RegTech Global Market Report 2023: Industry to Reach $43.57 Billion by 2031 at a 14.6% CAGR (yahoo.com)

Find the detailed summary of the report here 
https://www.researchandmarkets.com/reports/5720995/regtech-global-market-opportunities-and?utm_source=CI&utm_medium=PressRelease&utm_code=mthwqm&utm_campaign=1811919%2B-%2BRegTech%2BGlobal%2BMarket%2BReport%2B2023%3A%2BIndustry%2Bto%2BReach%2B%2443.57%2BBillion%2Bby%2B2031%2Bat%2Ba%2B14.6%25%2BCAGR&utm_exec=como322prd

The RegTech Association member Encompass Corporation has just launched their Trends in Financial Crime Compliance Whitepaper.

It revealed several key points including:

• Regulatory pressure concentrated on areas such as Ultimate Beneficial Ownership (UBO)
• 2022 also saw an increase in notable fines against firms for non-compliance, especially crypto exchanges, brokers, asset managers and securities firms, and in the UK and Asia.

To get your copy of the whitepaper, click here.

The RegTech Association member Kyckr has been acquired by Richard White, the founder of the logistics giant WiseTech Global. 

Kyckr allows businesses to verify their customers with instant access to global primary source company data.

Read the full Finextra article here.

DFS Exchange is a newly-launched engagement platform to foster the growth of responsible innovation in financial services in New York. Through DFS Exchange, financial innovators and stakeholders are invited to meet directly with DFS subject-matter experts to establish an open and ongoing dialogue and experience DFS as a transparent, innovation-friendly regulator. Through these sessions, DFS hopes to learn about emerging products, services, business lines and/or practices, and technologies to accelerate the financial industry; their promise for New Yorkers and the New York economy; and their potential regulatory needs, merits, and challenges. Sessions will be held either virtually or in-person at NYDFS’s New York City offices and are open to all entities, including, but not limited to, financial institutions, non-bank institutions, firms, and technology companies, and consumer advocacy organizations, universities, or nonprofits. If you are interested in meeting please complete the very brief interest form to schedule a 1:1 meeting.  Questions, please email DFS Innovation at innovation@dfs.ny.gov.

On 9 January, CDO Trends delved into the RTA 2022 Industry Perspectives Research Report, launched in partnership with EY.

The report look at the emerging trends from buyers, sellers and regulators.

For the full article, click HERE. For the research report, click HERE.

The RegTech Association CEO Deborah Young recently spoke with Crowdfund Insider about the Future of RegTech. The article discusses:

• The inception of the association
• Current RegTech trends
• How RegTech is currently utitlised
• How regulators are engaging with RegTech

As we round this year out, we are pleased to announce our RTA Industry Perspectives Report for 2022.  This report is delivered in partnership with our member, EY.

The report shows progress is positive but also that there's more work to be done. The foreword highlights this. Some of the most powerful insights include:

• Increased staffing levels despite the pandemic
• Most RegTechs are experiencing strong growth in revenue
• Reduction in the time to Signed POC/Trial across all customers
• Increase in at least 1 female founder in the business
• The continued shift from bootstrapped self funding to sophisticated venture capital
• The continued resilience throughout the pandemic
• Most buyers expecting their organisations or clients to have an increased appetite for RegTech solutions that address new risk areas

The RTA and EY will facilitate a webinar in the new year to unpack the findings - stay tuned.  For now, enjoy reading HERE.

Nick Boudrie, Co-founder and CEO of LAB Group shares their journey on becoming an international RegTech provider.

Listen to the full podcast here.

Applications are currently open for the National Agriculture Traceability Regulatory Technology (RegTech) Research and Insights grant round.

Murray Watt, Minister for Agriculture, Fisheries and Forestry said the new $6 million RegTech Research and Insights grant round would contribute to enhancing agricultural traceability and supporting the growth of the agricultural sector.

• $6 million of funding is available in total.
• Grants of between $50,000 to $500,000 are available.
• Applications close on 14 December 2022.
• Grant activities will run for up to 2 years (2023 – 2025).
• The grant round aligns with the objectives of the draft
• National Agricultural Traceability Strategy 2023-2033.
• For more information, click here.

The RegTech Association joins The Fintech Open Source Foundation (FINOS) as members. FINOS is an independent  non-profit organization whose purpose is to accelerate collaboration and innovation in financial services through the adoption of open source software, standards and best practices.

Read more here.