Navigating Compliance: The Evolution of Regulatory Technology in 2024
The regulatory technology (RegTech) market has seen significant growth in recent years, with expectations of continued expansion. From $6.71 billion in 2023, the market is projected to grow to $8.16 billion in 2024, reflecting a compound annual growth rate (CAGR) of 21.5%. This growth stems from several factors, including the rise of fintech startups, regulatory changes after financial crises, and the shift from manual to automated compliance processes.
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