Anti-Money Laundering Software Market 2019 Forecast,Industry Analysis and Growth Research With ACI Worldwide, SAS Institute, Oracle Corporation, BAE Systems, Accenture, Verafin Inc., Safe Banking , Systems LLC

APAC is expected to be the fastest growing region for the usage of anti-money laundering software market. The key regions influencing the growth of of anti-money laundering software market in Asia Pacific region, are China and Japan. The advancement in technology is growing at a higher pace. Almost 60% of the world’s population lives in the Asia Pacific region, which majorly depends on a number of banks as well as a financial institution for their transactions. The deployment of anti-money laundering software is most significant across diversified industries such as BFSI, Retail, IT & Telecom, healthcare with a purpose to deal with the growing instances of terrorist, fraud detection activities across the region, which further boosting the growth of anti-money laundering software market.

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Leading Anti-Money Laundering Software Market Players: ACI Worldwide, SAS Institute, Oracle Corporation, BAE Systems, Accenture, Verafin Inc., Safe Banking , Systems LLC, Eastnets Holding Ltd., Ascent Technology Consulting, Opentext Corporation

Market Insights

Fin-techs are expected to drive the demand for automated anti-money laundering systems

With increasing consumer adoption and subsequent transaction volumes in a competitive the Fin Tech firms in 2019 are expected to witness a large number of firms shifting to automated anti-money laundering practices. Furthermore, the ability of the automated anti-money laundering system to provide negligible amount of false positives generated by traditional data and technology. This in response also reduces the adverse effects of false positives and higher operational cost. Furthermore as the banks and investment partners raise their expectations from the FinTechs in order to see them working with innovative compliance partners to not only reduce operational costs but also prove that they are catching illicit finance.

Growth in information sharing among the banks and other financial institutions

While information sharing has witnessed success among regulators and banks, in the coming years the anti-money laundering software market is expected to become more prevalent amongst smaller financial institutions. In order to make sure that this trend is a success the antimony laundering landscape might also see a culture of collaboration. Furthermore, the market is also projected to experience various obstacles in the way of information sharing, which might include inconsistency of territorial regulation and privacy legislation. Over the period information sharing has evolved to be of crucial importance in order to fight financial crimes effectively. The companies across the globe have had experience challenges regarding tradition trend of not sharing information owing to the threat of tipping off and privacy related problems. For the coming years the fin-techs and technologies are anticipated to have a significant influence in structuring the information sharing process, which is driving the anti-money laundering software market.

GLOBAL ANTI-MONEY LAUNDERING SOFTWARE MARKET SEGMENTATION

Global Anti-Money Laundering Software Market - By Deployment Type

• On-premise
• Cloud

Global Anti-Money Laundering Software Market - By Component

• Software
• Services

Global Anti-Money Laundering Software Market - By Product

• Transaction Monitoring
• Compliance Management
• Currency Transaction Reporting
• Customer Identity Management

Global Anti-Money Laundering Software Market - By Industry Vertical

• Healthcare
• BFSI
• Retail
• IT & Telecom
• Government
• Others

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