(EMAILWIRE.COM, February 03, 2019 ) Anti-Money Laundering Software Market Overview :
Anti-money laundering (AML) refers to a set of procedures, which aim to detect and combat the practice of money laundering. AML solutions enable organizations to manage end-to-end AML risk by efficiently correlating financial crime activities. These solutions vary based on their functionalities, which include transaction monitoring, currency transaction reporting, customer identity management, and compliance management. With rise in need of banks and insurance companies to meet regulatory requirements for fraud detection and money laundering, it has become crucial for financial organizations to deploy variety of software applications to prevent such frauds.
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The report provides the profiles of key players operating in the market such as ACI Worldwide, Inc., Ascent Technology Consulting, Eastnets Holding Ltd., FICO TONBELLER, NICE Actimize, Regulatory DataCorp, Inc., Safe Banking Systems LLC, SAS Institute Inc., Thomson Reuters Corporation, Truth Technologies, Inc., and Verafin Inc.
Factors such as increase in money laundering cases, enforcement of government regulations to implement AML solutions, and growth in IT expenditure among financial institutions drive the growth of the market. However, dearth of AML professionals is expected to impede the market growth. On the contrary, increased market for cloud-based AML solutions and emergence of artificial intelligence in AML are expected to present major opportunities for expansion of the market in future.
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The global anti-money laundering software market is segmented based on component, product, deployment type, and region. On the basis of component, the market is bifurcated into software and services. By product, it is divided into transaction monitoring, currency transaction reporting, customer identity management, and compliance management. Depending on deployment type, it is categorized into cloud and on-premise. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits for Anti-Money Laundering Software Market :
The study provides an in-depth analysis of the global anti-money laundering software market and current & future trends to elucidate the imminent investment pockets.
Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided.
Porters five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
The quantitative analysis of the global anti-money laundering software market from 2017 to 2025 is provided to determine the market potential.
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Anti-Money Laundering Software Key Market Segments :
Currency Transaction Reporting
Customer Identity Management
By Deployment Ttpe
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Rest of Europe
Rest of Asia-Pacific