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Regtech Market to Grow by USD 25.2 Billion (2024-2028), Demand for Financial Crime Detection Boosting Growth, AI Transforming Market Evolution – Technavio

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NEW YORK, Nov. 26, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The global regtech market market size is estimated to grow by USD 25.2 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 25.89% during the forecast period. Need for identifying financial crime is driving market growth, with a trend towards integration of ai with regtech. However, lack of skilled workforce poses a challenge. Key market players include 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.

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment 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)

Region Covered

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

Key companies profiled

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

Key Market Trends Fueling Growth

The Regtech market is experiencing significant growth due to increasing regulatory requirements in various industries, particularly in compliance operations. Artificial intelligence, big data analytics, machine learning, and natural language processing are key technologies driving innovation in this space. Financially regulated industries, including banking and healthcare, are investing in Regtech solutions to manage risk, prevent fraudulent transactions, and ensure regulatory compliance. Blockchain technology and cloud-based solutions are popular deployment types, offering cost-effective, flexible options for large enterprises and startups alike. Regtech startups, such as Dot Compliance, are leading the way with product innovation, securing investment from backers like Vertex Ventures. The regulatory landscape is constantly evolving, with changes in legislation and compliance obligations placing a significant burden on organizations. Data security is paramount, with personal information and regulatory compliance data at risk of breach or mishandling, resulting in severe consequences, including regulatory penalties and legal liabilities. Regtech solutions are essential for managing operational methods, reducing risks, and ensuring financial inclusion. Cloud computing services, such as Software as a Service (SaaS), offer fixed costs and scalability, making them an attractive option for businesses undergoing digital transformation. Risk management, data gathering, and reporting formats are critical components of Regtech solutions. Large corporations and regulated industries are adopting these technologies to streamline compliance processes, improve data quality, and meet evolving regulatory requirements. The use of chatbots and automation is increasing, providing a more efficient and cost-effective way to manage compliance processes. Regtech solutions are also being used to address financial crime, including money laundering and payment fraud risks, and to ensure data standardization and security standards. The Regtech market is expected to continue growing, with widespread adoption and investment in cutting-edge technologies set to drive innovation and digitization in the financial industry. 

RegTech, a Software-as-a-Service solution, assists businesses in digitally complying with regulations and standards. Artificial Intelligence (AI) integration enhances RegTech’s capabilities. AI identifies patterns and similarities in diverse data sets, crucial for gaining new insights. It processes data from various sources, such as social media and stock market prices, revealing previously unnoticed correlations. This enhances RegTech’s ability to ensure regulatory compliance while delivering valuable insights. 

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Market Challenges

The Regtech market is facing several challenges in the areas of regulatory requirements and compliance operations. Financial institutions and regulated industries are grappling with the implementation of complex financial regulations, such as anti-money laundering and fraud prevention. To address these challenges, Regtech companies are leveraging advanced technologies like artificial intelligence, big data analytics, machine learning, and blockchain. However, the adoption of these cutting-edge technologies comes with its own set of challenges, including data gathering, data standardization, and data management. Moreover, the deployment type of Regtech solutions, whether on-premises or cloud-based, also poses challenges in terms of fixed and variable costs, security standards, and operational methods. Large corporations and financial institutions are increasingly turning to Regtech startups for product innovation and investment. However, the regulatory landscape is constantly changing, and compliance obligations require continuous software maintenance and updates. Data security and personal information protection are critical concerns, with severe consequences in case of breaches or mishandling. Regtech solutions must adhere to strict regulatory compliance data handling standards to ensure data quality and reporting formats meet monetary authorities’ requirements. Regtech startups are attracting investment from backers like Vertex Ventures to address these challenges and drive digitization and innovation in the banking industry. The widespread adoption of Regtech is essential for risk management, fraudulent transaction detection, and financial inclusion. Regtech solutions can help reduce risks, streamline compliance processes, and improve financial stability by minimizing financial crime. The use of chatbots and natural language processing can simplify regulatory compliance and make it more accessible to organizations of all sizes. However, the burden of regulatory compliance and the risks of non-compliance remain significant challenges that must be addressed. In conclusion, the Regtech market is experiencing significant growth as organizations seek to navigate the complex regulatory landscape and comply with changing regulations. Regtech solutions offer innovative ways to address these challenges using cutting-edge technologies like artificial intelligence, big data analytics, machine learning, and blockchain. However, the implementation of these solutions comes with its own set of challenges, including data gathering, data management, and data security. Regtech startups are playing a crucial role in driving innovation and investment in the Regtech market, but the regulatory landscape’s constant evolution and the risks of non-compliance remain significant challenges that must be addressed.The global RegTech market in the BFSI sector faces a significant challenge in the form of a skills gap. Financial organizations require a workforce with a combination of IT and financial expertise to effectively implement RegTech solutions. However, training this workforce in advanced technologies like blockchain and cybersecurity can be costly and time-consuming. Furthermore, competition for IT talent is fierce, with banks and fintech companies vying for the same pool of skilled professionals. This makes it essential for financial institutions to invest in upskilling their existing workforce or partnering with RegTech providers to bridge the skills gap.

