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Regtech: Market Forecasts, Trends & Strategies 2023-2028: Full Research Suite

Publisher Juniper Research
Published Dec 06, 2023
Length 106 Pages
SKU # JNRH19878059

Description

Our new Regtech report provides in-depth analysis and evaluation of how next‑generation regulatory technology such as AI and blockchain are being developed into solutions that help industry leaders reach their regulatory compliance requirements; delivering critical insights on how regtech will grow over the forecast period, key vendors that are driving the evolution of the regulatory landscape and the future prospects for these companies in the regtech landscape. It provides an evaluation of the development of regtech across 60 different key countries of interest. The study also contains the Juniper Research Competitor Leaderboard; positioning 23 key vendors from regtech including vendors specialising in areas such as regulatory compliance, identity management, risk management, transaction monitoring and more.

The research delivers incisive analysis of the regtech market landscape, looking at the past and future of regtech alongside the current regulatory framework in 6 regions; featuring key pain points for the digital onboarding processes, an assessment on leading technologies such as AI and blockchain, and the key opportunities for vendors to seize. Furthermore, the research includes a segment analysis on 8 key industries in which regtech has managed to position itself successfully: finance, gaming, cybersecurity, retail, cryptocurrency, healthcare, government and insurance & wealth. Finally, the study also features a comprehensive forecast suite; encompassing regtech market growth and digital onboarding across two key segments:

Banking Onboarding
Property Onboarding
Key Features
Market Dynamics: Insights into key trends and market expansion challenges within the development of regtech technological infrastructure. Assessment of how advanced technology such as machine learning and blockchain are being developed into solutions that help the financial industry achieve anti-money laundering regulations and combat fraudulent activities. Insight on the different digital onboarding methods and an assessment of their approaches.
Key Takeaways & Strategic Recommendations: Key opportunities for vendors highlighted across the regtech market landscape; making for an important read for key stakeholders.
Benchmark Industry Forecasts: 5-year forecasts for key metrics, including the total spend on regtech, as well as the number of new bank accounts opened using digital onboarding and the total time and cost savings from KYC checks carried out using AI, split by banking and property onboarding. The data is also split by our 8 key forecast regions and 60 countries:
North America:
Canada, US
Latin America:
Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, Uruguay
West Europe:
Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, UK
Central & East Europe:
Croatia, Czech Republic, Hungary, Poland, Romania, Russia, Turkey, Ukraine
Far East & China:
China, Hong Kong, Japan, South Korea
Indian Subcontinent:
Bangladesh, India, Nepal, Pakistan
Rest of Asia Pacific:
Australia, Indonesia, Malaysia, New Zealand, Philippines, Singapore, Thailand, Vietnam
Africa & Middle East:
Algeria, Egypt, Israel, Kenya, Kuwait, Nigeria, Qatar, Saudi Arabia, South Africa, United Arab Emirates
Juniper Research Competitor Leaderboard: Key player capability and capacity assessment for 23 regtech vendors, via the Juniper Research Competitor Leaderboard, featuring the following vendors:
Ascent
Behavox
BigID
Chainalysis
ComplyAdvantage
CyberGRX
Drata
Elliptic
Encompass
Feedzai
Fenergo
Hummingbird
IDology
Jumio
Onfido
Quantexa
Sift
Socure
SymphonyAI Sensa
Tessian
Trulioo
Trunomi
Unit21

Please note: the online download version of this report is for a global site license.

