Pune, India -- (SBWIRE) -- 09/07/2018 -- Summary:
Latest Research Report on Global Anti-Money Laundering Market Added by Garner Insights which covers Market Overview, Future Economic Impact, Competition by Manufacturers, Supply (Production), & Consumption Analysis
The Anti-Money Laundering Market research study relies upon a combination of primary as well as secondary research.AML software helps banks, financial institution and other enterprises to monitor doubtful transaction and analyze the customer data. Technological advancement is responsible for integration of IT solution to finance department of many companies which ensure the data. Adaptation of software in banking industry results in increasing incidence of money laundering; this raises demand of AML software. AML software provides tool to report doubtful action to enhance security, operational effectiveness and real time alerts, this drives the growth of the market. Government initiative in making AML software compulsory for many enterprises to evade unlawful financing activities is one of the major drivers to the growth of the market. Major features offer by AML software such as data warehouse, fully integrated data model and helps enterprises to identify growth opportunities are results in expanding the market. High cost of implementation and complexity in data interpretation are restraining the anti-money laundering market.
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Some of the major players profiled in this report include North America dominates the anti-money laundering market owing majority of financial institution strictly follows the customer identification programme and technological advancement increased feature of this market. Asia Pacific is expected to have impressive growth as Growing economies of this region increased demand of AML software.
The global anti-money laundering software market segmented on the basis of product type, deployment method and end user. On the basis of product type, the market is segmented into Transaction Monitoring Systems, Compliance Management Software, Currency Transaction Reporting (CTR) Systems and Customer Identity Management Systems. On the basis of deployment method, the market is segmented into on-premises and cloud-based. On the basis of end user, the market is segmented into BFSI, IT & telecommunication, defence & government, healthcare, energy & utilities and others.
By Product Type:
Transaction Monitoring Systems
Compliance Management Software
Currency Transaction Reporting (CTR) Systems
Customer Identity Management Systems
By Deployment method:
By End User:
IT & Telecommunication
Defence & Government
Energy & Utilities
North America dominates the anti-money laundering market owing majority of financial institution strictly follows the customer identification programme and technological advancement increased feature of this market. Asia Pacific is expected to have impressive growth as Growing economies of this region increased demand of AML software.
The main points which are answered and covered in this Report are-
What will be the total Anti-Money Launderingmarket size in the coming years till 2021?
What will be the key factors which will be overall affecting the industry?
What are the various challenges addressed?
Which are the major companies included?
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