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Global Anti-Money Laundering Software Market By Component (Service & Software), By Deployment Type (Cloud & On-premise), By End User (Banking, Asset Management, Legal Service Providers & Others), By Region, Competition, Forecast & Opportunities 2024

  • ID: 4761469
  • Report
  • Region: Global
  • 114 pages
  • TechSci Research
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Global Anti-Money Laundering Software Market Forecast to Grow at a CAGR of Around 14% by 2024

FEATURED COMPANIES

  • ACI Worldwide
  • BAE Systems
  • FICO Tonbeller
  • Fiserv, Inc.
  • NICE Actimize
  • Oracle Corporation
  • MORE
Global Anti-Money Laundering Software Market Overview

The global anti-money laundering software market was valued at $898 million in 2018 and is forecast to grow at a CAGR of around 14% to reach $1.9 billion by 2024 on account of surging demand for monitoring suspicious transaction and analyzing the customer data. With the increasing cases of money laundering, companies operating under the financial sector have started using anti-money laundering software in order to enhance security. Use of visualization tools can help the companies to reduce the time required to analyze the data and hypothesize monitoring strategies. Moreover, governments of several countries have started forming regulations to address the issue of money laundering, thereby further fueling growth in the market.

Global Anti-Money Laundering Software Market Segments

Anti-money laundering software market serves various end-users such as banking, asset management, insurance, legal service providers and others. Banking acquired the majority share in 2018. Managing risk is the top-notch priority of the banking sector, which is fueling the demand for anti-money laundering software market in this segment. Among components, software segment is the leading segment as it offers high level of security and technical features to the customers. The software segment is further segmented into Transaction Monitoring, Currency Transaction Reporting, Customer Identity Management and Compliance Management Software. Of all, customer identity management software is expected to witness the fastest growth during forecast period as most of the organizations are now deploying customer identity management in order to properly manage the identity of their customers.

Global Anti-Money Laundering Software Market Regional Insights

In terms of regional analysis, the global anti-money laundering software market is divided into North America, Europe, Asia-Pacific, Middle East & Africa and South America. In 2018, North America acquired the dominant position in the global anti-money laundering software market and is anticipated to continue its dominance through 2024 on account of strict government regulations in countries of the region. Regulations for customer identification and compliances for financial institutes are strict in the US and Canada, therefore these countries are contributing to the leading share of North America in the global anti-money laundering software market. Asia-Pacific followed by Middle East & Africa are anticipated to witness significant growth on account of increasing technological advancements and rising penetration of anti-money laundering software in various end-user segments of the regions.

Global Anti-Money Laundering Software Market Competitive Landscape

Increase in the cases of money laundering is pushing companies to adopt advanced technologies and solutions. Key market players analyzed in the research include Fiserv, Inc., NICE Actimize, ACI Worldwide, FICO Tonbeller, Oracle Corporation, etc. These companies have adopted various strategies including expansion, joint ventures, collaborations, partnerships, mergers & acquisitions, etc., to strengthen their position in the market. In order to combat money laundering, banks have started investing in technologies so as to enhance and secure their infrastructure. Since, 2017 more than one-third banks have announced an increase in their spending on anti-money laundering software which is propelling growth in the market.

Years considered for this report:

Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024

Objective of the Study:
  • To analyze and forecast the market size of the global anti-money laundering software market.
  • To classify and forecast the global anti-money laundering software market based on component, deployment type, end-user and regional distribution.
  • To identify drivers and challenges for the global anti-money laundering software market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global anti-money laundering software market.
  • To identify and analyze the profile of leading players operating in the global anti-money laundering software market.
Some of the leading players in the global anti-money laundering software market are Fiserv, Inc., NICE Actimize, ACI Worldwide, FICO Tonbeller, Oracle Corporation, SAS Institute, Wolters Kluwer N.V., Truth Technologies, Inc., Verafin, Inc., BAE Systems, etc.

