LAMEA RegTech Market Size, Industry Trends & Growth to 2027

LAMEA RegTech Market Size, Share & Industry Trends Analysis Report By Component, By Application, By Vertical, By Deployment Mode (Cloud and On-premise), By Organization Size, By Country and Growth Forecast, 2021 - 2027

Published Date: April-2022 | Number of Pages: 119 | Format: PDF | Report ID: KBV-17483

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Market Report Description

The Latin America, Middle East and Africa RegTech Market would witness market growth of 22.5% CAGR during the forecast period (2021-2027).

Growing attention on financial regulations, increased usage of modern technology, and rapid expansion of collaboration between national regulators and financial institutions are all major drivers of the RegTech market's growth. Financial monitoring is becoming more data-driven, with regulators wanting more detailed and frequent data. Data that is structured, well-defined, accurate, and detailed in order to assess compliance with most prudential standards, which are typically quantitative and must be of high quality. Moreover, banks have made and continue to make large investments in the necessary data and analytical IT systems. As a result, demand for financial services RegTech solutions is increasing, moving the industry ahead.

The Central Bank of UAE administers and oversees monetary, credit, and banking policy in conformity with the state's overall policy, intending to support the national economy and monetary stability. It manages the UAE government's gold and foreign currency reserves, functions as a bank for UAE-based banks, and operates as the UAE's financial representative at international financial institutions. Commercial, merchant or investment, Islamic, and industrial banks are the four types of banks in the UAE. Given the population size, many commentators believe the onshore banking sector is overcrowded. Local banks, the majority of which are state-owned, dominate the market.

Islamic banking has grown significantly in recent years and has become a significant part of the financial business in the United Arab Emirates. There are already seven designated Islamic banks operating in the nation. A number of traditional banks also provide Islamic banking and financial services. Financial Accounting Standards produced by the Accounting and Auditing Organization for Islamic Financial Institutions are used by some financial institutions in the Dubai Financial Market (AAOIFI).

The Brazil market dominated the LAMEA RegTech Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $328 million by 2027. The Argentina market is exhibiting a CAGR of 23.1% during (2021 - 2027). Additionally, The UAE market would display a CAGR of 22.2% during (2021 - 2027).

Based on Component, the market is segmented into Solution and Services (Professional and Managed). Based on Application, the market is segmented into Risk & Compliance Management, AML & Fraud Management, Identity Management, Regulatory Reporting, and Regulatory Intelligence. Based on Vertical, the market is segmented into Banking & Capital Markets, Insurance, and Non-Financial. Based on Deployment Mode, the market is segmented into Cloud and On-premise. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises (SMEs). Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.

Free Valuable Insights: The Global RegTech Market is Predict to reach $22.3 Billion by 2027, at a CAGR of 19.8%

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ACTICO GmbH, Jumio Corporation, MetricStream, Inc., NICE Ltd., Thomson Reuters Corporation, Wolters Kluwer N.V., IBM Corporation, Deloitte Touche Tohmatsu Limited, Broadridge financial solutions Inc., and Trulioo, Inc.

Scope of the Study

Market Segments Covered in the Report:

By Component

  • Solution
  • Services
    • Professional
    • Managed

By Application

  • Risk & Compliance Management
  • AML & Fraud Management
  • Identity Management
  • Regulatory Reporting
  • Regulatory Intelligence

By Vertical

  • Banking & Capital Markets
  • Insurance
  • Non-Financial

By Deployment Mode

  • Cloud
  • On-premise

By Organization Size

  • Large Enterprises
  • Small & Medium Enterprises (SMEs)

By Country

  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

  • ACTICO GmbH
  • Jumio Corporation
  • MetricStream, Inc.
  • NICE Ltd.
  • Thomson Reuters Corporation
  • Wolters Kluwer N.V.
  • IBM Corporation
  • Deloitte Touche Tohmatsu Limited
  • Broadridge financial solutions Inc.
  • Trulioo, Inc.

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Related Reports:

Global RegTech Market Report 2021-2027

North America RegTech Market Report 2021-2027

Europe RegTech Market Report 2021-2027

Asia Pacific RegTech Market Report 2021-2027

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