Global Anti-Money Laundering Software Market- Overview
The rise in financial frauds across the globe is resulting in the increasing demand for the software that can help in preventing the fraud related activities. The anti-money laundering software market is likely to witness high growth in the near future as it provides several benefits to the financial services industry. Hence, anti-money laundering software providers are focusing on improving software by integrating various advanced features that can help in minimizing the risk of money laundering.
Regulatory organizations worldwide are also moving towards making it necessary for financial institutions to adopt anti-money laundering software. The governments of various countries are also enforcing policies and laws to avoid unlawful financial activities. However, the high cost of implementation and difficulties in data interpretation restricting the growth of the global anti-money laundering software market. Meanwhile, integration of big data analytics with anti-money laundering software is also one of the latest trends in the market for anti-money laundering software.
Global Anti-Money Laundering Software Market- Research Methodology
The global anti-money laundering software market report offers key insights on the market based on top-down and bottom-up approach. The report provides a forecast on the global revenue, segments and key regions in the market. The report comprises market dynamics such as market driving factors, market trends, key opportunities in the market, and challenges in the global anti-money laundering software market. the primary and secondary research was also done in order to identify a current scenario in the market and opportunities in the global anti-money laundering software market. As the part of the primary research, expert interviews were conducted to get a clear picture of the market. While analyzing annual and financial reports formed the part of the secondary research.
The report also includes SWOT analysis and Porter’s five force analysis for better understanding of the market. Market attractiveness analysis was also conducted to identify various opportunities in the market. Incremental opportunity is also given in the report as it is one of the important factors that help manufacturers to identify growth opportunities. Advanced technologies, new product launches and research and development activities in the global anti-money laundering software market is also provided in the report.
The report also talks about various regulations imposed by the regulatory bodies on the market. The leading players currently active in the global anti-money laundering software is also given in the report. A study also offers profiles of the companies including financial and company overview, product portfolio, new product launch, and key developments.
Global Anti-Money Laundering Software Market- Segmentation
The global anti-money laundering software market is segmented on the basis of product type, end-user type, solution type, deployment type, and region. By product type, the segment includes transaction monitoring systems, customer identity management systems, Currency Transaction Reporting (CTR) Systems, and compliance management software.
Based on the end-user type, the market segment includes retail banking, corporate banking, private banking, investment banking, asset management, insurance, multiple banking services, legal service providers, and other end-users.
On the basis of solution type, the market includes transactional monitoring, KYC (Know Your Customer), fraud, risk & compliance management, watch-list screening, data warehouse management, analytics and visualization, alert management and reporting, case management, and other solutions. By deployment type, the segment includes cloud-based and on-premise.
The global anti-money laundering software market based on geography is divided into North America, Japan, Latin America, Asia Pacific Excluding Japan (APEJ), Europe, and the Middle East and Africa (MEA).
Competitive Landscape
The report also provides extensive competitive analysis and profiles of the leading companies in the global anti-money laundering software market such as Fiserv, Inc., Accenture Inc., SAS Institute Inc., Opentext, Oracle Corp, Experian, FICO TONBELLER, EastNets, Ascent Technology Consulting, Trulioo., ACI Worldwide, Inc., BAE Systems, NICE, Verafin Inc., Siron, and NameScan, a member of the Neurocom group.
