LAMEA RegTech Market

LAMEA RegTech Market Size, Share & Trends Analysis Report By Component (Solution, and Services (Professional, and Managed)), By Application, By Organization Size, By Deployment Mode, By Vertical, By Country and Growth Forecast, 2024 - 2031

Report Id: KBV-23357 Publication Date: July-2024 Number of Pages: 163
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Market Report Description

The Latin America, Middle East and Africa RegTech Market would witness market growth of 23.9% CAGR during the forecast period (2024-2031).

The Brazil market dominated the LAMEA RegTech Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,152.8 million 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).

LAMEA RegTech Market

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 Many organizations still rely on outdated compliance infrastructures not designed to accommodate modern technologies.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.

Free Valuable Insights: The Worldwide RegTech Market is Projected to reach USD 56 Billion by 2031, at a CAGR of 21.1%

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 Organization Size, the market is segmented into Large Enterprises, and Small & Medium Enterprises (SMEs). Based on Deployment Mode, the market is segmented into Cloud, and On-premise. Based on Vertical, the market is segmented into Banking & Capital Markets, Insurance, and Non-Financial. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.

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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.

LAMEA RegTech Market Report Segmentation

By Component

  • Solution
  • Services
    • Professional
    • Managed

By Application

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

By Organization Size

  • Large Enterprises
  • Small & Medium Enterprises (SMEs)

By Deployment Mode

  • Cloud
  • On-premise

By Vertical

  • Banking & Capital Markets
  • Insurance
  • Non-Financial

By Country

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