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AI in Regtech Market Forecast to Reach $3.3 Billion by 2026 Banks Are Switching to Be Data Driven Company That Is the Biggest Driving Force to Adopt Regtech Along With AI.
BriefingWire.com, 4/21/2021 - The market for AI in Regtech is forecast to reach $3.3 billion by 2026, growing at a CAGR of 36.1% from 2021 to 2026. The market will be driven by the ability of artificial intelligence to improve data governance, business risk, and regulatory compliance. The global Regtech market is expected to grow to the CAGR of 48% by 2018-2020. Leading banks HSBC, Deutsche Bank and JP Morgan spends over $ 1 billion annually on Regtech. Banks are switching to be data driven company that is the biggest driving force to adopt Regtech along with AI. Regtech is not dealing with regulatory obligation effectively but also reduce the associated cost and risk.
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