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Regtech Market Market , 33% of Growth to Originate from North America, Technavio

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NEW YORK, Dec. 15, 2024 /PRNewswire/ — The global regtech market market size is estimated to grow by USD 25.20 Billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 25.89% during the forecast period.

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Report Attribute

Details

Base Year

2023

Forecast period

2024-2028

Historic Data for

2018 – 2022

Segments Covered

Component (Solutions and Services), End-user (Large enterprises and Small and medium enterprises), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

 

Key Companies Covered

ACTICO GmbH, GB Group plc, Ascent Technologies Inc., Broadridge Financial Solutions Inc., ComplyAdvantage, Confluence Technologies Inc., Deloitte Touche Tohmatsu Ltd., Hummingbird RegTech Inc., Intrasoft Technologies, International Business Machines Corp., MetricStream Inc., Mitratech Holdings Inc., NICE Ltd., RIMES Technologies Corp., SAS Institute Inc., SymphonyAI Sensa LLC, Thomson Reuters Corp., Trulioo Information Services Inc., VERMEG Ltd Legal, and Wolters Kluwer NV

 

Regions Covered

North America, Europe, APAC, South America, and Middle East and Africa

Region Outlook

North AmericaEuropeAsiaRest of World

1. North America – North America is estimated to contribute 33%. To the growth of the global market. The Regtech Market Market report forecasts market growth by revenue at global, regional & country levels from 2017 to 2027. 

The North American RegTech market is expected to experience significant growth due to the region’s large and established financial sector. With the presence of major global investment banks like Goldman Sachs and JP Morgan, the BFSI sector in North America is one of the largest in the world. These financial institutions have extensive clienteles, creating a need for advanced regulatory technology solutions. The RegTech market in North America is poised to capitalize on this opportunity and grow substantially during the forecast period.

For more insights on North America’s significant contribution along with the market share of rest of the regions and countries – Download a FREE Sample

Segmentation Overview

Component 1.1 Solutions1.2 ServicesEnd-user 2.1 Large enterprises2.2 Small and medium enterprisesGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

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1.1 Fastest growing segment:

The RegTech market’s solutions segment offers businesses a variety of software tools and platforms designed to tackle specific regulatory compliance challenges. These solutions aim to simplify and automate compliance processes, enhance risk management, and ensure adherence to regulatory standards. Key solution areas within the global RegTech market include: 1. Risk and compliance management solutions: These solutions facilitate managing and mitigating risks by offering functionalities like risk assessment, policy management, compliance monitoring, and reporting. They enable businesses to proactively identify and address potential compliance issues. 2. Regulatory reporting solutions: These solutions automate the process of generating and submitting regulatory reports to regulatory bodies. They consolidate data from multiple sources, apply regulatory rules, and facilitate data validation and submission for accurate and timely reporting. 3. Identity verification and KYC solutions: These solutions help businesses verify the identities of individuals or entities to meet KYC requirements. They leverage technologies like biometrics, document verification, and data analytics for identity verification, risk assessment, and AML regulation compliance. 4. Transaction monitoring solutions: These solutions employ advanced analytics and machine learning algorithms to detect suspicious activities, potential fraud, or money laundering. They analyze transactional data, identify patterns, and generate alerts for further investigation and compliance reporting. 5. Data governance and privacy solutions: These solutions assist organizations in managing and safeguarding sensitive data in compliance with data protection and privacy regulations. They offer tools for data classification, access controls, consent management, data retention, and data breach prevention to ensure compliance with relevant data privacy laws. The RegTech solutions segment continues to advance as new regulatory challenges arise, and businesses seek innovative technologies to tackle compliance needs efficiently. The increasing complexity of regulations and the growing number of data breaches are expected to fuel the growth of the global RegTech market throughout the forecast period.

Research Analysis

The Regtech market is a rapidly growing sector that focuses on using technology to help financial institutions and other regulated industries meet their regulatory requirements. Compliance operations are at the heart of this market, with artificial intelligence, big data analytics, machine learning, and blockchain being some of the cutting-edge technologies driving innovation. Financial regulation areas such as anti-money laundering and fraud are major applications for Regtech solutions. The banking industry, healthcare, and other sectors face significant payment fraud risks, and Regtech startups are providing software maintenance and expertise to help mitigate these risks. With the digitization of financial services, the responsibilities of financial institutions continue to evolve, and Regtech is playing an increasingly important role. Extension funding rounds and investment in Regtech startups are on the rise, demonstrating the potential for significant growth in this market.

