The report found that this growth is being fuelled using AI to automate manual tasks and the transition to digital onboarding. AI’s capabilities in automating manual tasks will allow businesses to begin to improve their levels of spending on regulatory compliance.
The new research, Regtech: Market Opportunities, Challenges & Forecasts 2021-2025, found that nearly 330 million new bank accounts will be opened via digital onboarding in 2025, from 184 million in 2020.
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