Anti-money Laundering Market by Component, Solution (KYC/CDD and Watchlist, Transaction Screening and Monitoring), Deployment Mode, End User (Banking and Financials, Gaming/Gambling Organizations), and Region – Global Forecast to 2025

2020-09-16
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Published : Sep-2020
No. of Pages : 316

The global post-COVID-19 AML Solution market size to grow at a Compound Annual Growth Rate (CAGR) of 15.6% during the forecast period

MarketsandMarkets forecasts the globalpost-COVID-19 AML Solution market size to grow from USD 2.2 billion in 2020 to USD 4.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 15.6% during 2020–2025. The major growth drivers for the market include stringent government regulation and increased focus of financial institutions on digital payment related issues. However, increased complexities of AML solutions limiting ability of early detection of frauds is restraining the market.

Transaction Screening and Monitoring Solution to grow at the highest rate during the forecast period

The transaction screening and monitoring solution is developed to meet AML and Counter Terrorism Financing (CTF) requirements, file Suspicious Activity Reports (SARs), and fulfill other reporting obligations resulting into providing organizations with an in-depth analysis of customers’ profile and risk levels and predict future activities. Additionally, the solution prepares comprehensive reports and alerts financial organizations about suspicious activities. Hence, transaction Screening and Monitoring Solution to grow at the highest rate during the forecast period

Large enterprises segment to hold a larger market size during the forecast period

Large enterprises are the early adopters of AML solutions, as they use many business applications that are susceptible to fraudulent attacks. As these enterprises are large, with different types of IT infrastructure, they face the difficult task of effectively managing the security of their applications. Unlike SMEs, large enterprises are well-equipped with technical skills, have higher investment capabilities, and are more exposed to incidents of frauds. This has led to higher awareness levels among large enterprises.

Europe to grow at the highest CAGR during the forecast period

The continuously developing regulatory landscape with new stringent data privacy laws such as AMLD5, GDPR, and PCI DSS and increasing fines due to non-compliance and the increased research on the implementation of technologies such as AI, ML, and big data technologies in AML solutions for the effective automation of AML risk management and reduction of false positive numbers is necessitating the implementation of AML Solution in the European region.

  • By Company: Tier I:33%, Tier II: 41%, and Tier III:26%
  • By Designation: C-Level:47%, Director35%: and Others:18%
  • By Region: North America: 49%, Europe: 29%, APAC: 17%, RoW: 5%

The report includes the study of the key players offering AML Solution solutions and services.It profiles major vendors in the global AML Solution market,includingACI Worldwide (US), BAE Systems (UK), NICE Actimize (US), FICO (US), SAS Institute (US), Oracle (US), Experian (US), LexisNexis Risk Solutions (US), Fiserv (US), FIS (US), Dixtior (Portugal), TransUnion (US), Wolters Kluwer (Netherlands), Temenos (Switzerland), Nelito Systems (India), TCS (India), WorkFusion (US), Napier (US), Quantaverse (UK), ComplyAdvantage (US), Acuant (US), FeatureSpace (UK), FeedZai (US), Finacus Solution (India), CaseWire (Canada) and Comarch SA (Poland).

Research coverage

The report segments the global AML Solution market by component, solutions, services, deployment mode, organization size, end user, and region.The solution segment comprises KYC/CDD and Watchlist, Transaction Screening and Monitoring, case Management and  Regulatory Reporting.The deployment mode segment comprises cloud and on-premises.The organization size segment comprises SMEs and large enterprises. The AML Solution market by end users includes banking and Financials, Insurance Providers and Gaming/Gambling organizations. The report covers the AML Solution market with respect to 5 major regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA) and Latin America.

The report would help the market leaders and new entrants in the global AML Solution market in the following ways:

  • The report segments the market into various sub segments. Hence it covers the market comprehensively. It provides the closest approximations of the revenue numbers for the overall market and its sub segments. The market numbers are split further across applications and regions.
  • It helps in understanding the overall growth of the market. It also provides information about key market drivers, restraints, challenges, and opportunities.
  • It helps stakeholders in understanding their competitors better and gaining more insights to strengthen their positions in the market. The study also presents the positioning of the key players based on their product offerings and business strategies.
Filed in: Information Technology
Publisher : marketsandmarkets
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