Global Anti-Money Laundering Software Market 2017-2021

  • ID: 4143977
  • Report
  • Region: Global
  • 70 pages
  • TechNavio
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FEATURED COMPANIES

  • 3i Infotech
  • Aquilan Technologies
  • EastNets
  • IBM
  • MetricStream
  • Safe Banking Systems
  • MORE
About Anti Money Laundering Software

Money laundering is a process by which criminals convert illegally obtained profit into seemingly legitimate funds. They hide the source of such profits and try to prove that they are from a legitimate source. Money laundering is a worldwide issue. The reason for criminals to launder their illegal funds is that they can later use this money in the markets without any hindrance and without the fear of it being tracked. Laundering prevents the funds from being confiscated by the police. In money laundering, once the funds are deposited in a foreign bank, they can be moved through accounts of shell corporations that exist mainly for laundering purposes. The high volume of wire transfers daily makes it difficult for law enforcement agencies to trace these transactions.

The analysts forecast the global anti money laundering software market to grow at a CAGR of 11.07% during the period 2017-2021.

Covered in this report
The report covers the present scenario and the growth prospects of the global anti money laundering software market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA

The report, Global Anti Money Laundering Software Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
- ACI Worldwide
- EastNets
- FICO TONBELLER
- Fiserv
- NICE Actimize
- RELX
- FIS
- BAE Systems
- Experian
- Oracle
- SAS
- Thomson Reuters
- aml360
- AML Partners
- AML RightSource
- Safe Banking Systems
- Truth Technologies
- Verafin

Other prominent vendors
- Ascent Technology Consulting
- Aquilan Technologies
- Banker’s Toolbox
- targens
- CGI Group
- MemberCheck

Market drivers
- Increased need for automated transaction monitoring systems.
- For a full, detailed list, view the full report

Market challenges
- Complexity of data interpretation.
- For a full, detailed list, view the full report

Market trends
- Increasing need for know your customer analytics.
- For a full, detailed list, view the full report

Key questions answered in this report
- What will the market size be in 2021 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the Key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

You can request one free hour of the analyst’s time when you purchase this market report. Details are provided within the report.
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FEATURED COMPANIES

  • 3i Infotech
  • Aquilan Technologies
  • EastNets
  • IBM
  • MetricStream
  • Safe Banking Systems
  • MORE
PART 01: Executive summary

PART 02: Scope of the report

PART 03: Research Methodology

PART 04: Introduction
  • Key market highlights
PART 05: Market landscape
  • Market overview
  • Market size and forecast
PART 06: Five forces analysis
  • Five force analysis
PART 07: Market segmentation by deployment model
  • Global AML software market by deployment model
PART 08: Geographical segmentation
  • Global AML software market by geographical segmentation 2016
  • AML software market in the Americas
  • AML software market in EMEA
  • AML software market in APAC
PART 09: Key leading countries
  • US
  • UK
  • Australia
PART 10: Decision framework

PART 11: Drivers and challenges
  • Market drivers
  • Impact of drivers on key customer segments
  • Market challenges
  • Impact of challenges on key customer segments
PART 12: Market trends
  • Integration of AML software with visualization tools
  • Increasing demand for know your customer analytics
  • Integration of AML and anti-fraud solutions
PART 13: Key vendor analysis
  • Vendor landscape
  • Vendor competition overview
  • BFSI vendor analysis
  • Other BFSI vendor analysis
  • Technology provider analysis
  • Other technology providers
  • Pure players
  • Other prominent vendors
PART 14: Appendix
  • List of abbreviations
List of Exhibits
Exhibit 01: Process of money laundering
Exhibit 02: Instances of penalties due to AML non-compliance 2014, 2015, and 2016
Exhibit 03: Global AML software market overview
Exhibit 04: Global AML software market 2016-2021 ($ millions)
Exhibit 05: Five forces analysis
Exhibit 06: Global AML software market by deployment 2016 (% share)
Exhibit 07: Global on-premises AML software market 2016-2021 ($ millions)
Exhibit 08: Global cloud-based AML software market 2016-2021 ($ millions)
Exhibit 09: Comparison between cloud-based and on-premises AML software
Exhibit 10: Global AML software market by geographical segmentation 2016 (% share)
Exhibit 11: Global AML software market by geographical segmentation 2016-2021 ($ millions)
Exhibit 12: AML software market in Americas 2016-2021 ($ millions)
Exhibit 13: AML software market in EMEA 2016-2021 ($ millions)
Exhibit 14: AML software market in APAC 2016-2021 ($ millions)
Exhibit 15: Key leading countries
Exhibit 16: AML regulatory developments across countries
Exhibit 17: Impact of drivers
Exhibit 18: AML compliance cost with respect to company size
Exhibit 19: Impact of challenges
Exhibit 20: Steps performed by visualization tools of AML software
Exhibit 21: Use of KYC analytics in AML
Exhibit 22: BFSI Vendor offerings
Exhibit 23: Features provided by BFSI vendors
Exhibit 24: Features provided by BFSI vendors (Continued)
Exhibit 25: Supported languages provided by BFSI vendors
Exhibit 26: Consumer base of BFSI vendors
Exhibit 27: Geographical presence of BFSI vendors
Exhibit 28: Comparative petal chart for BFSI vendors
Exhibit 29: ACI Worldwide: Recent developments
Exhibit 30: EastNets: Recent developments
Exhibit 31: FICO TONBELLER: Recent developments
Exhibit 32: Fiserv: Recent developments
Exhibit 33: NICE Actimize: Solutions and features
Exhibit 34: NICE Actimize: Recent developments
Exhibit 35: Accuity: Recent developments
Exhibit 36: LexisNexis: Recent developments
Exhibit 37: FIS: Recent developments
Exhibit 38: Features provided by other BFSI vendors
Exhibit 39: Features provided by other BFSI vendors (Continued)
Exhibit 40: Supported languages provided by other BFSI vendors
Exhibit 41: Consumer base of other BFSI vendors
Exhibit 42: Geographical presence of other BFSI vendors
Exhibit 43: Comparative petal chart for other BFSI vendors (1)
Exhibit 44: Comparative petal chart for other BFSI vendors (2)
Exhibit 45: Technology provider offerings
Exhibit 46: Features provided by technology provider
Exhibit 47: Features provided by technology provider (Continued)
Exhibit 48: Supported languages provided by technology provider
Exhibit 49: Consumer base of technology provider
Exhibit 50: Geographical presence of technology provider
Exhibit 51: Comparative petal chart for technology provider vendors
Exhibit 52: BAE Systems: Recent development
Exhibit 53: Experian: Recent developments
Exhibit 54: Oracle: Recent developments
Exhibit 55: SAS: Recent developments
Exhibit 56: Thomson Reuters: Recent developments
Exhibit 57: Other technology providers
Exhibit 58: Verafin: Recent developments
Exhibit 59: Other prominent vendors
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FEATURED COMPANIES