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Segment Overview

This regtech market market report extensively covers market segmentation by

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

1.1 Solutions- 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.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

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 Research 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.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentSolutionsServicesEnd-userLarge EnterprisesSmall And Medium EnterprisesGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company 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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AVAILABILITY OF ANNUAL GENERAL AND SPECIAL MEETING MATERIALS AND ALTERNATIVE VOTING PROCEDURES

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56 minutes ago

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November 27, 2024

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TSXV – AGAG

VANCOUVER, BC, Nov. 26, 2024 /CNW/ – Argenta Silver Corp. (TSXV: AGAG) (“Argenta” or the “Company”) announces that, due to the current delays and suspension of mail service in Canada due to the nationwide strike of the Canadian Union of Postal Workers that commenced on November 15, 2024 (the “Postal Strike”), the notice of meeting and information circular (the “Meeting Materials”) for its upcoming annual and general special meeting being held on Tuesday December 17, 2024 (the “Meeting”) have not yet been mailed, but have been posted and are accessible on the Company’s SEDAR+ profile at www.sedarplus.ca and on the Company’s website at www.argentasilver.com.  Shareholders of the Company are encouraged to access the Meeting Materials directly through the above-mentioned websites, or may contact the Company’s transfer agent, Computershare Trust Company of Canada (“Computershare”) toll-free between the hours of 8:30 AM and 8:00 PM EST at 1-800-564-6253 or email at service@computershare.com to request copies of the Meeting Materials. In the event that the Postal Strike ends prior to the Meeting, the Company will mail the Meeting Materials in the normal course, but there can be no assurance that the Meeting Materials will be received by the shareholders prior to the Meeting.  The Company is in the process of evaluating its options with respect to relief from the mailing requirements for the Meeting Materials and will provide an update if and when such relief is granted.

How Registered Shareholders Can Vote

Registered shareholders are shareholders who hold their shares directly in the Company, and not through a brokerage account or depository company. The Company is advised that registered shareholders may submit their votes by proxy by completing the form of proxy available on the Company’s SEDAR+ profile or on the Company’s website (both linked above) and sending the completed proxy to Computershare by email at service@computershare.com. Registered shareholders who require assistance submitting their votes by proxy may contact Computershare toll-free between the hours of 8:30 AM and 8:00 PM EST at 1-800-564-6253 or email at service@computershare.com.

How Beneficial Shareholders Can Vote

Beneficial shareholders are shareholders who hold their investment through a brokerage house, depository company or other intermediary.  Beneficial shareholders should contact their brokerage house or depository company or other intermediary and ask to obtain their voting control number and the steps of how to vote, which could include internet voting, completing a form of proxy and emailing it, directing your broker over the phone on how you wish to vote or some other method as described by your brokerage house or depository company.

Financial Statements and MD&A

Copies of the Company’s annual financial statements and related management discussion and analysis for the year ended December 31, 2023, as well as interim financial statements and related management discussion and analysis for the quarterly periods ended March 31, 2024 and June 30, 2024  (collectively, the “Financial Statements and MD&A”) have been filed and are available on the Company’s SEDAR+ profile at www.sedarplus.ca.

The Company will provide physical copies of the Financial Statements and MD&A to securityholders upon request by phone at 604-609-6100 or email at mborthwick@fiorecorporation.com.  Following the conclusion of the Postal Strike, shareholders requesting Financial Statements and MD&A will be delivered those documents in the ordinary course.

About Argenta Silver Corp.

Argenta Silver Corp. is a focused silver exploration company committed to advancing projects that support the global energy transition. Our mission is to create sustainable, long-term value for shareholders by acquiring and developing high-potential silver assets in mining-friendly jurisdictions across Latin America. Led by an experienced management team with deep expertise in exploration, finance, and project development, Argenta takes a disciplined, strategic approach to growth. With a strong emphasis on responsible mining practices, we are well-positioned to meet the rising demand for silver—a critical metal in renewable energy and emerging technologies—while building a lasting and successful company.

On behalf of Argenta Silver Corp.

“Geir Liland”      

Chief Executive Officer

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Information

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

SOURCE Argenta Silver Corp.

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Auriemma Group Uncovers Whether Stored Value Accounts are a Replacement to Traditional Banking

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November 27, 2024

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The rapid evolution of FinTech solutions continues to reshape consumer perceptions of banking, with stored value accounts (SVAs) emerging as a potential competitor to traditional banking accounts and cards. Auriemma Group’s latest issue of The Payments Reports uncovers positive sentiments around SVAs, underscoring their role in the financial ecosystem and raising questions about their long-term viability as a banking alternative.

NEW YORK, Nov. 26, 2024 /PRNewswire-PRWeb/ — The rapid evolution of FinTech solutions continues to reshape consumer perceptions of banking, with stored value accounts (SVAs) emerging as a potential competitor to traditional banking accounts and cards. Auriemma Group’s latest issue of The Payments Reports uncovers positive sentiments around SVAs, underscoring their role in the financial ecosystem and raising questions about their long-term viability as a banking alternative.