Market Overview

Regtech Market: Transforming Compliance Operations with Advanced Technologies The Regtech market is revolutionizing regulatory requirements in various industries by integrating Artificial Intelligence (AI), Big Data Analytics, Machine Learning, Natural Language Processing, and Blockchain technology. These cutting-edge technologies enable organizations to streamline compliance processes, mitigate financial crime risks, and ensure data security. Regtech solutions are not limited to the banking industry but also extend to healthcare and other regulated sectors. They help large enterprises manage risk, prevent fraudulent transactions, and ensure financial inclusion. Deployment types range from on-premises to cloud-based solutions, with the cloud segment gaining popularity due to its flexibility and cost-effectiveness. Regtech startups, such as Dot Compliance, are leading product innovation in this space, attracting investment from backers like Vertex Ventures. The regulatory landscape is ever-changing, and these organizations help businesses adapt by providing digitization, software maintenance, and expertise. Data security is paramount in regulatory compliance, with personal information protection a major concern. Regtech solutions ensure data quality, standardization, and adherence to security standards. The widespread adoption of Regtech is driven by the need to reduce operational burdens, minimize risks, and ensure regulatory compliance in a digitally transforming world. However, the implementation of Regtech comes with challenges, including the need for legislation, data gathering, and reporting formats. Large corporations must navigate these complex regulatory changes while managing their responsibilities to monetary authorities and maintaining trust with their customers.

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Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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USRA Mourns the Loss of Dr. Berrien Moore III, a Distinguished Member of the Board of Trustees

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WASHINGTON, Dec. 20, 2024 /PRNewswire/ — It is with deep sadness that Universities Space Research Association (USRA) announces the passing of Dr. Berrien Moore III, an internationally recognized leader in Earth Science and an invaluable member of the USRA Board of Trustees. Dr. Moore passed away on December 17, 2024, in Norman, Oklahoma. He was the Dean of the College of Atmospheric and Geographic Sciences and Director of the National Weather Center at the University of Oklahoma.

Dr. Moore was elected to the USRA Board of Trustees in 2019 and re-elected for a second term in 2022. He served in multiple leadership capacities on the Board, including Chair of the Compensation Committee, inaugural Chair of the University Engagement Committee, and, since 2021, Vice Chair of the Board.

Gen Lester Lyles, Chair of the USRA Board of Trustees said, “We are profoundly grieved by the loss of Berrien Moore, a treasured member of our Board. Berrien was a strong leader and a dedicated advocate for Earth Science. With his wit and charm, Berrien was more than just a colleague, he was a true friend to everyone. On behalf of the entire Board, I extend our heartfelt condolences to Berrien’s family and loved ones during this challenging time.”

Dr. Jeffrey Isaacson, President and CEO of USRA commented, “At USRA, we are deeply saddened by this news. This is a terrific loss for our Association, but we are grateful to have had the privilege of working with Berrien and are indebted by his many contributions. All of us at USRA extend our heartfelt condolences, prayers, and support to his family.”

Dr. Moore served in several capacities with NASA including as Principal Investigator of NASA’s Geostationary Carbon Cycle Observatory (GeoCarb) mission that placed University of Oklahoma at the forefront of climate research. He also served as chair of NASA’s Space and Earth Science Advisory Council, as a member of the NASA Advisory Council, and was on several other committees. As a Coordinating Lead Author for the Intergovernmental Panel on Climate Change, he contributed to the body of work that garnered the 2007 Nobel Peace Prize. His honors include NASA’s highest civilian honor, the Distinguished Public Service Medal for outstanding service, the NOAA Administrator’s Recognition Award, and the 2007 Dryden Lectureship in Research medal by the American Institute of Aeronautics and Astronautics. 

Dr. Moore is survived by his wife Lucia and his daughter Leila.

About USRA

Founded in 1969, under the auspices of the National Academy of Sciences at the request of the U.S. Government, the Universities Space Research Association (USRA) is a nonprofit corporation chartered to advance space-related science, technology, and engineering. USRA operates scientific institutes and facilities and conducts other major research and educational programs. It is an association with 121 university members. It engages the broader university community, employs in-house scientific talent, and offers innovative research, development, and project management expertise. More information about USRA is available at www.usra.edu.

