About the Directory
The Canadian RegTech Association is a non-profit organization focused on solving regulatory challenges through collaborative efforts between key RegTech stakeholders: regulated entities, technology vendors, regulatory bodies, government, and professional service providers.
A recent report from Juniper Research, predicts that spending on RegTech platforms will increase from an estimated $18B this year to $115B by 2023 and that investment is forecast to rise by an average of 45% per annum over the next five years, far higher than the 17% spent on compliance as a whole, reflecting a rapid shift away from traditional compliance methods. It is estimated that RegTech will account for 40% of businesses total compliance spending by 2023.
We believe that Canada has a sizable RegTech industry which, given these predicted growth figures, can be a significant industry both domestically and for export globally. Through the creation of the directory, we want to demonstrate both within Canada and internationally that Canada is a significant player in the industry. In addition, the directory will serve as a means for RegTech service providers to make their product and services known to a wider audience.
A recent report from Juniper Research, predicts that spending on RegTech platforms will increase from an estimated $18B this year to $115B by 2023 and that investment is forecast to rise by an average of 45% per annum over the next five years, far higher than the 17% spent on compliance as a whole, reflecting a rapid shift away from traditional compliance methods. It is estimated that RegTech will account for 40% of businesses total compliance spending by 2023.
We believe that Canada has a sizable RegTech industry which, given these predicted growth figures, can be a significant industry both domestically and for export globally. Through the creation of the directory, we want to demonstrate both within Canada and internationally that Canada is a significant player in the industry. In addition, the directory will serve as a means for RegTech service providers to make their product and services known to a wider audience.