The author performed both primary as well as exhaustive secondary research for this study. Initially, the author sourced a list of service providers across the globe. Subsequently, the author conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the author could include the service providers which could not be identified due to the limitations of secondary research. The author analyzed the service offerings, distribution channels and presence of all major solution providers across the globe.

The author calculated the market size of the global anti-money laundering software market by using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The author sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied.

Key Target Audience:
  • Anti-money laundering software & service providers and other stakeholders
  • Government bodies such as regulating authorities and policy makers
  • Organizations, forums and alliances related to anti-money laundering software market.
Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers and partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, the global anti-money laundering software market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Market, By Component Type:
  • Software
  • Transaction Monitoring
  • Currency Transaction Reporting
  • Customer Identity Management
  • Compliance Management
Market, By Deployment Type:
  • Cloud
  • On-Premise
Market, By End-User:
  • Banking
  • Asset Management
  • Insurance
  • Legal Service Providers
  • Others
Market, By Region:

North America
  • United States
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Italy
  • Netherlands
  • Rest of Europe
Asia-Pacific
  • China
  • Japan
  • Singapore
  • India
  • Australia
  • Indonesia
  • Rest of Asia-Pacific
  • Middle East and Africa
  • UAE
  • Saudi Arabia
  • South Africa
  • Qatar
  • Rest of MEA
South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global anti-money laundering software market.

Available Customizations

With the given market data, the author offers customizations according the company’s specific needs. The following customization options are available for the report:

Company Information
  • Detailed analysis and profiling of additional market players (up to five).
*Note - Custom Research License:

10% specific customization is available free of any additional cost, for both the single user and enterprise license, as above. However, alternatively, if you are looking for additional content data or insight related to the scope of the report, you may purchase the new “Custom Research License”. Please enquire for pricing.

The custom research will be delivered in printable PDF format along with the report’s data excel sheet. This license offers 80 analyst hours. It is strongly recommended for an organization which wants to execute short ‘bespoke’ research projects related to the scope of the purchased report.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • ACI Worldwide
  • BAE Systems
  • FICO Tonbeller
  • Fiserv, Inc.
  • NICE Actimize
  • Oracle Corporation
  • MORE
1. Product Overview

2. Research Methodology

3. Executive Summary

4. Voice of Customer

5. Global Anti-Money Laundering Software Market Landscape

6. Global Anti-Money Laundering Software Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Component (Software and Service)
6.2.1.1. By Software (Transaction Monitoring, Currency Transaction Reporting, Customer Identity Management & Compliance Management Software)
6.2.2. By Deployment Type (On-premise and Cloud)
6.2.3. By End User (Banking, Asset Management, Insurance, Legal Service Providers and Others)
6.2.4. By Company
6.2.5. By Region
6.3. Market Attractiveness Index

7. North America Anti-Money Laundering Software Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Component
7.2.2. By Deployment Type
7.2.3. By End User
7.2.4. By Country
7.3. Market Attractiveness Index
7.4. North America: Country Analysis
7.4.1. United States Anti-Money Laundering Software Market Outlook
7.4.1.1. Market Size & Forecast
7.4.1.1.1. By Value
7.4.1.2. Market Share & Forecast
7.4.1.2.1. By Deployment Type
7.4.1.2.2. By End User
7.4.1.3. Market Attractiveness Index
7.4.2. Canada Anti-Money Laundering Software Market Outlook
7.4.2.1. Market Size & Forecast
7.4.2.1.1. By Value
7.4.2.2. Market Share & Forecast
7.4.2.2.1. By Deployment Type
7.4.2.2.2. By End User
7.4.2.3. Market Attractiveness Index
7.4.3. Mexico Anti-Money Laundering Software Market Outlook
7.4.3.1. Market Size & Forecast
7.4.3.1.1. By Value
7.4.3.2. Market Share & Forecast
7.4.3.2.1. By Deployment Type
7.4.3.2.2. By End User
7.4.3.3. Market Attractiveness Index

