In the near future, Asia-Pacific is anticipated to take the lead in RegTech growth and innovation. This trend is being driven by the swift development of emerging Asian economies and their financial systems, as well as greater investment in new technologies and digital transformation. The APAC region is anticipated to have the highest growth rate as the worldwide RegTech market is estimated to develop at a rate of over 20 percent per year to USD 16 billion by 2025, up from USD 6.3 billion in 2020. While a complicated financial ecosystem and an increase in complex regulations are driving the development of RegTech in industrialized nations, under-resourced regulators are largely assisting developing economies. For instance, APAC countries like Singapore are emerging as a hub of FinTech innovation with a maturing market, owing to its strong government support, progressive rules, and abundance of talent and capital.
RegTech has demonstrated its value as a business enabler in the Asia Pacific region as part of broader digital transformation projects. The pandemic has accelerated the development of APAC’s RegTech scenario, with digitalization for organizations forcing many to steer away from legacy systems to adapt. As the RegTech industry thrives, it is witnessing a surge in demand for employing advanced technology for effective compliance.
With a mind to assist organizations in choosing the appropriate RegTech solutions suited to their specific needs, this edition of CIOReview APAC brings you the stories of some of the most successful RegTech solutions providers in APAC like Proxymity and Clausematch that deliver the best outcomes for their clients. This edition also offers a combination of thought leadership articles from subject-matter experts like Kirill Odintsov, Head of Data Science at Home Credit Indonesia, and Boon Siew Han, Chief Information Officer Asia Pacific, Schaeffler, with real-life stories on fostering robust partnerships and exclusive insights from CIOs and CXOs. We hope this edition will provide you with assistance in choosing the right RegTech solution providers according to your requirements. We present to you the Top 10 RegTech Solutions Providers in APAC – 2022.
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