Author of the article:
Published Dec 24, 2024 • 6 minute read
Article content
Article content
DUBLIN — The “Canada RegTech Business and Investment Opportunities Databook – 50+ KPIs on RegTech Market Size, By Industry, By Technology, By Type of Product, By Deployment, By Product Offering, Market Share – Q3 2024 Update” report has been added to ResearchAndMarkets.com’s offering.
The regtech industry in Canada is expected to grow by 18.7% on annual basis to reach US$499.93 million in 2024.
The regtech industry is expected to grow steadily over the forecast period, recording a CAGR of 11.9% during 2024-2029. The regtech in the country will increase from US$421.13 million in 2023 to reach US$877.60 million by 2029.
Advertisement 2
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
This report provides a detailed data centric analysis of regtech industry, covering market opportunities and risks. With over 50+ KPIs at country level, this report provides a comprehensive understanding of regtech market dynamics, market size and forecast, and market share statistics.
The RegTech landscape in Canada is rapidly evolving, driven by technological advancements and increasing regulatory pressures. As organizations seek to enhance their compliance capabilities, the demand for innovative RegTech solutions will continue to grow. While challenges such as funding limitations and regulatory complexity persist, opportunities for collaboration and growth abound. By embracing advanced technologies and fostering partnerships, the Canadian RegTech sector is well-positioned to become a global leader in regulatory innovation, benefiting organizations, regulators, and consumers.
Trends in RegTech
Recent Regulatory Technology (RegTech) trends in Canada reflect a dynamic landscape focused on enhancing compliance across various sectors.
Key trends include:
- Proactive Compliance Solutions: Canadian businesses are increasingly adopting proactive RegTech solutions that automate compliance processes, enabling organizations to anticipate regulatory changes and manage risks effectively. This shift helps reduce reliance on traditional, reactive compliance methods.
- Integration of Advanced Technologies: Artificial intelligence and machine learning are becoming more prevalent in the Canadian RegTech sector. These technologies enhance data analysis and risk assessment, allowing firms to monitor real-time compliance and improve decision-making processes.
- Collaboration with Regulatory Bodies: There is a growing trend of collaboration between RegTech companies and regulatory authorities in Canada. This partnership aims to develop innovative compliance solutions that address specific regulatory challenges, fostering a more efficient regulatory environment.
Example – A notable example is RegTech Canada, an organization that connects RegTech innovators with financial institutions and regulators. They facilitate partnerships and knowledge sharing to enhance compliance solutions, showcasing the collaborative efforts driving RegTech advancements in Canada’s regulatory landscape.
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
Advertisement 3
Article content
Recent Launches
- Quantexa’s Enhanced AI Solutions – In 2023, Quantexa, a leading RegTech company based in the UK, launched enhanced AI-driven solutions to improve anti-money laundering (AML) and know your customer (KYC) processes. The new offerings leverage advanced machine learning algorithms to analyze vast amounts of data and accurately identify potential risks. Quantexa’s platform provides organizations with real-time insights, enabling them to make informed decisions regarding customer risk profiles and regulatory compliance.
- The enhancements include improved entity resolution capabilities, which allow businesses to create a single view of customers by linking disparate data sources. This innovation significantly reduces false positives in transaction monitoring and enhances the overall efficiency of compliance operations. By integrating these advanced AI solutions, Quantexa aims to help financial institutions navigate the increasingly complex regulatory landscape while ensuring robust compliance with AML and KYC requirements.
Partnerships and Collaborations
- Napier Partners with the Canadian Regulatory Technology Association – In 2023, Napier, a RegTech company specializing in anti-financial crime solutions, announced its partnership with the Canadian Regulatory Technology Association (CRTA). This collaboration aligns with Napier’s commitment to providing innovative regulatory and compliance solutions in North America.
- As the newest member of the CRTA, Napier aims to drive the industry forward in cooperation with key Canadian RegTech leaders. The partnership also represents the latest stage of Napier’s expansion in North America, positioning the organization for continued growth in 2023. This follows a year in which Napier secured several prestigious Canadian client agreements and was recognized as ‘Best AML Transaction Monitoring Innovation’ by Aite-Novarica Group and ‘RegTech of the Year’ by the Fintech Awards London.
Reasons to buy
- Gain comprehensive Market Insights: Access detailed analyses of RegTech spending across various industries, including banking, healthcare, and retail. This understanding will enable you to allocate budgets effectively and prioritize investments based on market demand.
- Product and Technology Breakdown: Explore various RegTech products, such as identity verification solutions, compliance management platforms, and fraud detection systems. Insights into the adoption of technologies like AI, blockchain, and RPA will inform your product development and integration strategies.
- Industry-Specific Applications: Gain tailored insights on how different sectors implement RegTech solutions. By examining industry-specific needs, you can better align your offerings to meet regulatory requirements and enhance operational efficiency.