Table of Contents

106 Pages
1. Key Takeaways & Strategic Recommendations
1.1 Key Takeaways
1.2 Strategic Recommendations
2. Market Landscape
2.1 Introduction
2.1.1 The Past and Future of Regtech
2.1.2 Challenges Faced by the Regtech Market
2.2 Regulatory Framework
i. Dodd-Frank Wall Street Reform and Consumer Protection Act
ii. Basel III
iii. Solvency II
iv. MiFID II
v. PSD
vi. PATRIOT Act
vii. Overall Regulatory Frameworks
2.2.2 Regulatory Requirements
i. AML & KYC
ii. Regulatory Reporting
iii. Risk Management
iv. Compliance/Behaviour Management
v. Transaction Management
vi. Fraud Prevention
2.2.3 Country-level Regulatory Framework
i. US
ii. Canada
iii. UK
iv. Germany
v. China
vi. India
3. Digital Onboarding, Risk Management and Compliance
3.1 Digital Onboarding, Compliance and Risk Management
3.1.1 Know Your Customer
3.1.2 Know Your Business
3.1.3 Know your Data
Figure 3.1. Regtech Development
3.1.4 Know Your Patient
3.1.5 Age Verification
3.1.6 Digital Onboarding techniques
Figure 3.2 Types of Digital Onboarding Techniques
i. Selfie Onboarding
ii. Knowledge-based Authentication
iii. Verification of Personal Details
iv. Verification Using Digital Identity Schemes
v. Subscriber & Device Identity
3.2 Digital Onboarding Trends
3.2.1 Geopolitical and economic impact
3.2.2 ESG Compliance
3.2.3 The Rise of Digital-only Banks
3.2.4 The Increasing Importance of Continuous Verification
3.2.5 Advantages of Digital Onboarding Use
3.2.6 Challenges to Digital Onboarding Use
3.3 Digital Onboarding: Future Outlook
3.4 Regtech Technological Infrastructure
Figure 3.2 Regtech Technological Approaches
3.4.1 Artificial Intelligence and Analytics
i. AI for Transaction Monitoring
ii. AI for Behaviour Monitoring
iii. AI for KYC/AML Checks
iv. AI as a Regulation Compliance Tool
v. AI for Email Security
vi. Approach Assessment
3.4.2 Blockchain
i. Blockchain for KYC
ii. Blockchain for GRC (Governance, Risk, Compliance)
iii. Approach Assessment
3.4.3 Biometrics
i. Approach Assessment
3.4.4 Chatbots
i. Approach Assessment
3.4.5 Digital Identity
i. Approach Assessment
3.4.6 Conclusions
4. Segment Analysis: Industry Applications for Regtech
4.1 Segment Analysis – Industry applications for Regtech
4.1.1 Finance
i. Opportunities
ii. Challenges
4.1.2 Gaming
i. Opportunities:
ii. Challenges
4.1.3 Cybersecurity
i. Opportunities
ii. Challenges
4.1.4 Retail
i. Opportunities
ii. Challenges
4.1.5 Cryptocurrency
i. Opportunities
ii. Challenges
4.1.6 Healthcare
i. Opportunities
ii. Challenges
4.1.7 Government and Border Control
i. Opportunities
ii. Challenges
4.1.8 Insurance, Wealth and Asset Management
i. Opportunities
ii. Challenges
1. Juniper Research Competitor Leaderboard
1.1 Why Read This Report
Table 1.1: Juniper Research Competitor Leaderboard – Regtech Vendors Included & Product Portfolio
Figure 1.2: Juniper Research Competitor Leaderboard – Regtech
Table 1.2: Juniper Research Leaderboard Regtech Vendors Positioning
Table 1.3: Juniper Research Competitor Leaderboard for Regtech Vendors – Heatmap
Table 1.4: Juniper Research Competitor Leaderboard for Regtech Vendors – Heatmap - Continued
1.2 Vendor Profiles
1.2.1 Ascent
i. Corporate
Table 1.5: Ascent’s Investment Rounds ($m), 2013-
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.2.2 Behavox
i. Corporate
Table 1.6: Behavox’s Investment Rounds ($m), 2014-
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.2.3 BigID
i. Corporate
Table 1.7: BigID Investment Rounds ($m), 2016-
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iii. High-level View of Offering
iv. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.2.4 Chainalysis
i. Corporate
Table 1.8: Chainalysis’ Investment Rounds ($m), 2016-
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.2.5 ComplyAdvantage
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.2.6 CyberGRX, inc.
i. Corporate
Table 1.10: CyberGRX’s Investment Rounds ($m), 2016-
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.2.7 Drata
i. Corporate
Table 1.11: Drata’s Investment Rounds ($m), 2021-
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.2.8 Elliptic
i. Corporate
Table 1.12: Elliptic’s Investment Rounds ($m), 2014-
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Partnerships
1.2.9 Encompass
i. Corporate
Table 1.13: Encompass’ Investment Rounds ($m), 2016-
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.2.10 Feedzai
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level view of offering
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.2.11 Fenergo
i. Corporate