8. Europe Anti-Money Laundering Software Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Component
8.2.2. By Deployment Type
8.2.3. By End User
8.2.4. By Country
8.3. Market Attractiveness Index
8.4. Europe: Country Analysis
8.4.1. UK Anti-Money Laundering Software Market Outlook
8.4.1.1. Market Size & Forecast
8.4.1.1.1. By Value
8.4.1.2. Market Share & Forecast
8.4.1.2.1. By Deployment Type
8.4.1.2.2. By End User
8.4.1.3. Market Attractiveness Index
8.4.2. Germany Anti-Money Laundering Software Market Outlook
8.4.2.1. Market Size & Forecast
8.4.2.1.1. By Value
8.4.2.2. Market Share & Forecast
8.4.2.2.1. By Deployment Type
8.4.2.2.2. By End User
8.4.2.3. Market Attractiveness Index
8.4.3. France Anti-Money Laundering Software Market Outlook
8.4.3.1. Market Size & Forecast
8.4.3.1.1. By Value
8.4.3.2. Market Share & Forecast
8.4.3.2.1. By Deployment Type
8.4.3.2.2. By End User
8.4.3.3. Market Attractiveness Index
8.4.4. Italy Anti-Money Laundering Software Market Outlook
8.4.4.1. Market Size & Forecast
8.4.4.1.1. By Value
8.4.4.2. Market Share & Forecast
8.4.4.2.1. By Deployment Type
8.4.4.2.2. By End User
8.4.4.3. Market Attractiveness Index
8.4.5. Netherlands Anti-Money Laundering Software Market Outlook
8.4.5.1. Market Size & Forecast
8.4.5.1.1. By Value
8.4.5.2. Market Share & Forecast
8.4.5.2.1. By Deployment Type
8.4.5.2.2. By End User
8.4.5.3. Market Attractiveness Index

9. Asia-Pacific Anti-Money Laundering Software Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Component
9.2.2. By Deployment Type
9.2.3. By End User
9.2.4. By Country
9.3. Market Attractiveness Index
9.4. Asia-Pacific: Country Analysis
9.4.1. China Anti-Money Laundering Software Market Outlook
9.4.1.1. Market Size & Forecast
9.4.1.1.1. By Value
9.4.1.2. Market Share & Forecast
9.4.1.2.1. By Deployment Type
9.4.1.2.2. By End User
9.4.1.3. Market Attractiveness Index
9.4.2. Japan Anti-Money Laundering Software Market Outlook
9.4.2.1. Market Size & Forecast
9.4.2.1.1. By Value
9.4.2.2. Market Share & Forecast
9.4.2.2.1. By Deployment Type
9.4.2.2.2. By End User
9.4.2.3. Market Attractiveness Index
9.4.3. Singapore Anti-Money Laundering Software Market Outlook
9.4.3.1. Market Size & Forecast
9.4.3.1.1. By Value
9.4.3.2. Market Share & Forecast
9.4.3.2.1. By Deployment Type
9.4.3.2.2. By End User
9.4.3.3. Market Attractiveness Index
9.4.4. India Anti-Money Laundering Software Market Outlook
9.4.4.1. Market Size & Forecast
9.4.4.1.1. By Value
9.4.4.2. Market Share & Forecast
9.4.4.2.1. By Deployment Type
9.4.4.2.2. By End User
9.4.4.3. Market Attractiveness Index
9.4.5. Australia Anti-Money Laundering Software Market Outlook
9.4.5.1. Market Size & Forecast
9.4.5.1.1. By Value
9.4.5.2. Market Share & Forecast
9.4.5.2.1. By Deployment Type
9.4.5.2.2. By End User
9.4.5.3. Market Attractiveness Index
9.4.6. Indonesia Anti-Money Laundering Software Market Outlook
9.4.6.1. Market Size & Forecast
9.4.6.1.1. By Value
9.4.6.2. Market Share & Forecast
9.4.6.2.1. By Deployment Type
9.4.6.2.2. By End User
9.4.6.3. Market Attractiveness Index

