The report on Global Anti-Money Laundering Software Market is a detailed study about the market overview, growth factor and market influencers.
An anti-money laundering software is a software that regulates to prevent and monitor money laundering activities in the financial institutes and similar regulated entities. There is a huge demand of digitization in the financial world and hence the similar threat of hacking and laundering activities. As per a recent report the global anti-money laundering s/w market is expected to grow to a value of USD 2 billion by the forecast period of 2018-2025.
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Anti-money laundering software is widely used in monitoring the transactions that happen across the financial institutions. This is expected to be the major contributor in market share owing to the growing technical advances and growing money laundering incidents across the globe. The growing technical advancement of financial institutes is another factor influencing the market growth.
Among the various users, the retail banking sector is expected to be the highest contributor of anti-money laundering software. This is owing to the fact as managing risk is the most important task in the retail banking sector. These software’s help in retail banking to monitor, enquiry and report transaction which appear to be fraudulent. Other factors influencing the anti-money laundering s/w market development is the various government regulations being set by financial action task force and bank secrecy act in the region of the United States.
Furthermore, there has been an increased investment by financial institutions to monitor and prevent the “bad money” concept. There has been an increased occurrence of money laundering in the terror financing and drug trafficking. The global anti-money laundering s/w marketis growing due to an increased real-time mapping and monitoring along with data analytics working along with transaction monitoring systems has led to increased popularity and increased popularity of the product along with application. All the growth factors of the market are studied in detail in the report along.
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The global anti-money laundering software market is segmented on the basis of deployment as On premises and Cloud. The market is dominated by on-premises sector due to better security options and preference by retail industry. Segmentation on the basis of Product overview is done as Transaction Monitoring Software, Customer Identity Management, Currency Transaction Monitoring, and Compliance Management. Among these the transaction monitoring software leads the market segment by contributing maximum share. Segmentation on the basis of application is done as Tier 1: Commercial banks, Tier 2: Credit & finance institutions, Tier 3: Micro finance Institutions, Tier 4: Loan lending institutions and so on.
Based on region the market is segmented as North and Central America, Europe, Asia Pacific, South America and Middle East and Africa. Key Players are Fiserve, FICO TONBELLER, SAS Institute, SunGard, are some of the key players of the global anti-money laundering software market.The report discusses in detail the various factors helping the market grow. It also presents a summary of the various strategies and policies being used by the companies to help the market growth and overcome the challenges.
Segment overview of global anti-money laundering software market
Anti-money laundering Software Market Overview, By Product
- Global Anti-money laundering software market share, by product , 2012 & 2025
- Transaction Monitoring Software
- Market size and projections, 2012 & 2025 (USD million)
- Currency Transaction Monitoring
- Market size and projections, 2012 & 2025 (USD million)
- Customer Identity Management
- Market size and projections, 2012 & 2025 (USD million)
- Compliance Management
- Market size and projections, 2012 & 2025 (USD million)
- Others
- Market size and projections, 2012 & 2025 (USD million)
Anti-money laundering software Market Overview, By End User
- Global Anti-money laundering software market share, by end user, 2012 & 2025
- Tier 1 Commercial Banks
- Market size and projections, 2012 & 2025 (USD million)
- Tier 2 Credit & Finance
- Market size and projections, 2012 & 2025 (USD million)
- Tier 3 Micro Finance institution
- Market size and projections, 2012 & 2025 (USD million)
- Tier 4 Loan lending institutions
- Market size and projections, 2012 & 2025 (USD million)
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