period (2025-2032).
RegTech is gaining traction in the fintech industry this year as a result of an increase in cross-border money transactions and the growth of digital transfer platforms. Electronic payments are increasing the volume and complexity of data in financial transactions.
Another unintended consequence of the rise in electronic transfers is the emergence of more sophisticated digital financial crimes, with rapid e-commerce transactions providing vehicles for criminals to exploit and conceal money laundering and other unlawful financial operations. As a result of these factors, payment service providers and banks are under pressure to meet their compliance obligations and assist in distinguishing financial crime from ordinary operations.
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Report ID: SQMIG40A2012