The global market for anti-money laundering software is likely to experience healthy growth, registering 12.1% CAGR between 2017 and 2026. The global market for anti-money laundering software is also likely to reach US$ 4,262.0 million revenue towards 2026 end.
Albany, NY -- (SBWIRE) -- 06/19/2018 -- To Understand the Anti-Money Laundering Software Market Industry Status worldwide, Market Research Report Search Engine (MRRSE) has included the latest Forecast report titled "Anti-Money Laundering Software Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2026", to its vast database. This study offers data about the prime regions operating in the Anti-Money Laundering Software Market, along with their production, consumption, revenue and market share details. Further, the intelligent report also anticipates that the market would grow at a constructive CAGR until 2026.
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The government of various countries are forming regulatory bodies to address the issue of money laundering. Along with this, companies under financial sector are also moving towards using anti-money laundering software to minimize the risk associated with transactions. Technological advancements in the financial industry is also resulting in the companies looking to improve their finance department by integrating advanced IT solution to ensure safety. Meanwhile, the growth in banking software industry is also resulting in the increasing incidences of money laundering. Companies are also focusing on developing anti-money laundering software with visualization tools as it significantly reduces the time required in analyzing the data, hypothesize monitoring strategies, and validate scenario deployment along with the scenario generation.
The report also includes SWOT analysis and Porter's five force analysis for better understanding of the market. Market attractiveness analysis was also conducted to identify various opportunities in the market. Incremental opportunity is also given in the report as it is one of the important factors that help manufacturers to identify growth opportunities. Advanced technologies, new product launches and research and development activities in the global anti-money laundering software market is also provided in the report.
According to a new research the global market for anti-money laundering software is likely to experience healthy growth, registering 12.1% CAGR between 2017 and 2026. The global market for anti-money laundering software is also likely to reach US$ 4,262.0 million revenue towards 2026 end.
Transaction Monitoring Systems- Top-Selling Anti-Money Laundering Software Product
Among various products, transaction monitoring system is likely to emerge as the top-selling anti-money laundering software product. By the end of 2026, transaction monitoring systems is estimated to surpass US$ 2000 million revenue. Well-designed transaction monitoring system is considered to be an important part of an effective anti-money laundering compliance program by financial institutions. Owing to the rapid phase of technological advances and increasing money laundering practices, a lot of financial institutions are updating their transaction monitoring system and are also increasingly investing in the transaction monitoring systems.
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Global Anti-Money Laundering Software Market- Segmentation
The global anti-money laundering software market is segmented on the basis of product type, end-user type, solution type, deployment type, and region. By product type, the segment includes transaction monitoring systems, customer identity management systems, Currency Transaction Reporting (CTR) Systems, and compliance management software.
Based on the end-user type, the market segment includes retail banking, corporate banking, private banking, investment banking, asset management, insurance, multiple banking services, legal service providers, and other end-users.
On the basis of solution type, the market includes transactional monitoring, KYC (Know Your Customer), fraud, risk & compliance management, watch-list screening, data warehouse management, analytics and visualization, alert management and reporting, case management, and other solutions. By deployment type, the segment includes cloud-based and on-premise.
The global anti-money laundering software market based on geography is divided into North America, Japan, Latin America, Asia Pacific Excluding Japan (APEJ), Europe, and the Middle East and Africa (MEA).
The report also provides extensive competitive analysis and profiles of the leading companies in the global anti-money laundering software market such as Fiserv, Inc., Accenture Inc., SAS Institute Inc., Opentext, Oracle Corp, Experian, FICO TONBELLER, EastNets, Ascent Technology Consulting, Trulioo., ACI Worldwide, Inc., BAE Systems, NICE, Verafin Inc., Siron, and NameScan, a member of the Neurocom group.
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