Table. 1.15: Fenergo’s Investment Rounds ($m), 2013-
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.2.12 Forter
i. Corporate
Table 1.16: Forter’s Investment Rounds ($m), 2014-
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.2.13 Hummingbird
i. Corporate
Table 1.17: Hummingbird’s Investment Rounds ($m), 2018-
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.2.14 IDology
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.2.15 Jumio
i. Corporate
Table 1.18: Jumio’s Investment Rounds ($m), 2010-
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.2.16 Onfido
i. Corporate
Table 1.19: Onfido’s Investment Rounds ($m), 2017-
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.2.17 Quantexa
i. Corporate
Table 1.20: Quantexa’s Investment Rounds ($m), 2017-
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of offering
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.2.18 Sift
i. Corporate
Table 1.21: Sift’s Investment Rounds ($m), 2011-
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.2.19 Socure
i. Corporate
Table 1.22: Socure’s Investment Rounds ($m), 2016-
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of offering
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.2.20 SymphonyAI Sensa
i. Corporate
Table 1.23: SymphonyAI Sensa Investment Rounds ($m), 2012-
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of offering
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.2.21 Tessian
i. Corporate
Table 1.24: Tessian’s Investment Rounds ($m), 2014-
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of offering
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.2.22 Trulioo
i. Corporate
Figure 1.25: Trulioo’s Investment Rounds
ii. Geographical location
iii. Key Clients & Strategic Partnerships
iv. High-level View of offering
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.2.23 Unit
i. Corporate
Table 1.26: Unit21 Investment Rounds, 2020-
ii. Geographical location
iii. Key Clients & Strategic Partnerships
iv. vi. High-level View of offering
v. Juniper Research’s View: Key Strengths & Strategic Development Opportunities
1.3 Juniper Research Leaderboard Assessment Methodology
1.3.1 Limitations & Interpretation
Table 1.27: Juniper Research Competitor Leaderboard Scoring Criteria
1. Regtech: Introduction & Methodology
1.1 Introduction
1.2 Methodology & Assumptions
Figure 1.1 Global Regtech Forecast Methodology
Figure 1.2 KYC Validation in Banking Forecast Methodology
Figure 5.3 KYC Validation for Property Sales Forecast Methodology
2. Regtech Forecast: Digital Banking Onboarding
2.1 Global Regulatory Compliance Forecasts
2.1.1 Total Regtech Spending Forecast
Figure & Table 2.1: Total Spending Attributable to Regtech ($m), Split by 8 Key Regions, 2023-
2.2 Digital Banking Onboarding Forecast
2.2.1 Number of New Accounts Opened Using Digital Onboarding
Figure & Table 2.2: Number of New Bank Accounts Opened per annum via Digital Onboarding (m), Split by 8 Key Regions, 2023-2028.
2.3 Total Number of KYC Checks for Banking Carried Out by AI per annum
Figure & Table 2.3: Total Number of Digital Onboarding Checks for Banking Carried Out by AI Systems (m), Split by 8 Key Regions, 2023-
2.4 Total Time Savings from Carrying Out Banking KYC Checks with AI Systems
Figure & Table 2.4: Total Time Savings on Banking KYC Checks Utilising AI Systems (Million Hours), Split by 8 Key Regions, 2023-
2.5 Total Cost Savings from Utilising AI for Banking KYC Checks
Figure & Table 2.5: Total Cost Saving on KYC Checks Utilising AI Systems ($m), Split by 8 Key Regions, 2023
3. Regtech Forecast: Digital Property Onboarding
3.1 KYC Checks for Property Forecasts
3.1.1 Total Number of KYC Checks Carried Out for Property Sales per annum
Figure & Table 3.1: Total Number of KYC Checks Carried Out for Property Sales per annum (m), Split by 8 Key Regions, 2023-
3.1.2 Total Number of KYC Checks for Property Sales Carried Out by AI per annum
Figure & Table 3.2: Total Number of KYC Checks Carried Out for Property Sales per annum (m), Split by 8 Key Regions, 2023-
3.1.3 Total Time Savings from Carrying out Property Sale KYC Checks with AI Systems per annum
Figure & Table 3.3: Total Time Saving on KYC Checks for Property Sales Utilising AI Systems per annum (Million Hours), Split 8 Key Regions, 2023-
3.1.4 Total Cost Savings from Utilising AI to Carry Out Property Sale KYC Checks per annum
Figure & Table 3.4: Total Cost Savings on KYC Checks for Property Sales Utilising AI systems per annum ($m), Split by 8 Key Regions, 2023-

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