BFSI Security Market Size, Share, By Security Type (Physical Security, Information Security, and Blockchain), By Deployment Type (On-premises, Cloud-based, and Hybrid), By Application (Fraud Detection and Prevention, Regulatory Compliance, Risk Management, and Identity and Access Management), By Technology (Artificial Intelligence (AI) and Machine Learning (ML), Blockchain, Biometrics, and Encryption), and By Region - Trends, Analysis and Forecast till 2034

Development of Reg-Tech solutions

• This is an opportunity to develop RegTech solutions that automate the compliance processes for institutions to realize their goal of extracting value from the added complexity regulatory frameworks impose on the BFSI sector. Security systems featuring characteristics related to regulatory compliance-such as automated reporting, real-time auditing, or risk assessment, which could alleviate institutions' complex nature of navigating ever-changing financial regulations, amount to easing institutions' navigation in a complex sea of constantly changing financial regulations. The role of RegTech solutions in increasing operational efficiency with limited risks of penalties is thus crucial.