New York, April 06, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "GLOBAL TRANSANCTION MONOTORING SOFTWARE MARKET FORECAST 2020-2028" - https://www.reportlinker.com/p05880960/?utm_source=GNW
Transaction monitoring is a type of software that helps to monitor customer money transactions such as cash deposits, withdrawals, and wire transfers by financial institutions such as commercial banks, credit unions, and finance companies.It helps them in providing a wholesome report of a customer’s deposits.
A considerable increase in online transactions was recorded recently, supported by various government initiatives.The increase in online shopping and the penetration of smartphones has also led to the rise in the adoption of simple and secure payment modes.
Further, merchant outlets initiated the adoption of digital instruments to transfer money across bank accounts, which provides a convenient way to transfer money across bank accounts.
One of the significant challenges faced by the financial industry is the shortage of skilled professionals, especially people with transaction monitoring skills like in-depth knowledge of AML monitoring.It takes time for the companies to train the workforce on AMI skills.
The growth for AML monitoring and transaction monitoring requires highly advanced skill sets, and the small talent pool is hampering the market growth. There are many leading players in the market, offering different services and solutions at different pricing strategies.
REGIONAL INSIGHTS
The global transaction monitoring software market is analyzed geographically on the basis of markets situated in North America, Europe, Asia Pacific, and the Rest of the World.As of 2019, the region of North America holds the largest market share and continues the trend by the end of the forecast period.
This is attributed to the increase in the number of transaction frauds, terrorist funding, money laundering, financial theft, and data theft.
COMPETITIVE INSIGHTS
Some of the prominent industry players registering their presence in the market are ACI Worldwide Inc, Software AG, Oracle Corporation, Infrasoft Technologies Limited, Experian PLC, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
Companies mentioned
1. ACI WORLDWIDE INC
2. BAE SYSTEMS
3. FAIR ISAAC CORPORATION
4. FISERV INC
5. FIS
6. NICE LTD
7. ORACLE CORPORATION
8. SAS INSTITUTE INC
9. SOFTWARE AG
10. THOMSON REUTERS CORPORATION
11. INFRASOFT TECHNOLOGIES
12. EXPERIAN PLC
13. BOTTOMLINE TECHNOLOGIES
14. COMPLYADVANTAGE
15. DOW JONES RISK & COMPLIANCE
Read the full report: https://www.reportlinker.com/p05880960/?utm_source=GNW
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The global transaction monitoring software is estimated to grow at a CAGR of 14.10% over the forecast period of 2020-2028
The rise in various cyberattacks, fraudulent attacks, and data thefts in various businesses owing to the ongoing trend of digitalization are the major factors propelling the market. MARKET INSIGHTS
| Source: ReportLinker