The RegTech industry continues to mature, showing another year of strong growth. For the second year, data reveals that customer expectations remain the primary driver for RegTech adoption. The report also shows regulators continue to be highly engaged, while Fraud and Scams have entered the top five risks addressed by RegTech, reinforcing what we have anecdotally known for some time. Additionally, new sectors such as healthcare and telecommunications are beginning to recognise the advantages of RegTech.

Our next steps as a global association include a focus on AI, specifically Generative AI applications for RegTech and SupTech. We aim to collaborate globally to highlight the role of innovative technology in reducing risks related to Fraud and Scams. This includes working with global institutions to showcase solutions that reduce this burden enabling them to focus on serving their customers. We will also partner with regulatory agencies to ensure that financial systems remain stable while keeping pace with the latest technology.