RegTech market revenue is expected to reach $7,201.1 million by 2023, growing at a high CAGR during the forecast period
Regulatory Technology (RegTech) is used for regulating the processes in the financial industry, primarily for monitoring, reporting, and compiling of data, identity management, and risk management. RegTech is primarily a cloud-based or software-as-a-service (Saas)-based application, which is a transparent, consistent, and standardized way of providing higher quality and low cost solutions to the financial sector. It is attracting the interests of investors due its feature of developing innovative digital solutions.
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