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U.S. RegTech Market Report 2023: Regulatory Sandbox Approach Supports Regtech Innovations

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Dublin, May 11, 2023 (GLOBE NEWSWIRE) — The “U.S. RegTech Market – Industry Outlook & Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.

The U.S. RegTech market is expected to grow at a CAGR of 21.54% during 2022-2028.

The increasing fraud and money laundering activities have expanded the U.S. RegTech market.

Fraudulent activities such as money laundering require a RegTech framework to help risk and compliance teams manage complex regulatory compliance requirements. Digital fraud attacks in financial service organizations have increased by 109% in the US. Digital fraud includes any online scams or fraudulent transactions.

Adoption of AI in RegTech Industry

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Artificial Intelligence (AI) is becoming popular and is witnessing increasing use across multiple fields due to generating significant amounts of data daily, which is difficult to deal with manually. AI technology is providing new opportunities and advantages with the potential for enormous economic and societal impact. Recent technological developments in big data, computing, data storage power, and the digital economy facilitate rapid AI implementation in various sectors, including finance.

Competitive pressures in the financial sector are increasing the adoption of AI widely and rapidly changing its landscape. AI facilitates improvements in reshaping client interfaces, efficiency, and cost savings, improving risk management and compliance, and enhancing forecasting accuracy.

INDUSTRY RESTRAINTS
Cybersecurity and Consumer Data Privacy

Cyber threat is a key challenge in the regulatory technology ecosystem. While the automated compliance of RegTech lessens operational risks and allows more granular checks for internal frauds and AML, it also presents a challenge of cyber risks. Common risks are sabotage, data breach, and data or identity theft – internal, external, and state-sponsored which can have immense and extensive consequences. Before, the technologies found to be safe, like biometric authentication, have become attack mediums. However, the usage of novel technologies with mischievous intentions spanning everything from deep fakes to machine learning is also rising. Thereby posing challenges to the growth of the U.S. RegTech market.

SEGMENTATION INSIGHTS
INSIGHTS BY COMPONENT

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The U.S. RegTech market by component is segregated into solutions and services. In 2022, the solutions segment was the highest revenue contributor. RegTech solutions mainly focus on maintaining compliance with anti-money laundering (AML) and knowing your customer (KYC) regulations. These solutions are typically based on artificial intelligence-driven applications created using machine learning technology. RegTech solutions offer various purposes and functionality, including fraud prevention, risk management, know-your-customer (KYC) technology, and regulatory change discovery applications.

Segmentation by Component

  • Solutions
  • Services

INSIGHTS BY ORGANIZATION SIZE

The large enterprises’ organization size segment held the largest U.S. RegTech market, accounting for over 63% share in 2022. RegTech is becoming progressively more important for large enterprises, mainly in the financial services industry, as it helps fulfill the increasing demand for regulatory compliance while enhancing operational efficiency. To improve operational efficiency, compliance, and customer experience and reduce cost, large enterprises are increasingly investing in RegTech solutions. Large enterprises adopt RegTech solutions based on their specific regulatory and business requirements. Some of the major revenue contributors in this segment are leading financial services, healthcare providers, insurance, and others.

INSIGHTS BY DEPLOYMENT TYPE

The cloud-based RegTech solutions offer faster deployment, limited capital and operational expenditure, pay-as-you-grow model availability, integrations APIs, unlimited storage, scalability, redundant infrastructure, and reduced dependency on the internal IT support team. The cloud-based segment is the highest revenue contributor to the U.S. RegTech market. Cloud-based RegTech services are highly suitable for organizations migrating IT applications and business processes to the cloud. The vendors in the U.S. RegTech market are highly competitive in terms of pricing and customer support. Since the inception time of cloud-based RegTech services, multiple local and global vendors have provided RegTech services to end-users.

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INSIGHTS BY VERTICAL

The U.S. RegTech market by vertical is segregated by banking, insurance, and non-financial. In 2022, the banking segment accounted for over 52% of the market revenue. RegTech solutions are having a considerable impact on the banking industry. Banks use RegTech solutions for their operation’s security, cost-effectiveness, and efficiency. RegTech helps banks by using technological advancements in artificial intelligence, data mining, machine learning, blockchain, automation, and others to manage risks, optimize processes, and solve problems for regulatory compliance.

