Global Transaction Monitoring Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Financial institutions need to balance between minimizing false positives while ensuring effective detection of illicit activities

Market Segmentations

• The Global Transaction Monitoring Market is segmented based on Component, Deployment Mode, Organization Size, Function, Application, Industry, and Geography.
• By Component, the market is classified into Solution and Services.
• The Service Segment is anticipated to grow at fastest CAGR the market. The segment is further categorized into two categories namely, Professional Services and Managed Services. The growth is due to the increasing demand for outsourcing transaction monitoring activities.
• By Deployment Mode, the market is classified into On-Premises and Cloud Based.
• The cloud deployment model is the one that is expanding at the fastest rate in the Transaction Monitoring Industry. Small and medium-sized businesses (SMEs) have embraced the cloud deployment strategy since it allows them to focus on their core competencies rather than incurring costs for network infrastructure. Businesses can save money by using a cloud-based transaction monitoring service instead of purchasing hardware, software, storage, and technical staff. Because thieves commonly target financial transactions, their security is of the utmost importance.
• By Organization Size, the market is classified into Large Enterprises and Small & medium enterprises (SMEs).
• The SMEs category is anticipated to grow at a higher CAGR during the projected period due to the expanding data protection regulations and lack of expensive security solutions inside the payment network infrastructure. Despite their small size, SMEs service a vast array of customers worldwide. Small and medium-sized businesses (SMEs) rarely invest in a strong and all-encompassing transaction monitoring system.
• By Function, the market is classified into Case Management, KYC/Customer Onboarding, Dashboard & Reporting, and Watch List Screening.
• The KYC/Customer Onboarding segment is expected to hold a significant share of the market. The increasing need for compliance with regulatory requirements and the rise in fraudulent activities have led to the adoption of KYC/Customer Onboarding solutions, which has fueled the growth of this segment.
• By Application, the market is classified into Anti-Money Laundering, Customer Identity Management, and Fraud Detection and Prevention.
• The Fraud Detection and Prevention holds the largest market share and as the highest CAGR. By spotting and preventing fraudulent transactions before they are processed, it helps to lower financial losses. It increases consumer confidence and aids businesses in identifying new dangers and patterns of fraud. Businesses may keep ahead of potential fraudsters and modify their prevention efforts as needed by studying transaction data and spotting patterns.
• By Industry, the market is classified into BFSI, Government & Defense, Retail, IT & Telecom, Healthcare, Energy & utilities, Manufacturing, and Others.
• The BFSI sector is likely to account for a considerable portion of the global transaction monitoring market share. To maintain compliance with legal requirements relating to anti-money laundering (AML) and counter-terrorist financing, it is one of the industries that significantly rely on transaction monitoring (CTF). Higher-risk transactions are given priority for review in BFSI institutions that monitor transactions using a risk-based methodology. This entails determining the risk levels of a consumer based on details about their business, geography, previous transactions, and the products or services they use. It adheres to legislative regulations.
• By Geography, the market is classified into the Americas, Europe, Middle East & Africa, and Asia-Pacific.
• Americas is flourishing its dominance in the global transaction monitoring market due to factors such as the government's increased attention on maintaining and repairing civil infrastructure, the ageing infrastructure, and the growing requirement to manage KYC compliance. Also, there is a large-scale implementation of advanced analytics to protect the safety and security of important documents against proactive hazards. This is because the majority of international e-commerce transactions currently take place in the United States and the rest of the American region. The United States of America, which currently accounts for the majority of global e-commerce transactions, is the reason for this since it is in the Americans region.

Recent Development

• NetGuardians announced that it extended its NG|Screener platform and applied it to money-laundering transaction monitoring. In order to increase operational effectiveness and reduce expenses, it monitors massive quantities of transactions with extreme accuracy and a marked reduction in false warnings. - November 2022
• SAS Institute Inc. partnered with Neterium and Orange Bank to achieve real-time sanctions screening in the cloud. In contrast, built-in AI and advanced screening technologies improve detection relevance and allow analysts to monitor a holistic, real-time view of AML risk. - October 2022
• Nasdaq introduced AI technologies to help retail and commercial banks simplify AML investigations. - September 2020

Company Profiles

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)
• The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Transaction Monitoring Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Transaction Monitoring Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Transaction Monitoring Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
• The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market