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AI RegTech The pace of digital transformation means that, throughout the global finance industry enterprises face an increasingly complex regulatory landscape. In particular, the explosion of technology-driven financial solutions over the last decade has created complications in the space faster than they can be solved. Given the speed of these changes, the global regulatory framework has also fractalised, increasing in complexity faster than enterprises can adapt. Between 2008 and 2016, there was a 500% increase in regulatory changes in developed markets. Today, it’s estimated that a new regulatory update is made every seven minutes. It should be little surprise then, that since 2015, the RegTech industry has grown out of virtually nothing to become one of the most dynamic financial verticals in the world. By 2027, global RegTech spending is expected to exceed US$21.7bn and, according to a 2018 report by Medici, “an end-to-end RegTech implementation promises 634% in ROI realisable over a three-year period.”More info Less info
- Korea, Republic of
- Required to pay VAT
- Active since 2019
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