Find stats on top websites
Industry Landscape
The RegTech industry is experiencing robust growth driven by increasing regulatory complexity, digital transformation, and the demand for automated compliance solutions. AI and NLP are becoming central to streamlining regulatory intelligence and risk mitigation. Consolidation and innovation in specialized areas like regulatory change management are key trends.
Total Assets Under Management (AUM)
RegTech Market Size in United States
~Approximately 12 billion USD
(20-25% CAGR)
- Increased regulatory burden drives adoption.
- AI and automation adoption.
- Focus on financial crime prevention.
Total Addressable Market
12 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Generative AI for Regulatory Content
Generative AI could automate the drafting of regulatory responses, policy summaries, and even compliance reports, significantly reducing manual effort and speeding up content creation.
Explainable AI (XAI)
XAI will enhance transparency and trust in AI-driven compliance solutions by providing clear justifications for AI's decisions, crucial for auditability and regulatory scrutiny.
Blockchain for Regulatory Reporting
Blockchain technology can provide immutable, transparent, and secure records for regulatory reporting and audit trails, reducing fraud and ensuring data integrity.
Impactful Policy Frameworks
Cyber Incident Reporting for Critical Infrastructure Act of 2022 (CIRCIA)
CIRCIA requires critical infrastructure entities to report significant cyber incidents and ransomware payments to CISA within specified timeframes.
This policy will increase the demand for automated systems that can rapidly identify, classify, and report cyber incidents to comply with the new reporting obligations.
SEC Cybersecurity Disclosure Rules (2023)
The SEC adopted new rules requiring public companies to disclose material cybersecurity incidents within four business days and periodically disclose their cybersecurity risk management, strategy, and governance.
These rules necessitate robust internal processes and technology for timely and accurate identification and disclosure of cybersecurity incidents and risks, impacting financial services firms particularly.
New York State Department of Financial Services (NYDFS) Cybersecurity Regulation (Part 500) Amendments (2023)
NYDFS updated its cybersecurity regulation, strengthening requirements for covered entities regarding governance, risk assessment, access privileges, and incident response, including enhanced reporting obligations.
Financial institutions operating in New York will face stricter compliance requirements, driving the need for advanced RegTech solutions that support enhanced cybersecurity controls and reporting.
Transform Your Ideas into Action in Minutes with WaxWing
Sign up now and unleash the power of AI for your business growth
