RegTech Market

Deloitte (US) and Wolters Kluwer (Netherlands) are leading players in RegTech Market

The RegTech market size is expected to grow from USD 4.3 billion in 2018 to USD 12.3 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 23.5% during the forecast period. The major factors driving the RegTech market include the increased cost of compliance, regulatory sandbox approach, and low entry barriers for SaaS-based offerings.

Deloitte is one of the giants in the RegTech market. The company provides the most advanced regulatory solution, PROACT. This solution helps digitize the regulatory change process of enterprises. PROACT accelerates regulatory assessments, supports regulatory change management activities, and provides greater control over processes. The company adopts inorganic growth strategies, such as partnerships, to enhance its business prospects. For instance. In November 2018, Deloitte partnered with Attest Inc, a Chicago-based identity management firm, to introduce advanced identity management solutions that are backed by the blockchain technology. In June 2017, Deloitte partnered with Appway, a Swiss-based global software company to launch the industry’s most innovative and advanced RegTech solutions.

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Wolters Kluwer is another top player in the RegTech market. The company offers a broad spectrum of solutions, services, and expertise in the RegTech market including its OneSumX and Lien Solutions. OneSumX provides solutions and services to control the interaction of governance, finance, risk, and compliance, which helps organizations improve profitability, efficiency, and growth. Lien Solutions helps financial institutions and lenders to reduce operational and credit risk and enhance profitability by offering comprehensive public record searches, lien filings, titling, and life-of-loan management. The company adopts inorganic growth strategies, such as acquisitions, to enhance its RegTech business. For instance, in April 2017, Wolters Kluwer acquired Tagetik, a provider of corporate performance management solutions, to set up Corporate Performance Solutions, a new business unit.

Related Reports:

RegTech Market by Application (Compliance & Risk Management, Identity Management, Regulatory Reporting, Fraud Management, Regulatory Intelligence), Organization Size (SMEs, Large Enterprises), and Region - Global Forecast to 2023

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Report Code
TC 6790
RI Published ON
12/6/2012
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