Global Anti-Money Laundering Software Market is expected to grow at a Compound Annual Growth Rate (CAGR) of +10.37%. The base year considered for the study is 2018 and the forecast period considered is 2018 To 2025.
Anti-money laundering refers to a series of procedures, laws and regulations designed to stop the generation of income through illegal actions. Anti-Money Laundering (AML) Software Market – Analysis and Forecast Focus on software types (transaction monitoring software, currency trading reports, customer identity management, compliance management and others) and deployment types (on-premise and cloud) fast finance Advances in services and technology have facilitated effortless and rapid currency transactions worldwide. Despite this, financial institutions face the risk of money laundering, so the task of combating money laundering is more important and urgent than ever. According to the United Nations Office on Drugs and Crime (UNODC), approximately 2% to 5% of global gross domestic product is cleaned within one year, amounting to between $800 billion and $2 trillion. Governments are forming their own regulatory agencies to address money laundering. For example, the United Kingdom established the National Crime Agency (NCA) in 2013 to ensure the reduction of criminal activities such as money laundering by overseeing high-end clients including lawyers, trusts and companies forming agents, investment bankers and accountants.
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Key players in the global anti-money laundering software are
Name Scan, Neurocom group, Siron, Verafin Inc, NICE, BAE Systems, ACI Worldwide, Inc, Trulioo, SAS Institute Inc., Accenture Inc, and Fiserv, Inc, Ascent Technology Consulting, East Nets, FICO TONBELLER, Experian, Oracle Corp, Opentext
Implementation of anti-money laundering software has been mandated by regulators around the world. The primary purpose of anti-money laundering software is to protect your organization against money laundering and ensure that your organization is fully compliant with applicable laws and regulations. Millions of dollars are invested in anti-money laundering solutions to stop and regulate money laundering activities each year. It is also expected to integrate Big Data analysis and automated transaction monitoring systems with anti-money laundering software to support market growth during the forecast period. However, the implementation costs and challenges facing data interpretation are some of the factors that inhibit the growth of the anti-money laundering software market.
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Segmentation on the basis of industry:
IT and Telecommunications
Transportation and Logistics
Defense and Government
This is due to an increase in financial crime that increases the deployment of solutions to detect suspicious activity and enhance the security infrastructure. However, the Customer Identity Management segment accounts for more than one-third of the total market share in 2018 and is expected to remain a lion’s shareholder by 2025. This is from simplified workflows, ease of detection of suspicious activity, and reduced false positives. The report also analyzes currency transaction reporting and compliance management.
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Derived Anti-money Laundering Software Market Types:
Transaction Monitoring Software
Currency Transaction Reporting (CTR) Software
Customer Identity Management Software
Compliance Management Software
Anti-money Laundering Software Market Segment by Regions includes:
The Anti-money Laundering Software market report justifies the following purposes of a reader:
Precise analysis for reforming competitive factors
A future perspective on numerous elements driving and controlling market growth
Helps to perceive the segmentation of key products and their future
A six years projection based on an evaluation of how the market is projected to grow
Assistance for making vital business decisions by grasping intact insight of Anti-money Laundering Software market
Table of Contents:
Global Anti-Money Laundering Software Market Research Report 2018-2025
Chapter 1: Anti-Money Laundering Software Market Overview
Chapter 2: Global Economic Impact on Industry
Chapter 3: Anti-Money Laundering Software Market Competition by Manufacturers
Chapter 4: Global Production, Revenue (Value) by Region
Chapter 5: Global Supply (Production), Consumption, Export, Import by Regions
Chapter 6: Global Production, Revenue (Value), Price Trend by Type
Chapter 7: Global Market Analysis by Application
Chapter 8: Manufacturing Cost Analysis
Chapter 9: Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10: Marketing Strategy Analysis, Distributors/Traders
Chapter 11: Anti-Money Laundering Software Market Effect Factors Analysis
Chapter 12: Global Anti-Money Laundering Software Market Forecast
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