Global Transaction Monitoring Market Is Expected to Reach USD 21.2 Billion by 2025 : Fior Markets

Transaction Monitoring Market by Component (Solution, Services), Function, Deployment Model, Organization Size, Vertical, Application Area, Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025

Pune, INDIA


Newark, NJ, Feb. 26, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global transaction monitoring market is expected to grow from USD 6.7 Billion in 2017 to USD 21.2 Billion by 2025 at a CAGR of 15.5% during the forecast period 2018-2025. Need to manage KYC compliance, mitigate money laundering & CTF activities, adoption of advanced analytics to provide proactive risk alerts and organizations’ requirement to comply with strict regulatory compliances are the factors fuelling the transaction monitoring market.

Transaction monitoring is defined as the checking of customer transactions, including assessing historical/current customer information and interactions to provide a complete picture of customer activity. It consists of transfers, deposits, and withdrawals. Most financial firms will use software to automatically analyse this data. Potentially, the most effective approach to transaction monitoring in AML would be to have an employee manually stop and interrogate every transaction completed by a customer. Only after this review would the transaction be authorized for completion. While the sheer amount of resources required makes this a ridiculous proposition, some organizations could be exposing themselves to potentially greater levels of risk through the automated approach adopted for their transaction monitoring systems (TMS).

The managing of KYC compliance and alleviate money laundering and CTF activities is a major factor driving the market. In addition, the acceptance of progressive analytics to provide proactive risk alerts and organizations’ requirement to obey with strict regulatory compliances also influences the demand. However, the lack of risk analysis professionals may obstruct the growth of the market. Nevertheless, rising digitalization in payment transaction process may boost the market in forthcoming years.

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Key players operating in the global transaction monitoring market include NICE, Oracle, FICO, BAE Systems, Fiserv, SAS, Experian, FIS, ACI Worldwide, Refinitiv, Software AG, ComplyAdvantage, Infrasoft Technologies, ACTICO, ComplianceWise, EastNets, Bottomline, Beam Solutions, IdentityMind, and CaseWare among others. To enhance their market position in the global Transaction Monitoring market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.

  • For instance, in October 2018, Fiserv partnered with DadeSystems, a provider of payment processing solutions. Both companies would work together to develop and offer SaaS-based or standalone banking solutions to their integrated commercial clients.

The solution segment is dominating the market with a market share of 64.20% in 2017

Component segment includes solution and services. Solution segment is dominating the market with the highest share of 64.20% in 2017. Rising malware and Zero-day attacks leads to use of transaction monitoring software

KYC/Customer onboarding segment valued around USD 2.62 Billion in 2017

Function segment is divided into segments such as a case management, KYC/Customer onboarding, dashboard and reporting and watch list screening. KYC/Customer onboarding is dominating the market and valued around USD 2.62 Billion in 2017. The organizations’ need to manage KYC compliance is facilitating the demand of the segment.

The cloud segment held the market share of 61.70% in 2017

The deployment model segment includes cloud and on-premises. The cloud segment held market share of 61.70% in 2017. The cloud-based platform offers a unified way in the form of Software-as-a-Service (SaaS)-based security services to secure business applications. It is also beneficial for organizations with strict budgets for security investments

The small and medium-sized enterprises segment valued around USD 4.00 Billion in 2017

The organization size segment includes small and medium-sized enterprises and large enterprises. The small and medium-sized enterprises segment is dominating the market and valued around USD 4.00 Billion. It is due to the increasing data protection regulations and lack of high-cost security solution within the payment network infrastructure. SMEs are small in terms of their size, but cater to a large number of customers globally.

The banking, financial services, and insurance segment is dominating the segment with the highest share of 29.20% in 2017

The vertical segment includes banking, financial services, and insurance, manufacturing, retail, telecommunications and IT, government and defense, healthcare, energy and utilities and others. The banking, financial services, and insurance segment is dominating the segment with the highest share of 29.20% in 2017. Increasing threat to monetary transactions has motivated BFSI organizations to use transaction monitoring solutions

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The anti-money laundering segment is dominating the market with USD 2.49 Billion in 2017

The application area segment is classified into anti-money laundering, customer identity management, fraud detection and prevention and compliance management. The anti-money laundering segment is dominating the market and valued with USD 2.49 Billion in 2017. Need for reventing money laundering across the world to fuel the adoption of transaction monitoring

Regional Segment Analysis of the Transaction Monitoring Market

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
  • Asia-Pacific (China, Japan India, Rest of APAC)
  • South America (Brazil and Rest of South America)
  • Middle East and Africa (UAE, South Africa, Rest of MEA)

The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America region dominated the global transaction monitoring market with USD 2.63 Billion in 2017 where as the Asia Pacific is growing rapidly in the market. North America is dominating region due to the rising need to manage KYC compliance and mitigate money laundering and Counter-Terrorist Financing (CTF) activities and use of advanced analytics to provide proactive risk alerts are some of the key factors expected to fuel the growth of the transaction monitoring market in North America. The Asia Pacific is the fastest growing region as the transaction monitoring solution provides proactive security measures for preventing data breaches. SMEs as well as large organizations in the APAC region have become more aware of the transaction monitoring process and its benefits and started adopting them to secure from suspicious transactions and money laundering activities.

About the report:

The global transaction monitoring market is analysed on the basis of value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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