INSIGHTS BY APPLICATION

The risk and compliance management application segment is expected to be the largest in the U.S. RegTech market. RegTech uses innovative techniques and capabilities to assist organizations in enhancing their reporting, regulatory governance, compliance, and risk management. It helps make regulatory compliance more manageable and hastens digital optimization and business growth; when implemented, it improves risk management efforts.

REGIONAL ANALYSIS

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The U.S. RegTech market is witnessing dynamic expansion. Organizations worldwide are tasked with complying with a broad range of new and existing regulations and are worried their prevailing technology can’t keep up. This concern has led to a surge in RegTech investments in the U.S. and worldwide. To simplify and streamline compliance, data management, reporting, risk management, and more, firms are turning to RegTech startups’ technology. As the RegTech market matures, some cosmopolitan cities strive for the top globally in terms of deal activity. Among those are New York, San Francisco, Palo Alto, Boston, Seattle, etc. Thus, the cities coming from the US dominate the charts worldwide. This is expected given the strong fintech innovation hubs formed in San Francisco and New York.

COMPETITIVE LANDSCAPE

The presence of many players in the market characterizes the U.S. RegTech market. The rising competition pressures various vendors to continuously innovate their offerings with a unique value proposition to survive in the market. Companies must invest significant money in R&D to introduce new technologies and enhance their offerings.

Ascent, Chainalysis, Broadridge, Deloitte, and IBM are among the key players in the market. Other players operating in the U.S. RegTech market include ACTICO, Clausematch, ComplyAdvantage, Fenergo, Onfido, PaymentWorks, and others. The rising competition pressures various vendors to continuously innovate their offerings with a unique value proposition to survive in the market. Although established players dominate the industry, new entrants have tremendous growth opportunities.

Key Attributes:

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Report Attribute Details
No. of Pages 163
Forecast Period 2022 – 2028
Estimated Market Value (USD) in 2022 $2550 Million
Forecasted Market Value (USD) by 2028 $8219.86 Million
Compound Annual Growth Rate 21.5%
Regions Covered United States

Key Vendors

  • Ascent
  • Chainalysis
  • Broadridge
  • Deloitte
  • IBM

Other Prominent Vendors

  • ACTICO
  • Clausematch
  • ComplyAdvantage
  • Fenergo
  • Onfido
  • PaymentWorks
  • Jumio
  • Acuant
  • MetricStream
  • NICE
  • PwC
  • Thomson Reuters
  • Wolters Kluwer
  • Ceptinel
  • Hummingbird
  • CyberGRX
  • Exiger
  • FixNix
  • Feedzai
  • Sensa
  • DataVisor
  • TruNarrative
  • Alessa
  • Tessian
  • Corlytics

KEY QUESTIONS ANSWERED:

1. How big is the U.S. RegTech market?
2. What is the growth rate of the U.S. RegTech market?
3. What are the significant trends impacting the U.S. RegTech industry?
4. What are the U.S. RegTech market segments?
5. Who are the key players in the U.S. RegTech market?

Key Topics Covered:

1 Research Methodology

2 Research Objectives

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3 Research Process

4 Scope & Coverage

5 Report Assumptions & Caveats

6 Market at a Glance

7 Premium Insights

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8 Introduction

9 Market Opportunities & Trends
9.1 Adoption of Ai in Regtech Industry
9.2 Regtech for Non-Financial Institutions
9.3 Adoption of New Technologies

10 Market Growth Enablers
10.1 Increasing Cost of Compliance
10.2 Growing Fraudulent Activities
10.3 Growing Need for Faster Transactions
10.4 Regulatory Sandbox Approach Supports Regtech Innovations

11 Market Restraints
11.1 Cybersecurity and Consumer Data Privacy
11.2 Lack of Data Standardization

12 Market Landscape

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13 Component

14 Organization Size

15 Deployment Type

16 Vertical

17 Application

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18 Competitive Landscape

19 Key Company Profiles

20 Other Prominent Vendors

21 Report Summary

22 Quantitative Summary

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23 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/pwqloz

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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Artificial Intelligence

Akuvox S567G Smart Indoor Monitor Has Received Google Mobile Service Certification

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XIAMEN, China, Sept. 13, 2024 /PRNewswire/ — Akuvox has announced its S567G, an indoor monitor powered by Android™, to have received Google GMS certification. This certification ensures full support for Google Services, allowing users to download and update apps directly from the Google Play Store, including smart home control apps. It also enhances system security, protecting against malware and unauthorized access.

