Anti-Money Laundering Software Market by Key Players ACI Worldwide, Inc., Eastnets Holding Ltd., Ascent Technology Consulting, NICE Actimize, FICO TONBELLER, Safe Banking Systems LLC

Increase in money laundering cases, rise in IT spending, and stringent anti-money laundering (AML) regulations would propel the growth in the global anti-money laundering software industry. The global anti-money laundering software market garnered $879.00 million in 2017, and is expected to reach $2,717.00 million by 2025, growing at a CAGR of 15.2% from 2018 to 2025.

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Upsurge in money laundering cases, increase in budget allocation for improving IT infrastructure, and stringent regulations for anti-money laundering (AML) propel the growth of the market. However, dearth of skilled AML professionals hinders the market growth. On the other hand, adoption of artificial intelligence technologies and implementation of cloud-based solutions would create new pathways for the market players in future.

The transaction monitoring segment would grow at the fastest CAGR of 18.4% from 2018 to 2025. This is due to rise in financial crimes, which increase the deployment of solutions for detecting suspicious activities and enhancing security infrastructure. However, the customer identity management segment accounted for nearly more than one-third of the total market share in 2017 and is expected to maintain its lion's share by 2025. This is due to the simplified workflow, ease in detection of suspicious activities, and reduction in false positives. The report also analyzes currency transaction reporting and compliance management segments.

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Frontrunners of the industry

The key market players analyzed in the research include ACI Worldwide, Inc., Eastnets Holding Ltd., Ascent Technology Consulting, NICE Actimize, FICO TONBELLER, Safe Banking Systems LLC, Regulatory DataCorp, Inc., Thomson Reuters Corporation, SAS Institute Inc., Truth Technologies, Inc., and Verafin Inc. They have adopted various strategies including expansion, joint ventures, collaborations, partnerships, mergers & acquisitions, and others to gain a strong position in the industry.

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