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DescriptionAnti money laundering software is a computer program or application that is used in analysing customer data and identifies suspicious transactions. Based on the customer data it filters the information and analyses the transaction pattern and identifies risk if there is any abnormal transaction and sudden & different changes in the account considering the gestured pattern.
Banking, financial services and insurance institutions (BFSI) are the ones that are particularly targeted by money launderers. Ever-increasing risks from financial frauds including high-profile money laundering activities represent one of the most challenging issues facing the BFSI industry. In order to limit money laundering risks, it has become important for financial institutions to understand the importance and imminent need of taking preventive measures.
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According to Research Report, the Global Anti-Money Laundering (AML) Software Market is accounted for $879.21 million in 2017 and is expected to reach $3,426.62 million by 2026 growing at a CAGR of 16.3% during the forecast period. Increase in money launder cases and increase in expenditures are driving towards the market growth. However, the lack of skilled Anti- money laundering professional is restraining the market.
Across the globe, North America has stringent government regulations against money laundering in the U.S. is facilitating the market growth in this region. Regulations for customer identification and compliances for financial institutions to counter money laundering activities are far more stringent in the U.S. as compared to other regions. The anti-money laundering software providers can leverage this as an opportunity for expanding their business and ensure that money laundering incidences are reduced to a greater extent.
Some of the key players in the Anti-Money Laundering (AML) Software market are ACI Worldwide, Inc., Oracle, EastNets, FICO TONBELLER, NICE Actimize, Regulatory DataCorp, Inc., Safe Banking Systems LLC, SAS Institute Inc., Thomson Reuters Corporation, Truth Technologies, Inc., Verafin Inc.,AML Partners, BAE Systems, Experian, FIS and Aquilan.
Following segments are covered in the report:
Solutions Covered:
KYC (Know Your Customer)
Watch-list Screening
Fraud, Risk & Compliance Management
Transactional Monitoring
Case Management
Data Warehouse Management
Alert Management & Reporting
Analytics & Visualization
Other solutions
Components Covered:
Service
Software
Deployments Covered:
Cloud-based
On-premise
Applications Covered:
Private Banking
Retail Banking
Investment Banking
Corporate Banking
Legal Service Providers
Multiple Banking Services
Asset Management
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End Users Covered:
Banking, Financial Services and Insurance (BFSI)
Healthcare
Defense and Government
IT & Telecom
Transportation and Logistics
Other End-Users
Regions Covered:
North America
US
Canada
Mexico
Europe
Germany
UK
Italy
France
Spain
Rest of Europe
Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
South America
Argentina
Brazil
Chile
Rest of South America
Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
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Table of Content:
Chapter One: Executive Summary
Chapter Two: Preface
Chapter Three: Market Trend Analysis
Chapter Four: Porters Five Force Analysis
Chapter Five: Global Anti-Money Laundering (AML) Software Market, By Solution
Chapter Six: Global Anti-Money Laundering (AML) Software Market, By Component
Chapter Seven: Global Anti-Money Laundering (AML) Software Market, By Deployment
Chapter Eight: Global Anti-Money Laundering (AML) Software Market, By Application
Chapter Nine: Global Anti-Money Laundering (AML) Software Market, By End User
Chapter Ten: Global Anti-Money Laundering (AML) Software Market, By Geography
Chapter Eleven: Key Developments
Chapter Twelve: Company Profiling
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