GMS certification involves comprehensive testing and approval by Google or a designated 3PL lab, validating security and compatibility to ensure seamless integration within the Android ecosystem. Receiving GMS certification underscores Akuvox’s leadership in the smart intercom industry. Building on its legacy as the pioneer of Android smart intercoms, Akuvox continues to elevate its Android systems with Google’s rigorous certification, offering clients flexible and sophisticated smart intercom solutions. 
The S567G’s GMS certification ensures flawless operation with key Google apps like Chrome, Gmail, YouTube, Maps, and the Play Store. Edward Shi, Product Manager of the S567G, notes, “The positive feedback we’ve received from clients, even during testing, confirms that this device is transforming daily life. It’s more than just an intercom — it’s a versatile tool, even capable of functioning as a small TV. Our team has worked tirelessly to meet the highest standards, and I’m excited to see how it enhances smart living for our users.”
The S567G’s features extend beyond intercom functionality. With four HD speakers and a 1280 x 800 IPS LCD screen, it offers an exceptional audio-visual experience, redefining the concept of an indoor monitor. Whether for entertainment or smart home control, the S567G stands out as a versatile wall-mounted tablet, bringing innovation to every interaction.
About Akuvox
Akuvox is a global leading provider of smart intercom and smart home products and solutions. It is committed to unleashing the power of technology to improve people’s lives with better communication, greater security, and more convenience. Encompassing artificial intelligence, SIP, Android, cloud, security, and other advanced technologies, Akuvox continuously drives breakthrough changes in the industry and creatively delivers an unrivaled portfolio of smart intercom and smart home products and solutions. It has been deployed and used daily in more than 110 countries and regions, meeting customer needs in various vertical markets that range from residential to commercial, from healthcare to public safety.
Photo – https://mma.prnewswire.com/media/2504901/Akuvox_S567G_Indoor_Monitor_Has_Received_GMS_CertificationAkuvox_proudly_announced.jpg 

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SeaBubbles Accelerates Sustainable Maritime Mobility with SmartBubble and Strategic Acquisition

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SAINT JORIOZ, France, Sept. 13, 2024 /PRNewswire/ — SeaBubbles, French pioneer in zero-emission hydrofoils, strengthens its commitment to ecological transition with the launch of SmartBubble, new flying boat model combining cutting-edge technology with iconic design. This innovative vessel, designed to carry up to eight people at a speed of 16 knots (30 km/h), takes its passengers on a silent and environmentally friendly flight, ideal for water taxi services and urban transportation.

SmartBubble: Concentration of Technology and Design
Following the success of its first public line on Lake Annecy, where hundreds of passengers experienced the unique sensation of flying aboard The Bubble (4-seater model), SeaBubbles reaches a new milestone with the homologation of the SmartBubble (8-seater model) and its four patents, including retractable foils.
SmartBubble technology is geared towards energy efficiency. The submerged wings (foils) equipped with automatic flaps allow to fly at low speeds, saving 40% of energy required. This unique boat has just been presented afloat for the first time at the Cannes Yachting Festival.
SeaBubbles Strengthens Flight Control Expertise with Neocean Acquisition
SeaBubbles also announces the acquisition of Neocean technology, to accelerate the development of flight control expertise, specifically on “inverted T” foils. Neocean is renowned for developing the Overboat, foiling catamaran with proven stability and maneuverability.
SeaBubbles is a key player in hydrofoil navigation, technology that improves energy efficiency of boats, particularly electric ones. The flight control system is a central element of the flight experience: it is designed to ensure stable flight by dynamically and autonomously managing the mechanical inclination of the flaps on the trailing edges of the foils.
SeaBubbles: Vision for the Future
SeaBubbles’ ambition is to revolutionize urban and suburban maritime transport with more efficient and environmentally friendly boats. Examples such as the Calanques National Park, Norwegian fjords, alpine lakes or the canals of Amsterdam demonstrate a committed initiative towards the preservation of aquatic ecosystems by gradually banning the circulation of thermal boats.
“Foils significantly reduce the drag of our boats, allowing our hydrofoils to move more easily and with less energy than a conventional boat: a considerable gain in cost and energy,” explains Virginie Seurat, CEO of SeaBubbles. “The acquisition of Neocean marks a decisive turning point and prepares us for our industrialization phase. We are ready to redefine the pleasure of boating and offer boats that comply with increasingly stringent environmental standards, while offering unique sailing comfort – zero noise, zero waves, zero emissions.”
AxiCom for SeaBubbles, [email protected] 
Photo – https://mma.prnewswire.com/media/2505216/SmartBubble_SeaBubbles.jpgLogo – https://mma.prnewswire.com/media/2146226/SeaBubbles_Logo.jpg
 
