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Juniper Research predicts that spending on regtech systems to help heavily regulated sectors meet their compliance burden will jump from $33 billion in 2020 to more than $130 billion in 2025.
A survey looking at compliance-related fintech shows there’s room for optimism despite recent events at British digital bank Revolut which show just how real those challenges can be
Are compliance functions improving despite a rise in expenditure on related technology? McKinsey does not think so.
Regulators are quickly paring back the rhetoric on KYC technology that promised to speed up bank onboarding. The problem now seems no closer to being resolved.