Press release
Global Anti-Money Laundering Software Market Size is projected to cross USD 2 billion By 2025; Top Key Players Are Oracle Corporation, Fiserv, Inc., Accenture Inc., SAS Institute Inc., Thomson Reuters Corporation, SunGard, FICO TONBELLER, Ascent Technolog
Global Anti-Money Laundering Software Market Size
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On-premise is projected to be a preferred deployment type over cloud during the forecast period. Concerns over security and data theft for cloud deployment is the reason for slower adoption. These problems are expected to be solved coupled with other benefits such as pay-per-use model and cost-effectiveness and is projected to increase adoption of cloud in anti-money laundering software. The cloud segment is projected to grow at a CAGR of 12.1% during the forecast period in the global anti-money laundering software market.
According to the United Nations Office on Drug and Crime, money laundering worldwide is estimated to be 2% of the global GDP. To counter these money laundering cases which are financing to terror activities and drug trafficking government have implemented various acts and rules in many regions for the financial institution. For instance, in North and Central America, USA Patriot Act and Bank Secrecy Act in the U.S., Proceeds of Crime (Money Laundering) in Canada and Federal Law for the Prevention and Identification of Operations in Mexico are the reason major financial institutions in the region have widely adopted to anti-money laundering software. Thus, North and Central America had the largest market in 2017 and is projected to grow at a CAGR of 8.46% during the estimated period in global anti-money laundering software market.
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The key players associated in the global anti-money laundering software market are Oracle Corporation, Fiserv, Inc., Accenture Inc., SAS Institute Inc., Thomson Reuters Corporation, SunGard, FICO TONBELLER, Ascent Technology Consulting, EastNets and others. Deploying the latest AML solution for their clients is a key strategy adopted by the players in the market to strengthen their market position. For instance, in 2017, Fiserv, Inc. announced that it had deployed a cloud-based version of Fiserv AML Risk Manager for LuLu Exchange, a major player in currency exchange, cross-border remittance, and other financial services. This version shall offer techniques such as machine learning to detect suspicious transactions increasing fraud detection accuracy.
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Segment overview of global anti-money laundering software
Deployment Overview, 2012-2025 (USD million)
On premise
Cloud
Product Overview, 2012-2025 (USD million)
Transaction Monitoring Software
Currency Transaction Monitoring
Customer Identity Management
Compliance Management
Others
Application Overview, 2012-2025 (USD million)
Tier-1 Commercial banks
Tier-2 Credit & finance institutions
Tier 3 Micro finance Institutions
Tier-4 Loan lending institutions
Regional Overview, 2012-2025 (USD million)
North & Central America
U.S.
Canada
Mexico
Europe
France
Germany
Spain
Russia
Rest of Europe
Asia Pacific
India
Japan
China
Rest of Asia Pacific
South America
Brazil
Argentina
Chile
Rest of Latin America
Middle East & Africa
UAE
Saudi Arabia
South Africa
Rest of Middle East and Africa
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Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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Description
The Global Anti-money Laundering Software Industry 2016 Market Research Report is a professional and in-depth study on the current state of the Anti-money Laundering Software industry.
Firstly, the report provides a basic overview of the industry including definitions, classifications, applications and industry chain structure. The Anti-money Laundering Software market analysis is provided for the international market…
