Anti-Money Laundering (AML) Software Market Outlook Forecast 2020-2025
According to IMARC Group’s latest report, titled “Anti-Money Laundering (AML) Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global anti money laundering software market grew at a CAGR of around 16% during 2014-2019. Looking forward, IMARC Group expects the global market to continue its moderate growth during the next five years.
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Anti-money laundering (AML) software refers to an application that enables banks and other financial institutions to analyze customer data and identify ambiguous transactions. It monitors, investigates, and reports suspicious transactions and unauthorized access to financial accounts. The systems equipped with AML software authenticate customer identity and provide real-time alerts to enhance the security and operational efficiency of the organizations. They also track market manipulations, trade of illegal goods, fraudulent activities with public funds and tax evasions, etc. As a result, AML software finds extensive applications across various industries, including banking, financial services and insurance (BFSI), information technology, defense, retail, etc.
Market Growth Drivers:
The anti money laundering software market is primarily driven by the growing incidences of money laundering and cyber-attacks across the globe. Additionally, the implementation of stringent government regulations for mitigating the risk of money laundering activities, particularly in the BFSI sector, is augmenting the demand for AML software market. Furthermore, the integration of AML software with several advanced technologies, such as Internet-of-Things (IoT), machine learning (ML), cloud-based solutions, Big Data analytic tools, etc., is also propelling the anti money laundering software market growth. These advanced technologies enable the concerned authority to track financial data and predict risks and uncertainties. Additionally, the growing prevalence of the Know-Your-Customer (KYC) solution in the BFSI sector is also driving the demand for AML software for blocking unauthorized access and preventing illegal transactions.
Anti Money Laundering (AML) Software Market 2020-2025 Competitive Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the anti money laundering software market has been studied in the report with the detailed profiles of the key players operating in the AML software market.
Some of these key players include:
• ACI Worldwide Inc.
• AML Partners LLC
• BAE Systems Plc
• CaseWare RCM Inc. (CaseWare International Inc.)
• Experian Plc
• Fair Isaac Corporation
• Fidelity National Information Services Inc.
• Fiserv Inc.
• Oracle Corporation
• SAS Institute Inc.
• Tata Consultancy Services Limited (Tata Sons Private Limited).
The report has segmented the global anti money laundering software market on the basis of component, deployment mode, application, end use industry and region.
Breakup by Component:
• Software
• Services
Breakup by Deployment Mode:
• On-premises
• Cloud-based
Breakup by Application:
• Transaction Monitoring
• Currency Transaction Reporting
• Customer Identity Management
• Compliance Management
• Others
Breakup by End Use Industry:
• BFSI
• Defense
• Healthcare
• IT and Telecom
• Retail
• Others
Breakup by Region:
• North America
o United States
o Canada
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa
Do you have any query or specific requirement? Ask to our industry expert @ https://www.imarcgroup.com/request?type=report&id=2785&flag=F
Key highlights of the report:
• Market Performance (2014-2019)
• Market Outlook (2020- 2025)
• The Impact of COVID-19 on the Global Market
• Market Drivers and Success Factors
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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