Global anti-money laundering solution market contains both solutions and service segment. The services segment is projected to surge at a significant growth rate over the forecast period.
Dallas, United States - November 5, 2020 /MarketersMedia/ —
The market size for global anti-money laundering (AML) solution is projected to reach at USD 5 billion by 2025. The factors such as growing strict mandates and compliance requirements, implementation of advanced analytics for the facilitating proactive threat alerts, along with growing adoption of digital payment methods, are responsible for the growth of anti-money laundering solution market growth across the globe. Moreover, increasing financial transactions within the enterprises backed with high-speed internet network availability and increasing concern over enterprise data security are responsible for the growth of anti-money laundering solution industry throughout the globe.
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Anti-money laundering solution is in place to enable appropriate monitoring of various customer activities governing fraudulent transactions. The software is designed to facilitate real-time notifications and alerts in case of unprecedented security breach and fraudulent transactions, thus improving operational efficiency.
With escalated instances of online theft of financial assets globally, anti-money laundering solution is likely to witness rampant adoption and lush growth outlook, a new research report by Adroit Market Research opines. To scout for potential breakthroughs in technological developments the report gauges into ongoing developments and growth enablers that collectively initiate favorable investment decisions.
Anti money laundering software solutions are witnessing vivacious adoption across financial institutes such as banks. However, other enterprises are also favoring adoption of anti-money laundering solution to keep a tap on suspicious financial activities. The various functionalities supported by anti-money laundering solution (AML) include real time monitoring and notifications of any financial activity, identity management and compliance. Collaboration of these functions are absolutely vital to ensure operational boost.
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To combat against novel money laundering instances, market participants in anti-money laundering solution market are offering new technological means such as machine learning and AI integration helps extensively in identifying and minimizing false alerts that are usually observed in conventional anti money laundering solution system.
Tech company FIS has made a recent announcement citing its collaboration with FICO, best known for its astute offerings in financial crime control with advanced capabilities such as predictive analytics with advanced money laundering software. Further, NICE Actimize is also pairing up with TONIK which is a digital bank operational in Singapore to offer advanced money laundering solutions. Developments as such are in place to encourage remunerative returns in anti-money laundering solution market in the coming years.
The major players of the global anti-money laundering solution market are FICO, NICE, ACI Worldwide, BAE Systems, SAS Institute, LexisNexis, FIS Global, Experian, CaseWare, WorkFusion, Fiserv, TransUnion, Oracle, and more. The anti-money laundering solution market is fragmented with the existence of well-known global and domestic players across the globe.
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Segment Overview of Global Anti-Money Laundering Solution Market
Component Overview, 2018-2025 (USD Million)
• Software
• Services
Technology Overview, 2018-2025 (USD Billion)
• Know Your Customer Systems
• Case Management
• Transaction Monitoring
• Auditing & Reporting
• Compliance Management
Application Overview, 2018-2025 (USD Billion)
• BFSI
• Telecom & IT
• Healthcare
• Government
• Manufacturing
• Retail
• Others
Regional Overview, 2018-2025 (USD Billion)
• North America
o U.S.
o Canada
• Europe
o UK
o Germany
o France
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Rest of Asia-Pacific
• Middle East and Africa
o UAE
o South Africa
o Rest of Middle East and Africa
• South America
o Brazil
o Rest of South America
What does the report include?
• The study on the global anti-money laundering solution market includes qualitative factors such as drivers, restraints, and opportunities
• The study covers the competitive landscape of existing/prospective players in the anti-money laundering solution industry and their strategic initiatives for the product development
• The study covers a qualitative and quantitative analysis of the market segmented based on component, technology, and application. Moreover, the study provides similar information for the key geographies.
• Actual market sizes and forecasts have been provided for all the above-mentioned segments.
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Source: MarketersMedia
Release ID: 88984555