PR Contact:
Suraiya Farukhi
sfarukhi@usra.edu
443-812-6945

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SOURCE Universities Space Research Association

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Varo Bank Introduces Zero Fee Cash Deposits at Participating CVS Locations

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New Collaboration with Green Dot Enables Cash Deposits at Over 7,500 CVS Pharmacy Locations

AUSTIN, Texas and SAN FRANCISCO, Dec. 20, 2024 /PRNewswire/ — Varo Bank, the first all-digital nationally chartered bank in the U.S., today announced a collaboration with Green Dot Corporation (NYSE: GDOT) and CVS Health (NYSE: CVS) to enable deposits for no fee for millions of Varo Bank customers at over 7,500 participating CVS Pharmacy locations nationwide.1 Utilizing Green Dot’s embedded finance platform (Arc) and expansive money movement network, the “Green Dot Network,” Varo customers can now deposit cash at participating CVS Pharmacy locations2 with zero fees. For customers who deposit cash regularly, this means saving $120 or more per year.

Traditional banks often charge fees unless customers maintain specified minimum balances in their accounts or meet monthly direct deposit requirements. In addition, unlike fintech companies that must work through partner banks to set their fee policies, Varo’s charter enables the bank to offer preferential fees and products to its customers.

“As an all-digital bank, Varo is creating low-cost financial solutions designed specifically for the needs of everyday Americans,” said Colin Walsh, Chief Executive Officer at Varo Bank. “This Green Dot collaboration at participating CVS Pharmacy locations eliminates cash deposit fees, making basic banking more convenient and affordable.”

Varo customers have access to a suite of primary banking products that support their financial stability and wellness, including:

Zero bank fees: No monthly, minimum balance, transfer, or overdraft feesFree and fast access to cash:Free cash deposits at 7,500+ CVS Pharmacy locationsFree withdrawals at 40,000+ Allpoint® ATMs nationwide2-day early payday with direct depositsAutomatic cash back rewards on purchasesAbility to qualify for Varo Advance and Varo Line of Credit over time

“We are thrilled to work with Varo and CVS Pharmacy to make banking accessible to millions of American consumers,” said Crystal Bryant-Minter, SVP, Money Movement at Green Dot. “With more than 20 years’ experience delivering seamless banking and payment solutions to consumers and businesses, Arc by Green Dot powers some of the world’s most trusted brands and thousands of other businesses at all stages of growth with seamless, secure and useful financial tools and experiences.”

About Varo Bank
Varo Bank is a new kind of bank – the first nationally chartered consumer tech bank in the U.S., built from the ground up with a focus on the needs of Americans striving to get ahead. From credit building to savings to faster payments, Varo has a complete solution to help everyday Americans make progress in their financial lives. Varo combines the capabilities and nimbleness of a technology company with the security and oversight of a regulated financial institution, enabling agile product design that provides technology-first solutions such as Varo Believe, a secured card to help build credit; Varo Advance, to help stretch hard-earned dollars between paychecks; and a high-yield savings account, offering one of the nation’s highest APYs. Varo has been named as one of the Inc. 5000 2023 fastest growth companies in the U.S., CNBC’s 2023 list of the World’s Top Fintech Companies, one of Forbes’ World’s Best Banks, and Fast Company’s Most Innovative Companies. For more information on Varo Advance, Varo Believe, and other offerings such as Perks, visit www.varomoney.com, like Varo Bank on Facebook, and follow us on Instagram and Twitter @varobank. ©2024 Varo Bank, N.A. Member FDIC.

About Arc by Green Dot
Arc is the embedded finance platform of services featuring all of Green Dot’s secure banking and money processing capabilities designed to fuel value, loyalty and growth for consumers and businesses. Arc by Green Dot powers some of the world’s most trusted brands and thousands of other businesses with seamless, secure and useful financial tools and experiences.

Integrated with Green Dot Bank3Arc provides partners with leading FDIC-insured banking products and tools, plus regulatory and compliance expertise, oversight and support. The Arc platform is cloud-based, modular and scalable by design – configurable to meet a wide range of business needs and goals, and flexible to adapt as our partners grow. Arc’s end-to-end banking services are powered by enterprise-grade APIs and offer partners access to comprehensive customer support, fraud protection, the largest retail deposit and ATM network in the U.S., and much more. For more information, visit greendot.com/arc.