- Market Share and Competitive Analysis: Understand the competitive landscape through in-depth market share analysis among RegTech companies. This information will assist in identifying potential partnerships and benchmarking your organization against key market players.
- Deployment Models and Compliance Focus: Review various deployment options, including on-premise, hybrid, and service models, to determine the best fit for your organization. Additionally, grasp the regulatory landscape to ensure compliance management strategies are both proactive and effective.
Advertisement 4
Article content
Key Attributes:
Report Attribute | Details |
No. of Pages | 177 |
Forecast Period | 2024 – 2029 |
Estimated Market Value (USD) in 2024 | $499.9 Million |
Forecasted Market Value (USD) by 2029 | $877.6 Million |
Compound Annual Growth Rate | 11.9% |
Regions Covered | Canada |
Scope
Regulatory Compliance Spending
Regulatory Compliance Spending By Industry
- Banking and Financial Services
- Insurance
- Healthcare
- Telecommunications
- Retail
- Transportation and Logistics
- Real Estate
- Government and Public Sector
- Other Industries
RegTech Spending
RegTech Companies Market Share
By Type of Products
- Identity Verification Solutions
- Compliance Management Platforms
- Automated Reporting Tools
- Transaction Monitoring Systems
- Risk Assessment Tools
- Fraud Detection Systems
- Data Protection Technologies
- Training and E-Learning Platforms
- Regulatory Intelligence Tools
- Workflow Automation Solutions
- Other Products
By Industry
- Banking and Financial Services
- Insurance
- Healthcare
- Telecommunications
- Retail
- Transportation and Logistics
- Real Estate
- Government and Public Sector
- Other Industries
By Technology
- Artificial Intelligence (AI)
- Big Data Analytics
- Robotic Process Automation (RPA)
- Blockchain Technology
- Cloud Computing
- API Integrations and Biometric Authentication
- Data Encryption and Security Technologies
- Data Visualization Tools
- Other Technology
By Industry and Type of Products
Banking and Financial Services and Type of Products
- Identity Verification Solutions
- Compliance Management Platforms
- Automated Reporting Tools
- Transaction Monitoring Systems
- Risk Assessment Tools
- Fraud Detection Systems
- Regulatory Intelligence Tools
- Workflow Automation Solutions
- Data Protection Technologies
- Other Products
Insurance and Type of Products
- Identity Verification Solutions
- Compliance Management Platforms
- Automated Reporting Tools
- Transaction Monitoring Systems
- Risk Assessment Tools
- Fraud Detection Systems
- Data Protection Technologies
- Other Products
Healthcare and Type of Products
- Compliance Management Platforms
- Data Protection Technologies
- Training and E-Learning Platforms
- Other Products
Telecommunications and Type of Products
- Compliance Management Platforms
- Data Protection Technologies
- Other Products
Retail and Type of Products
- Fraud Detection Systems
- Data Protection Technologies
- Other Products
Transportation and Logistics and Type of Products
Advertisement 5
Article content
- Transportation and Logistics Compliance Management Platforms
- Risk Assessment Tools
- Other Products
Real Estate and Type of Products
- Compliance Management Platforms
- Workflow Automation Solutions
- Other Products
Government and Public Sector and Type of Products
- Compliance Management Platforms
- Regulatory Intelligence Tools
- Other Products
Technology and Type of Products
Artificial Intelligence (AI) Technology and Type of Products
- Identity Verification Solutions
- Fraud Detection Systems
- Risk Assessment Tools
- Regulatory Intelligence Tools
- Other Products
Big Data Analytics Technology and Type of Products
- Compliance Management Platforms
- Automated Reporting Tools
- Transaction Monitoring Systems
- Other Products
Robotic Process Automation (RPA) Technology and Type of Products
- Compliance Management Platforms
- Workflow Automation Solutions
- Other Products
Blockchain Technology and Type of Products
- Identity Verification Solutions
- Automated Reporting Tools
- Other Products
Cloud Computing Technology and Type of Products
- Compliance Management Platforms
- Automated Reporting Tools
- Other Products
API Integrations and Biometric Authentication and Type of Products
- Identity Verification Solutions
- Automated Reporting Tools
- Other Products
Data Encryption and Security Technologies and Type of Products
- Protection Technologies
- Fraud Detection Systems
- Other Products
Data Visualization Tools and Type of Products
- Regulatory Intelligence Tools
- Regulatory Reporting
- Automated Reporting Tools
- Other Products
By Deployment
- Service Model
- On-premise Model
- Hybrid Model
By Product Offering
- Service
- Solution
By Company Size
- Small Company
- Medium Company
- Large Company
For more information about this report visit https://www.researchandmarkets.com/r/angnf7
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241224135579/en/
Contacts
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
[email protected]
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Article content