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North America Is Expected To Account For Largest Share Of Global Regtech Growth Through 2025

Palm Beach, FL – February 4, 2021 – Regulatory Technology (a.k.a. RegTech) is any technology that aims to standardize regulatory processes, create unambiguous interpretations of the regulations, and, most important — automate the compliance process. RegTech is a sub-class of FinTech and has gained prominence since 2015. Rising penalties for non-compliance with regulations are anticipated to further fuel the growth. RegTech solutions with real-time compliance analysis help connect regulators and businesses while protecting the interests of consumers. The Institute of International Finance has defined RegTech as the use of new technologies to meet compliance and regulatory requirements more efficiently. RegTech involves the use of tools to enhance the stringency of regulations and minimize the compliance risks associated with the business. According to a study of the World Bank, a robust regulatory framework can help boost GDP growth by more than 2% annually. In addition to the rising demand for risk management, the additional costs of managing compliance procedures and increasing demand for regulating business processes are expected to drive the regulatory technology market growth over the forecast period.  A report by Grand View Research projected that the global RegTech market size was valued at USD 2.87 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 52.8% from 2019 to 2025. High compliance costs and growing demand for regulatory intelligence are expected to contribute to the adoption of regulatory technology (RegTech) through 2025.  Active Companies from around the market with recent developments this week include:  LexinFintech Holdings Ltd. (NASDAQ: LX), Xalles Holdings Inc. (OTCPK: XALL), Fiserv, Inc. (NASDAQ: FISV), Future FinTech Group Inc. (NASDAQ: FTFT), GameStop Corp. (NYSE: GME).

 

The Grand View Research report said: “The compliance costs incurred in financial institutions have increased drastically over the past few years. A reduction in these costs and compliance failures enables enhancements in business processes, in terms of improved response times, and helps increase Return on Investment (ROI). The factors considered while choosing an appropriate RegTech solution are finding a solution for appropriate AI usability, prioritizing solutions that perform targeted compliance, and avoiding buying AI tools for simplifying data. RegTech also helps in setting business objectives in congruence with values and risks and in achieving the set goals while eliminating the risks associated with business processes.”

 

Xalles Holdings Inc. (OTCPK: XALL) BREAKING NEWS:  Xalles Holdings to Expand Financial Accounting Compliance Automation & Risk Management Solutions with Protominds Acquisition – Xalles Holdings Inc., a fintech holding company providing technology and financial services solutions, will acquire Protominds, Inc. (“Protominds”) and its wholly owned subsidiary Protominds Software Solutions Private Limited in a share purchase agreement.

 

Headquartered in Milpitas, California and with offshore operations in India, Protominds is a leading fintech consulting and services company with a proprietary full-service regulatory cloud-based platform that offers reporting capabilities for post-audit financial transactions. The unified regulatory standards compliance solution is called FiNiCS. FiNiCS is a financial accounting compliance automation solution aimed at helping enterprises to optimize the cost of change involved with financial regulations with its compliance automation solution. Through its Regulation-as-a-Service (RaaS), enterprise clients are able to process large volumes of granular data and output risk reports to facilitate more meaningful analysis.

 

“Protominds looks to expand its market presence through the Xalles larger business development footprint and scale business globally”, commented Sridhar Raju and Venkatesh Kirupakaran, the Co-founders of Protominds, Inc.

 

“The Protominds acquisition perfectly complements and further enhances the services capabilities of the Crown Solutions acquisition and the existing subsidiaries of Xalles”, commented Venugopal Thiyyagura, President of VGR Technology Partners.

 

“The FiNiCS platform is a great fit with the Xalles mission to grow our fintech product and services offerings”, stated Thomas Nash, CEO of Xalles Holdings. He continued, “we see tremendous synergy with the existing and planned subsidiaries and welcome the Protominds team into our organization”.

 

The acquisition will make Protominds a wholly owned subsidiary of VGR Technology Partners within Xalles Technology and adds a unique regulatory compliance automation & data analytics product to the company portfolio. The acquisition is targeted to be completed by February 28, 2021.   Read this full press release for XALL at:  https://www.financialnewsmedia.com/news-xall/

 

In the industry developments and happenings in the markets include:   

  

LexinFintech Holdings Ltd. (NASDAQ: LX) recently announced that based on the Company’s preliminary assessment of the current business and market conditions, the Company expects total loan originations for the fiscal year 2021 to be between RMB 220 billion and RMB 230 billion. This is Lexin’s current and preliminary view, which is subject to changes and uncertainties. In addition, Lexin is also pleased to announce that the Company’s 2020 loan originations reached RMB 176.5 billion, achieving the Company’s previously stated guidance.

 

“During the past year, through our comprehensive efforts to innovate throughout our product and service offerings, Lexin overcame the pressures brought about by the ongoing COVID-19 pandemic. We have not only achieved our pre-pandemic loan origination guidance, but also reached a higher level in the quality of our growth and the structure of our revenues,” said Mr. Jay Wenjie Xiao, Lexin’s chairman and chief executive officer. “This year, Lexin will continue to improve our ‘To Bank’ technology services, and expand our customer acquisition, systems construction, operations management and other related initiatives, to enable a more open and constructive environment to create value for our financial institution partners.”

 

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, recently announced the completion of its acquisition of Ondot Systems, Inc.  “Closing this transaction further expands our digital capabilities, enhancing our suite of integrated solutions to enable clients of all sizes to deliver frictionless, digital-first and personalized experiences to consumers,” said Frank Bisignano, President and Chief Executive Officer of Fiserv.

 

Fiserv, Inc. aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale solution. Fiserv is a member of the S&P 500® Index and the FORTUNE® 500 and is among FORTUNE World’s Most Admired Companies®.

 

Future FinTech Group Inc. (NASDAQ: FTFT) a leading blockchain based e-commerce business and a fintech service provider, recently announced that DCON DigiPay Limited (“DCON”), a company incorporated in Japan and a 60% owned subsidiary of the Company, has completed the upgrade of its mBTC system and technology which can now be used by e-commerce platforms that plan to accept Bitcoin (BTC) as a payment method from consumers.

 

The mBTC system is a blockchain based system to exchange mBTC and BTC which has a 1,000,000:1 exchange rate pegged against Bitcoin, so it can be used by consumers in real life. Bitcoin has a very high market value and it is not practical as an online shopping payment method.  DCON originally developed mBTC as a payment platform for certain blockchain based communities and has adapted its technology to be suitable for e-commerce platforms. The mBTC is designed on the real name blockchain basis which will help its owner recover his or her funds despite the anonymous nature of BTC.

 

GameStop Corp. (NYSE: GME) just recently announced that it has appointed Matt Francis to the newly-created role of Chief Technology Officer. Mr. Francis has a start date of February 15, 2021.  Mr. Francis brings more than two decades of experience in e-commerce and consumer technology to GameStop. Most recently, he was an Engineering Leader at Amazon Web Services. He previously held senior-level technology roles at companies such as QVC and Zulily. At GameStop, Mr. Francis will be responsible for overseeing e-commerce and technology functions.

 

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This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

 

Contact Information:

Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757

 

SOURCE Financialnewsmedia.com

 

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