This market research report presents a detailed segmentation of the global anti-money laundering (AML) software market by geography (Americas, EMEA, and APAC) and by deployment model (on-premises and cloud). The key vendors analyzed in this report are ACI Worldwide, AML360, AML Partners, AML RightSource, BAE Systems, EastNets, Experian, Fiserv, Nice Actimize, Oracle, Reed Elsevier (RELX Group), Safe Banking Systems, SAS, SunGard, Thomson Reuters, Tonbeller, Truth Technologies, and Verafin.
Technavio’s market research analysts estimate the global AML software market, to grow at a CAGR of around 11% between 2016 and 2020. 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. APAC is expected to be the fastest-growing region in the AML market over the next few years. Much of this market’s growth can be attributed to the rising adoption of stringent anti-money laundering regulations, increasing regulatory compliance, and the growing adoption of these solutions in emerging economies like Australia, China, and India.
The new market research report from Technavio provides a breakdown and analysis of the AML software segments by technology
“An important trend gaining traction in the AML market is the increasing regulatory compliance requirements, which compels financial institutions to adopt AML software. Organizations are effectively using predictive analytics to reduce false results and to decrease the compliance cost of AML software. Also, through predictive analytics, the enterprises can encode more information about an account or a customer’s activity,” says Amrita Chaudury, Lead Analyst, ICT, Technavio Research.
The on-premises AML software segment accounted for the majority of the market revenue, accounting for 92% of the overall market. However, the AML market is expected to witness rapid growth of cloud-based AML software during the forecast period. Several AML software vendors have started delivering software-as-a-service (SaaS) AML to leverage the growing adoption of cloud-based AML solutions. Cloud-based solutions are more popular with small businesses because of their cost effectiveness. Vendors such as Verafin and CSI provide only cloud-based AML solutions.
The leading vendors in the global AML software market include ACI Worldwide, AML360, AML Partners, AML RightSource, BAE Systems, EastNets, Experian, Fiserv, Nice Actimize, Oracle, Reed Elsevier (RELX Group), Safe Banking Systems, SAS, SunGard, Thomson Reuters, Tonbeller, Truth Technologies, and Verafin. This 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
A more detailed analysis is available in the Technavio report, Global AML Software Market 2016-2020.
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