Anti-Money Laundering Market Analysis, Growth Factors and Dynamic Demand by 2032

Anti-money laundering (AML) software is a technology that enables banks and other financial institutions to automatically monitor customer behaviour for possible financial crimes. The anti-money laundering software market has taken into account a variety of AML solutions, including transaction monitoring, currency transaction reporting, client identification management, and compliance management. The implementation of AML solutions in banks and other financial institutions has been spurred by an increase in the amount of international transactions.

Increased AML regulatory requirements, an increase in money laundering cases, and an increase in IT spending are the main drivers of the anti-money laundering software market's expansion. The expansion of the anti-money laundering software market, however, is predicted to be hampered by the shortage of AML personnel. On the other hand, growing acceptance of cloud-based solutions and the emergence of artificial intelligence technology in AML solutions are predicted to offer attractive potential for the growth of the AML software market throughout the forecast period.

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Due of the increased security these systems provide, the on-premises AML solutions segment dominated the market in 2017. However, the cloud-based segment is anticipated to experience the fastest growth rate, as more small- and medium-sized financial organisations use cloud-based solutions to combat money laundering.

Due to widespread use of AML solutions and strict government rules requiring their deployment in financial institutions throughout the area, Europe dominated the global market in 2017. However, due to factors like an increase in bank IT spending and an increase in government actions against money laundering, Asia-Pacific is anticipated to experience the fastest growth rate throughout the projected period.

Based on an examination of regional trends, the report focuses on the market's drivers and restraints. In addition, the report presents a Porter's Five Forces analysis of the industry to help readers understand the effects of numerous factors on industry growth, including the bargaining power of suppliers, the level of competition among competitors, the threat of new entrants, the danger of substitutes, and the bargaining power of buyers.

Segmentation:
By Deployment:
• Cloud-based
• On-premises
By Component:
• Solutions
• Transaction Monitoring
• Currency Transaction Reporting
• Customer Identity Management
• Compliance Management
• Others
By Services
• Professional Services
• Managed Services
By End-Use Industry:
• Banking, Financial Services, and Insurance (BFSI)
• Defense and Government
• Healthcare and Life Sciences
• Retail
• IT and Telecom
• Others

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Geographical Analysis:
North America is the largest Anti-Money Laundering Market due to the strict regulatory landscape and high adoption rate of advanced technologies in the region. Europe and Asia-Pacific are also significant Anti-Money Laundering Market due to increasing cases of financial crimes and the implementation of strict AML regulations by governments in these regions. Overall, the demand for Anti-Money Laundering Market is expected to continue growing globally due to the increasing prevalence of financial crimes and the need for regulatory compliance. The adoption of Anti-Money Laundering Market is growing rapidly in the Asia Pacific region due to several factors such as the increasing need for regulatory compliance, rising incidence of financial fraud, and the growing number of financial transactions in the region. For instance, in 2020, the Financial Action Task Force (FATF) conducted a mutual evaluation of Japan's AML framework and commended the country for its strong legal and institutional framework for combating money laundering and terrorist financing.

Company Profiles:
• ACI Worldwide, Inc.
• BAE Systems
• Fiserv, Inc.
• NICE Actimize
• SAS Institute Inc.
• Thomson Reuters Corporation
• Experian Information Solutions, Inc.
• Refinitiv
• LexisNexis Risk Solutions
• FICO
• TransUnion LLC
• Fair Isaac Corporation (FICO)
• Verafin Inc.
• Quantexa
• ComplyAdvantage

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Competitive analysis: The report reports provide detailed information on competitors' strengths, weaknesses, and strategies, which can help businesses identify potential threats and opportunities in Anti-Money Laundering Market.
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