While stored value accounts offer benefits like lower fees and faster transactions, traditional banks deliver stability, security, and trust—advantages that consumers continue to value.

SVAs offered by providers like PayPal and Venmo allow consumers to preload or receive funds and use them for a variety of transactions. Auriemma’s research shows that 61% of debit cardholders view SVAs as at least complementary to traditional banking, while 31% believe these accounts could replace at least some banking functions. Notably, 8% feel SVAs could entirely replace traditional banking services.

“Stored value accounts represent an important evolution in financial tools, but the collapse of Synapse underscores the risks of fintech intermediaries not covered by the FDIC,” says Jonathan O’Connor, Senior Manager of Research at Auriemma Group. “While stored value accounts offer benefits like lower fees and faster transactions, traditional banks deliver stability, security, and trust—advantages that consumers continue to value.”

What Can Traditional Banks Do?

SVAs are causing a modest stir among cardholders. Less than three-in-ten say they would be likely to use the option if offered by a FinTech provider. However, as SVAs grow in popularity, traditional banks can differentiate themselves by doubling down on their strengths and addressing evolving consumer needs. Auriemma’s research highlights several strategies banks can use to endear themselves to current and potential customers:

Building Trust: Traditional banks should emphasize their strong track record of security—including FDIC backing—and fraud prevention. Providing clear, transparent policies and educating customers about safeguards can build trust that SVAs may not yet fully inspire.
 Enhanced Digital Experiences: Streamlining mobile and online banking interfaces can help banks compete with the tech-first approach of FinTechs. User-friendly apps with integrated budgeting tools, instant payments, and easy account management could make a significant difference.
 Personalized Financial Products: Banks can leverage their broad customer data to offer tailored financial products, such as personalized savings plans or rewards programs that align with individual spending habits.
 Bundled Offerings: By packaging SVAs with more traditional banking services—like high-yield savings accounts, credit cards, and loans—banks can create holistic financial solutions that FinTechs may struggle to match.

Opportunities for Growth

Most of those who have used a SVA with a FinTech provider say they would likely use more of that provider’s products, if available. This highlights the possibility of expansion SVAs create for those who use them. While largely benefiting FinTechs hoping to expand into other financial services, SVAs could also be a gateway for traditional banks hoping to deepen their relationship with new and existing customers.

“Traditional banks have the advantage of deep customer relationships, established financial stability, and the trust that comes with rigorous regulatory oversight. By leaning into these strengths and innovating alongside FinTechs, banks can remain central to their customers’ financial lives,” says O’Connor.
“Our research shows that the future of banking will likely blend the reliability of traditional institutions with the agility and accessibility of modern FinTech solutions, creating a dynamic ecosystem that meets a diverse set of consumer needs.”

Media Contact

Jonathan O’Connor, Auriemma Group, 1-646-437-6116, jonathan.oconnor@acg.net, www.auriemma.group

View original content:https://www.prweb.com/releases/auriemma-group-uncovers-whether-stored-value-accounts-are-a-replacement-to-traditional-banking-302316988.html

SOURCE Auriemma Group

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6D Technologies Recognized as ‘Best of IT Service Excellent Gold Partner of the Year’ at Smartfren Awards 2024

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November 27, 2024

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BENGALURU, India, Nov. 27, 2024 /PRNewswire/ — 6D Technologies is honored to announce its receiving of the ‘Best of IT Service Excellent Gold Partner of the Year’ at the prestigious Smartfren Awards 2024. This recognition highlights 6D Technologies’ relentless commitment to delivering innovative and impactful IT solutions that drive success for Smartfren and its customers.

6D Technologies’ partnership with Smartfren spans multiple years of collaboration, innovation, and shared growth. By consistently delivering customized solutions and exceptional service, 6D Technologies and Smartfren have become trusted partners in their journey of digital transformation. 

“We are incredibly proud to be recognized as the ‘Best of IT Service Excellent Gold Partner of the Year’. This award reflects our commitment to fostering strong partnerships and providing groundbreaking solutions that empower our clients to lead in a digital-first world. Thank you, Smartfren, for this esteemed recognition. Together, we continue to set benchmarks for innovation and excellence!” said Abhilash Sadanandan, Co-Founder and CEO of 6D Technologies. 

About Smartfren Awards

The Smartfren Awards celebrate outstanding achievements and partnerships that propel the company’s mission of innovation and excellence. This annual event acknowledges the critical contributions of partners who share a vision for driving progress and enriching customer experiences. 

About 6D Technologies

6D Technologies is a global leader in digital transformation solutions, offering cutting-edge technologies in areas like digital BSS, AI, IoT, Digital Financial Solutions, and more. With a customer-first approach and a proven track record, 6D Technologies empowers enterprises to navigate the complexities of today’s digital landscape and achieve sustainable growth.

 

SOURCE 6D Technologies

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