According to IMARC Group’s latest report, titled “Anti-Money Laundering (AML) Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global anti money laundering software market grew at a CAGR of around 16% during 2014-2019. Looking forward, IMARC Group expects the global market to continue its moderate growth during the next five years.
Anti-money laundering (AML) software refers to an application that enables banks and other financial institutions to analyze customer data and identify ambiguous transactions. It monitors, investigates, and reports suspicious transactions and unauthorized access to financial accounts. The systems equipped with AML software authenticate customer identity and provide real-time alerts to enhance the security and operational efficiency of the organizations. They also track market manipulations, trade of illegal goods, fraudulent activities with public funds and tax evasions, etc. As a result, AML software finds extensive applications across various industries, including banking, financial services and insurance (BFSI), information technology, defense, retail, etc.
The anti money laundering software market is primarily driven by the growing incidences of money laundering and cyber-attacks across the globe. Additionally, the implementation of stringent government regulations for mitigating the risk of money laundering activities, particularly in the BFSI sector, is augmenting the demand for AML software market. Furthermore, the integration of AML software with several advanced technologies, such as Internet-of-Things (IoT), machine learning (ML), cloud-based solutions, Big Data analytic tools, etc., is also propelling the anti money laundering software market growth. These advanced technologies enable the concerned authority to track financial data and predict risks and uncertainties. Additionally, the growing prevalence of the Know-Your-Customer (KYC) solution in the BFSI sector is also driving the demand for AML software for blocking unauthorized access and preventing illegal transactions.
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Anti Money Laundering (AML) Software Market 2020-2025 Competitive Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the anti money laundering software market has been studied in the report with the detailed profiles of the key players operating in the AML software market.
Some of these key players include:
ACI Worldwide Inc.
AML Partners LLC
BAE Systems Plc
CaseWare RCM Inc. (CaseWare International Inc.)
Experian Plc
Fair Isaac Corporation
Fidelity National Information Services Inc.
Fiserv Inc.
Oracle Corporation
SAS Institute Inc.
Tata Consultancy Services Limited (Tata Sons Private Limited).
The report has segmented the global anti money laundering software market on the basis of component, deployment mode, application, end use industry and region.
Breakup by Component:
Software
Services
Breakup by Deployment Mode:
On-premises
Cloud-based
Breakup by Application:
Transaction Monitoring
Currency Transaction Reporting
Customer Identity Management
Compliance Management
Others
Breakup by End Use Industry:
BFSI
Defense
Healthcare
IT and Telecom
Retail
Others
Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Explore full report with table of contents @ https://www.imarcgroup.com/anti-money-laundering-software-market
Key highlights of the report:
Market Performance (2014-2019)
Market Outlook (2020- 2025)
The Impact of COVID-19 on the Global Market
Market Drivers and Success Factors
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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