Media Contact   

Audrey Jacobson, for Varo Bank: varobank@consortpartners.com 

1 Fees for optional service may apply
2 Cash deposit is available at all stand-alone CVS locations (through Green Dot Network®) with a cashier in the U.S. except those located within hospitals, on military bases, or in Target. You can deposit between $20$500 per transaction. A fee may apply for depositing cash at other Green Dot Network® locations.
3 Green Dot Bank also operates under the following registered trade names: GO2bank, GoBank and Bonneville Bank. All of these registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage up to the allowable limits. Green Dot Corporation NMLS #914924; Green Dot Bank NMLS #908739.

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SOURCE Varo Bank

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Connected Living for Everyone in the Family

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Smart devices for your home, office and while on the go

MISSION, Kan., Dec. 20, 2024 /PRNewswire/ — (Family Features) Technology is constantly evolving, so it’s not always easy to keep up with the latest gadgets and gizmos. From PCs and smart wearables to earbuds, smartphones, mixed reality devices and beyond, updated devices provide solutions for practical purposes and entertainment alike.

This season’s latest and greatest devices bring new opportunities to explore and engage for everyone – students, parents and everyone in between. With cutting-edge technology and top-tier performance, these innovative devices transform entertainment, empower more connections and help you work together with ease.

Learn more about what’s powering your favorite tech devices at qualcomm.com/snapdragon.

A Classic Comeback
Its launch 20 years ago was groundbreaking, but the Motorola Razr+ expands the boundaries of smartphone technology even further. This stylish, pocket-sized smartphone brings the power of AI to more users’ hands and offers a 50-megapixel, high-res camera system and a host of AI-powered camera features. It’s also one of the world’s first flip phones to feature the Snapdragon 8s Gen 3 Mobile Platform, allowing users to explore AI through accelerated performance, unparalleled connectivity, fast-paced gameplay and better content capture.

See Things Your Way
From music festivals and birthday parties to first steps, graduations and beyond, Ray-Ban Meta Smart Glasses free you from the constraints of a handheld camera. Instead of keeping the world at arm’s length (or missing out on the action completely as you struggle with your smartphone’s lock screen), these smart glasses, powered by the Snapdragon AR1 Gen 1 Platform, let you snap a photo or video clip from your unique point of view, allowing you to relive the moment and truly live in it, too.

Time and Place for Everything
Kids love to move, bounce, run and play, but they love video games, too. Bring these ideas together with Fitbit Ace LTE, powered by the Snapdragon W5 Gen 1 wearable platform, with fully immersive, interactive 3D games on their wrists. Each game is built specifically for the device using haptics, sounds, the accelerometer and more to deliver fun and engaging gameplay. The watch recognizes and rewards all sorts of physical activity, whether playing hide and seek, jumping on the bed or having a dance-off, by unlocking more game time the more they move.

It’s All in Your Head
From watching your favorite TV shows on a cinema-sized screen to your own personal trainer you can take anywhere you go, the Meta Quest 3S mixed reality device offers something for everyone. The headset, which also features multitasking capabilities, gaming and more, is powered by the Snapdragon XR2 Gen 2 Platform and is an ideal choice for someone new to mixed reality and immersive experiences or who might have been waiting for a more affordable upgrade.

Your Partner in Time
If you’re looking for a smartwatch that simultaneously supports your daily activity while motivating you, too, the OnePlus Watch 2 is packed with flagship features, including exceptional battery and charging performance for unrivaled reliability and longevity. It features Dual-Engine Architecture powered by two different flagship chipsets, the Snapdragon W5 performance chipset and the BES 2700 MCU Efficiency chipset, so it’s well-equipped to handle background activity and simple tasks simultaneously with more demanding tasks, like running favorite apps.

Listen and Learn
If you’re looking for a better balance between connecting and disconnecting, Bose Ultra Open Earbuds feature an innovative cuff-shaped design that provides top-level comfort for all-day wear without making you choose between immersive audio and awareness. In addition, because they attach to the side of your ear, you can wear them with glasses, a hat or jewelry and they won’t interfere, and thanks to their integrated Snapdragon Sound Technology Suite, you can count on seamless, robust connectivity.

Michael French
mfrench@familyfeatures.com
1-888-824-3337
editors.familyfeatures.com

About Family Features Editorial Syndicate
A leading source for high-quality food, lifestyle and home and garden content, Family Features provides readers with topically and seasonally relevant tips, takeaways, information, recipes, videos, infographics and more. Find additional articles and information at Culinary.net and eLivingToday.com.

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SOURCE Family Features Editorial Syndicate

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