Outlook of the global anti-money laundering software market - The growing use of predictive analytics to reduce false results and decrease the compliance cost of AML software is a positive market trend.
Pune, Maharastra -- (SBWIRE) -- 01/21/2016 -- The global anti-money laundering software market analyst says growing demand for KYC analytics is also adding momentum to the market. The global AML software market shows immense potential for growth as vendors are introducing many products and solutions with variety of features such as enhanced due diligence, transaction monitoring, risk calculation, watch list etc. during the forecast period.
Complete report on anti-money laundering software market spread across 73 pages, analyzing 18 major companies and providing 15 data exhibits is now available at http://www.reportsnreports.com/reports/458654-global-anti-money-laundering-software-market-2016-2020.html.
According to the Global Anti-Money Laundering Software Market 2016-2020 report, governments of many countries are making regulatory compliance mandatory for enterprises to combat money laundering and other unlawful financing activities. Financial institutions, credit unions, and community banks are the most vulnerable to these activities. Governments are continuously monitoring the operations of these organizations through AML software.
The market research analyst predicts the global anti-money laundering (AML) software market to grow steadily at a CAGR of around 11% during the forecast period. AML software allows financial institutions and other enterprises to detect suspicious transactions and analyze customer data. Its ability to provide real-time alerts and tools to report suspicious events to maximize security and operational efficiency will foster its adoption during the forecast period. Order a copy of Global Anti-Money Laundering Software Market 2016-2020 report @ http://www.reportsnreports.com/Purchase.aspx?name=458654.
An important growth driver for anti-money laundering software market is the increasing regulatory compliance requirements, which compels financial institutions to adopt AML software. The growing utilization of predictive analytics to reduce false results and to decrease the compliance cost of AML software is a trend that will impel market growth until the end of 2020.
In this anti-money laundering software market research, analysts have estimated the Americas to be the largest market for AML software during the forecast period. Though the Americas account for the largest market share, the APAC region is envisaged to witness the fastest growth during the predicted period. Factors such as the rising adoption of stringent AML regulations, increasing regulatory compliance, and the growing adoption of these solutions in emerging economies like Australia, China, and India will propel the prospects for market growth in APAC during the estimated period.
Competitive landscape and key vendors
The global anti-money laundering software market is dominated by numerous large- and medium-sized vendors. The big companies and technology providers in this market are following strategies like M&A to increase their consumer base and to improve their global presence.
Key players in the global anti-money laundering software market are: ACI Worldwide, AML360, AML Partners, AML RightSource, BAE, EastNets, Experian, Fiserv, Nice Actimize, Oracle, Reed Elsevier, Safe Banking Systems, SAS, SunGard, Thomson Reuters, Tonbeller, Truth Technologies and Verafin
Other Prominent Vendors in the market are: Aquilan, Ascent Technology Consulting, Banker's Toolbox, Cellent Finance Solutions, CGI group, IBM, KPMG, Jack Henry, TCS, and Temenos.
Further, the anti-money laundering software market report states that one of the major challenges in the market is the inconsistency in the data as enterprises collect it from different departments. Proper functioning of the AML software requires consistency in data.
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