How Regulatory Concerns Are Sparking Digital Innovation

March 25, 2019 at 03:00PM

As the U.S. federal government tries to stem fraud and other losses in benefit programs, a new mobile app might just provide a way to do that. While that happens, the payments industry is upping its game against counterfeit goods sold online. And with the growth of the Internet of Things comes more regulatory pressure and concerns. Finally, one Western European country has decided to take a slower approach when it comes new digital payment regulation.

Data:

2.7 billion: Number of customer records at risk after a recent breach due to password flaws

$7.2 billion: Global RegTech market’s projected value by 2023

$500 billion: Annual sales from fake fashion items and accessories

35 billion: Estimated number of connected IoT devices in use by 2020

$534 billion: Projected value of the IoT healthcare market by 2025

via PYMNTS.com

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