According to IMARC Group’s latest report, titled “Anti-Money Laundering (AML) Software Market: Global Industry Trends, Size, Share, Growth, Opportunity and Forecast 2021-2026”, the global anti money laundering software market is expected to grow at a CAGR of around 14% during 2021-2026. 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.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
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Market Trends and Drivers:
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 the 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 global 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.
Anti Money Laundering (AML) Software Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
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 market.
Some of these key players include:
- AML Partners LLC
- BAE Systems Plc
- Fiserv Inc.
- CaseWare RCM Inc. (CaseWare International Inc.)
- SAS Institute Inc.
- Fidelity National Information Services Inc.
- Oracle Corporation
- Fair Isaac Corporation
- ACI Worldwide Inc.
- Experian Plc
- Tata Consultancy Services Limited (Tata Sons Private Limited).
Key Market Segmentation:
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
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- The Impact of COVID-19 on the Global Market
- 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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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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