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Sunday, 21 July 2019

What Percent of Financial Services’ IT Budgets Are Devoted to Regulatory Technology?




  • As of 2017, the cost of regulatory compliance is equal to 14.3% of IT budgets on average
  • That’s a 30% increase in compliance costs over the last 6 years
  • The regtech market’s compound annual growth rate is 25% through 2023, growing to revenues of $7.2 billion
  • Solution categories in the regtech market include:
    • Data management
    • Reporting
    • AML/KYC
    • Risk management
    • Records management
    • Change management
    • Governance

  • More than $9 billion was invested in regtech firms between 2014 & 2018
  • In 2018 alone, $4.5 billion was invested in reg tech firms
  • The bulk of the regtech investments have been in the AML/KYC space