10. Middle East and Africa Anti-Money Laundering Software Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Component
10.2.2. By Deployment Type
10.2.3. By End User
10.2.4. By Country
10.3. Market Attractiveness Index
10.4. MEA: Country Analysis
10.4.1. UAE Anti-Money Laundering Software Market Outlook
10.4.1.1. Market Size & Forecast
10.4.1.1.1. By Value
10.4.1.2. Market Share & Forecast
10.4.1.2.1. By Solution Type
10.4.1.2.2. By End User
10.4.1.3. Market Attractiveness Index
10.4.2. Saudi Arabia Anti-Money Laundering Software Market Outlook
10.4.2.1. Market Size & Forecast
10.4.2.1.1. By Value
10.4.2.2. Market Share & Forecast
10.4.2.2.1. By Solution Type
10.4.2.2.2. By End User
10.4.2.3. Market Attractiveness Index
10.4.3. South Africa Anti-Money Laundering Software Market Outlook
10.4.3.1. Market Size & Forecast
10.4.3.1.1. By Value
10.4.3.2. Market Share & Forecast
10.4.3.2.1. By Solution Type
10.4.3.2.2. By End User
10.4.3.3. Market Attractiveness Index
10.4.4. Qatar Anti-Money Laundering Software Market Outlook
10.4.4.1. Market Size & Forecast
10.4.4.1.1. By Value
10.4.4.2. Market Share & Forecast
10.4.4.2.1. By Solution Type
10.4.4.2.2. By End User
10.4.4.3. Market Attractiveness Index

11. South America Anti-Money Laundering Software Market Outlook
11.1. Market Size & Forecast
11.1.1. By Value
11.2. Market Share & Forecast
11.2.1. By Component
11.2.2. By Deployment Type
11.2.3. By End User
11.2.4. By Country
11.3. Market Attractiveness Index
11.4. South America: Country Analysis
11.4.1. Brazil Anti-Money Laundering Software Market Outlook
11.4.1.1. Market Size & Forecast
11.4.1.1.1. By Value
11.4.1.2. Market Share & Forecast
11.4.1.2.1. By Solution Type
11.4.1.2.2. By End User
11.4.1.3. Market Attractiveness Index
11.4.2. Colombia Anti-Money Laundering Software Market Outlook
11.4.2.1. Market Size & Forecast
11.4.2.1.1. By Value
11.4.2.2. Market Share & Forecast
11.4.2.2.1. By Solution Type
11.4.2.2.2. By End User
11.4.2.3. Market Attractiveness Index
11.4.3. Argentina Anti-Money Laundering Software Market Outlook
11.4.3.1. Market Size & Forecast
11.4.3.1.1. By Value
11.4.3.2. Market Share & Forecast
11.4.3.2.1. By Solution Type
11.4.3.2.2. By End User
11.4.3.3. Market Attractiveness Index

12. Market Dynamics
12.1. Drivers
12.2. Challenges

13. Market Trends & Developments

14. Competitive Landscape
14.1. Competition Outlook
14.2. Company Profiles (Partial List of Leading Companies)
14.2.1. Fiserv, Inc.
14.2.2. NICE Actimize
14.2.3. ACI Worldwide
14.2.4. FICO Tonbeller
14.2.5. Oracle Corporation
14.2.6. SAS Institute
14.2.7. Wolters Kluwer N.V.
14.2.8. Truth Technologies, Inc.
14.2.9. Verafin, Inc.
14.2.10. BAE Systems

15. Strategic Recommendations

*Full List of Figures and Tables Available on Enquiry.
Note: Product cover images may vary from those shown
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  • Fiserv, Inc.
  • NICE Actimize
  • ACI Worldwide
  • FICO Tonbeller
  • Oracle Corporation
  • SAS Institute
  • Wolters Kluwer N.V.
  • Truth Technologies, Inc.
  • Verafin, Inc.
  • BAE Systems
Note: Product cover images may vary from those shown
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