Dallas, Texas, Dec. 15, 2020 (GLOBE NEWSWIRE) -- The “Anti-Money Laundering Solution Market by Component (Solutions, Services), Technology (Know Your Customer Systems, Case Management, Transaction Monitoring, Auditing & Reporting, Compliance Management), Application (BFSI, Telecom & IT, Healthcare, Manufacturing, Retail, Government, Others), and Region, Global Forecast 2018 to 2025” study provides an elaborative view of historic, present and forecasted market estimates.
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The global anti-money laundering solution market size is anticipated to reach at USD 186 billion by 2025. The growth is attributed due to its significance in banks, financial institution, and other organizations to analyze customer data and monitor suspicious transactions. AML solutions operate in different categories such as currency transaction report, compliance software, and customer identity management. The solutions enable real-time alert and systems to report suspicious activities to enhance operational effectiveness and security.
AML provides fully integrated data warehouse, data normalization, and data model covering all aspects of account activity and trading for organizations. It also facilitates organizations in operating in the industry to recognize the growth prospects to fuel their operations. However, high cost implementation, complexity of data interpretation, and data security issues, are some of the challenges that are restricting the growth of anti-money laundering market.
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Based on the technology segment, the market is bifurcated into know your customer systems, case management, transaction monitoring, auditing & reporting, and compliance management. In 2019, the transaction monitoring segment gathered the largest market revenue and it is anticipated to dominate the market throughout the forecast period. It offers a complete view of customer activities that include deposits, withdrawals, and transfers. Transaction monitoring delivers a control mechanism to avoid anti-money laundering solution actions in real-time. However, the case management segment is anticipated to grow at a substantial growth rate over the forecast period.
The global anti-money laundering solution market has strong competition among the well-established and new emerging players. These market players target to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
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The global anti-money laundering solution industry is a wide range to North America, Asia Pacific, Europe, South America, and the Middle East & Africa. North America is considered a mature market in the anti-money laundering solution applications, owing to an outsized presence of organization with the availability of technical expertise and advanced IT infrastructure. The US and Canada are the highest contributory countries to the expansion of the anti-money laundering solution market in North America.
The major players of the global anti-money laundering solution market are FICO, NICE, ACI Worldwide, BAE Systems, SAS Institute, LexisNexis, FIS Global, Experian, CaseWare, WorkFusion, Fiserv, TransUnion, Oracle, and more. The anti-money laundering solution market is fragmented with the existence of well-known global and domestic players across the globe.
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Major Points from Table of Contents:
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Executive Summary
Chapter 4 Market Outlook
Chapter 5 Anti-Money Laundering Solution Market by Component
Chapter 6 Anti-Money Laundering Solution Market by Technology
Chapter 7 Anti-Money Laundering Solution Market by Application
Chapter 8 Anti-Money Laundering Solution Market By Region
Chapter 9 Competitive Landscape
Chapter 10 Company Profiles
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