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Can the RegTech Segment Shrug Off the Collapse of SVB and its Collateral Damage?

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The collapse of Silicon Valley Bank (SVB) and the resulting damage to confidence in the banking sector – which may have sparked the unravelling of Credit Suisse – has roiled markets globally. It’s also led to fears about the future of the FinTech and RegTech suppliers.

With many suppliers in the California tech space and indeed beyond choosing to bank with SVB, the bank’s collapse led to speculation that early-stage RegTech suppliers would find themselves unable to access cash, in some cases resulting in closure. That scenario doesn’t appear to have played out to any great extent, although it surely has made fund-raising even more difficult in what was already a challenging environment.

But according to a report from US analyst house Analytics Market Research, the RegTech market is expected to grow at a compound average growth rate of 52.80% in the forecast period of 2021 to 2028.

The AMR report cites “an increased focus on financial regulations, increased adoption of cutting-edge technology, and a rapid development in the level of cooperation between national regulators and financial institutions [as] some of the key factors influencing the growth of the RegTech market.”

Says the AMR report: “Regulators are requesting data in greater depth and frequency as financial oversight becomes more and more data-driven. The kind of high-quality data needed to evaluate adherence to the majority of prudential regulations, which are frequently quantitative and call for structured, well-defined, precise, and exhaustive data.”

Furthermore, the report says, “banks have made and are still making large investments in the necessary data and analytical IT systems. RegTech solutions for financial services are becoming more and more in demand, which is driving the market ahead. Demand for RegTech solutions is rising as a result of an increase in the penalties levied against major financial institutions as well as cases of fraud and money laundering involving reputable companies. Reporting standards and transparency are more crucial than ever for firms to maintain compliance as regulatory entities are keeping a close eye on the entire industry.”

The AMR report provides analysis of some 25 global RegTech suppliers operating across a number of functional areas, including compliance & risk management, identity management, regulatory reporting, fraud management and regulatory Intelligence.

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