Anti-Money Laundering Solution Market Outlook 2021 Witnessing Enormous Growth with Recent Trends & Demand

Anti-Money Laundering Solution Market

Anti-Money laundering solution enables the financial institutions and other banks to monitor customer's behavior for suspected criminal transaction activities through the digital process. There are numerous anti-money laundering solutions available in the market, which include current transaction reporting, transaction monitoring, compliance management, and customer identity management.

Surging money laundering cases, implementation of the government regulations to deploy money laundering solutions, and increasing adoption of digital payment modes are the factors fueling the market growth. However, lack of skilled anti-money laundering professionals hinders market growth.

The Major Players Covered in this Report:
FICO, NICE (Israel), BAE Systems, SAS Institute, Experian (Ireland), LexisNexis, FIS Global, CaseWare (Canada), WorkFusion, Fiserv, ACI Worldwide, TransUnion, Oracle, Finacus Solutions (India), Nelito Systems (India), 

The anti-money laundering solution market was valued at USD 1.15 billion in 2019 and is expected to reach USD 3.15 billion by 2029, growing with a CAGR of 18.5% during the forecast period.

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By Component

Solution
Services
Professional Services
Consulting Services
Training and Education
Risk Assessment
Forensic and Investigation
Managed Services
By Technology Type

Know Your Customer (KYC) Systems
Transaction Monitoring
Case Management
Compliance Management
Auditing and Reporting
By Deployment Type

On-premises
Cloud
By Organization Size

Small and Medium-sized Enterprises (SMEs)
Large Enterprises

Increasing online banking institutions, digital payment services, peer-to-peer transfer using smartphones, adoption of virtual currency have led to the increase in money laundering cases. This leads to financial institutions to suffer huge economic losses. For instance, according to the U.K.'s Financial Conduct Authority (FCA) 2019, between January and April 2019, the U.K. imposed USD 1.23 billion in fines. This trend depicts the significant increase in money laundering activities across the globe, further paving the way for the adoption of anti-money laundering solutions among enterprises.

Regional Analysis For Anti-Money Laundering Solution Market:

North America (United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

In this study, the years considered to estimate the market size of the Anti-Money Laundering Solution are as follows:

History Year: 2014-2019
Base Year: 2019
Estimated Year: 2020
Forecast Year 2021 to 2026

The study objectives of this report are:

To study and forecast the market size of the Anti-Money Laundering Solution in the global market.
To analyze the global key players, SWOT analysis, value, and global market share for top players.
To define, describe and forecast the market by type, end-use, and region.
To analyze and compare the market status and forecast among global major regions.
 Analyze the potential of the global market and the advantages, opportunities and challenges, constraints, and risks of key regions.
Identify the key trends and factors that are driving or holding back market growth.
To analyze the opportunities in the market for stakeholders by identifying the high-growth segments.
Strategic analysis of each submarket in light of individual growth trends and market contributions.
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
Complete analysis of the strategic strategy and growth of key players

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