Source: Fintech Global
Alongside this considerable industry growth has been the inevitable expansion of market players – with new technologies providing new opportunities for nimble startups in the space.
With this all considered, it is likely the industry will eventually undergo a period of consolidation as certain market players suck up market share and become one-stop shops for financial institutions. Is such a consolidation inevitable?
“Consolidation is a natural process in any rapidly evolving and expanding industry,” said Flagright growth manager Joseph Ibitola. “In the case of RegTech, the primary drivers behind this trend are the increasing regulatory demands, the need for more sophisticated compliance solutions, and the desire to streamline operations to achieve greater cost efficiency.”
As the industry matures, Ibitola underlines, larger players may find it advantageous to acquire smaller, innovative firms to bolster their product offerings, strengthen their market position and expand into new verticals…
Read full article: https://fintech.global/2023/05/04/is-consolidation-inevitable-for-the-regtech-industry/
