The Brazil market dominated the LAMEA RegTech Market by Country in 2023, and is forecast to continue being a dominant market till 2031; thereby, achieving a market value of $1.15 billion by 2031. The Argentina market is showcasing a CAGR of 24.9% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 23.6% during (2024 - 2031).
The capacity of RegTech solutions to adjust to evolving regulatory environments is one of their most noteworthy benefits. Regulations are not static; they evolve in response to emerging risks, technological advancements, and shifts in the geopolitical landscape. Traditional compliance approaches, which often rely on manual processes and legacy systems, struggle to keep pace with these changes.
The RegTech market is confronted with challenges also that must be fixed in order to fully realize its potential, despite the numerous benefits and advancements. One of the primary challenges is the integration of RegTech solutions with existing legacy systems. Many organizations still rely on outdated compliance infrastructures not designed to accommodate modern technologies. This integration challenge can hinder the seamless adoption of RegTech solutions and limit their effectiveness.
South Africa is exploring open banking initiatives, with a pilot program launched in 2022. RegTech solutions can be vital in managing data security and compliance within this evolving open banking landscape. South Africa is a growing hub for FinTech innovation. RegTech complements this growth by providing the necessary tools to ensure compliance and mitigate risks associated with new financial technologies. As these economies evolve, RegTech offers them a powerful tool to navigate regulatory landscapes and achieve their financial goals. Thus, the regional RegTech market is expected to grow rapidly throughout the forecast period.
List of Key Companies Profiled
- ACTICO GmbH
- Jumio Corporation
- MetricStream, Inc.
- NICE Ltd.
- Thomson Reuters Corporation (The Woodbridge Company)
- Wolters Kluwer N.V.
- IBM Corporation
- Deloitte Touche Tohmatsu Limited
- Broadridge Financial Solutions Inc.
- Trulioo, Inc.
Market Report Segmentation
By Component- Solution
- Services
- Professional
- Managed
- Risk & Compliance Management
- AML & Fraud Management
- Identity Management
- Regulatory Reporting
- Regulatory Intelligence
- Large Enterprises
- Small & Medium Enterprises (SMEs)
- Cloud
- On-premise
- Banking & Capital Markets
- Insurance
- Non-Financial
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Companies Mentioned
- ACTICO GmbH
- Jumio Corporation
- MetricStream, Inc.
- NICE Ltd.
- Thomson Reuters Corporation (The Woodbridge Company)
- Wolters Kluwer N.V.
- IBM Corporation
- Deloitte Touche Tohmatsu Limited
- Broadridge Financial Solutions Inc.
- Trulioo, Inc.
Methodology
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