  • 3i Infotech
  • Aquilan Technologies
  • EastNets
  • IBM
  • MetricStream
  • Safe Banking Systems
  • MORE
New Report Released: – Global Anti Money Laundering Software Market 2017-2021

The author of the report recognizes the following companies as the key players in the global anti money laundering software market: ACI Worldwide, EastNets, FICO TONBELLER, Fiserv, NICE Actimize, RELX, FIS, BAE Systems, Experian, Oracle, SAS, Thomson Reuters, aml360, AML Partners, AML RightSource, Safe Banking Systems, Truth Technologies, and Verafin.

Other Prominent Vendors in the market are: Aquilan Technologies, Banker's Toolbox, CaseWare Analytics, Fenergo, Infrasoft Technologies, Innovative Systems, Jack Henry & Associates, MetricStream, Ocean Systems, Regulatory DataCorp, Temenos, Wolters Kluwer, 3i Infotech, IBM, KPMG, TATA Consultancy Services, Ascent Technology Consulting, Aquilan Technologies, Banker’s Toolbox, targens, CGI, and MemberCheck.

Commenting on the report, an analyst from the research team said: “One trend in market is increasing demand for know your customer analytics. AML and KYC analytics are becoming important focus areas for all financial services firms worldwide because of increasing cost of compliance, risk of non-compliance, and the challenges related to acquiring and retaining the right customers. Before the introduction of KYC analytics, AML software used automated transaction monitoring systems that produce alerts in case of suspicious transactions. Advances in technology enable banks and financial institutions to collect an enormous amount of data, but these organizations face multiple challenges in compiling the data to build strong relationships, improve return, and reduce risk. KYC analytics can reduce the complex and expensive burden of compliance on both AML and KYC departments. AML software with KYC analytics enables banks to properly document, understand, and actively manage the flow of data across the organization and its systems.”

According to the report, one driver in market is increased need for suspicious activity reporting. SAR is a process of creating a report with information that alerts law enforcement if a certain customer transaction activity is possibly suspicious and might indicate money laundering or terrorist financing. SAR has become an essential part to fight terrorist financing, money laundering, and other financial crimes. The reason for SAR being used is that it is not possible for a bank to detect and report all possible illicit transactions that flow through the bank. SAR provides information on potential criminality and helps banks to manage complexities that arise due to the regulations and high costs associated with AML initiatives. Hence, it is essential for the quality of SAR content to be good for an effective SAR operation.

Further, the report states that one challenge in market is high cost of implementation. The deployment of AML software is an expensive process as it has defining requirements and its implementation takes a long time. This increases the importance of the process because once the deployment has taken place, it is expensive to make any changes. It also requires expensive additional infrastructure, complex programming, and extra time and money to ensure data integration and data quality. Most AML software vendors charge additional fees for software updates, which include improved features. Some vendors force the end-users to purchase updates by refusing to provide technical support if they have not purchased the latest version.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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  • ACI Worldwide
  • EastNets
  • FICO TONBELLER
  • Fiserv
  • NICE Actimize
  • RELX
  • FIS
  • BAE Systems
  • Experian
  • Oracle
  • SAS
  • Thomson Reuters
  • aml360
  • AML Partners
  • AML RightSource
  • Safe Banking Systems
  • Truth Technologies
  • Verafin
  • Aquilan Technologies
  • Banker's Toolbox
  • CaseWare Analytics
  • Fenergo
  • Infrasoft Technologies
  • Innovative Systems
  • Jack Henry & Associates
  • MetricStream
  • Ocean Systems
  • Regulatory DataCorp
  • Temenos
  • Wolters Kluwer
  • 3i Infotech
  • IBM
  • KPMG
  • TATA Consultancy Services
  • Ascent Technology Consulting
  • Aquilan Technologies
  • Banker’s Toolbox
  • targens
  • CGI
  • MemberCheck
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