 
 

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Amagi and BuyDRM Partner to Secure Streaming Video on PlayMedia’s FAST Platform GoPlay

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NEW YORK, Sept. 13, 2024 /PRNewswire/ — Amagi, the global leader in cloud-based SaaS technology for broadcast and connected TV (CTV), today announced a partnership with BuyDRM, a leading content security services and solutions provider offering cloud-based content security for the streaming video platform GoPlay by PlayMedia. This successful collaboration with BuyDRM’s KeyOS Content Security Platform provides robust safeguards for valuable video content while allowing PlayMedia to focus on delivering high-quality video experiences to its audience without compromising security.

This partnership marks a significant step forward in addressing the evolving challenges of content security in today’s digital landscape. By combining BuyDRM’s expertise in DRM solutions with Amagi’s scalable cloud infrastructure, PlayMedia can ensure comprehensive protection for its content library against piracy and unauthorized access.
BuyDRM’s KeyOS Content Security Platform is an award-winning, studio-approved multi-DRM and watermarking content security platform for video. The KeyOS platform protects the assets of copyright holders and distributors with robust security services and solutions for high-value video content and is trusted by many of the most prominent names in media and entertainment across the globe.
Srinivasan KA, Co-Founder and Chief Revenue Officer at Amagi, said, “Our partnership with BuyDRM aligns perfectly with our endeavor to empower content creators and distributors with innovative technology. Integrating BuyDRM’s KeyOS platform into our cloud-based platform offers our customers like PlayMedia the peace of mind they need to focus on delivering exceptional content.”
“The alliance with Amagi made it possible for our mutual customer, PlayMedia, to utilize our content security offering in a cloud-based environment without sacrificing their security standards and the user experience,” said Christopher Levy, BuyDRM CEO and Co-Founder. “Both companies worked hard to empower PlayMedia with the technology needed to thrive in today’s streaming market.”
Amagi provides a complete suite of channel creation, distribution, and monetization solutions. The company’s clients include some of the world’s biggest names, including A+E Networks UK, ABS-CBN, Astro, Cox Media Group, DAZN, Globo, Lionsgate Studio, NBCUniversal, Tastemade, and VIZIO.
Amagi is exhibiting at IBC2024. Attendees can join Amagi and experience its innovative media cloud platform, which addresses unified broadcast and streaming TV workflows. Click here to book a meeting with Amagi executives.
About Amagi
Amagi is a next-generation media technology company that provides cloud broadcast and targeted advertising solutions to broadcast TV and streaming TV platforms. Amagi enables content owners to launch, distribute, and monetize live, linear channels on Free Ad-supported Streaming TV and video services platforms. Amagi also offers 24×7 cloud-managed services, bringing simplicity, advanced automation, and transparency to all broadcast operations. Overall, Amagi supports 800+ content brands, 800+ playout chains, and 5,000+ channel deliveries on its platform in over 150 countries. Amagi has a presence in New York, Los Angeles, Toronto, Mexico City, London, Paris, Sydney, Seoul, and Singapore, broadcast operations in New Delhi, and innovation centers in Bengaluru, Zagreb, and Łódź.
About BuyDRM
BuyDRM™ is a leading global provider of content security services for the entertainment, education, enterprise, and hospitality industries. BuyDRM’s KeyOS content security platform powers many of the largest brands in media and technology. With decades of market-leading experience implementing commercial content security solutions and media technologies, BuyDRM has amassed substantial success stories for many of today’s largest brands such as ABC (Australian Broadcasting Corporation), Daily Rounds, Deluxe Digital, EPIX, FuboTV, POPS Singapore, Rakuten Viki, Redbox, Roku, Samsung TV+, SBS Australia, Showtime, Sinclair Digital, Soundcloud, Sportradar, TubiTV and ViaPlay.
For more information, please visit www.buydrm.com.
Amagi Contact:
Aashish WashikarDirector – Corporate Communications Email: [email protected]
Photo: https://mma.prnewswire.com/media/2505092/Amagi_BuyDRM.jpg
 

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