Global Anti-Money Laundering Software Market Size, Price Report 2025

Adroit Market Research studied Anti-Money Laundering Software Market Size by Deployment Type (On-Premise and Cloud), by Product Type (Transaction Monitoring Software, Currency Transaction Monitoring, Customer Identity Management, Compliance Management and Others), by Application, Financial institution (Tier -1 Commercial Banking, Tier -2 Credit & Finance institution, Tier -3 Micro Finance Institution and Tier -4 Loan Lending institution), by Region. The study includes global anti-money laundering software market size till 2025 along with company summaries which include company overview, product offering, and recent developments and financial overview.

By 2025, global anti-money laundering software market size is projected to cross USD 2 billion. Increased frauds in Fintech services & digital transactions and increased spending on IT solutions by financial institutions is expected to drive the growth of global anti-money laundering software market. Additionally, strict rules and regulations by Financial Action Task Force (FATF), International monetary funds, Bank Secrecy Act in the U.S. to increase the adoption of anti-money laundering software driving the AML software market growth.

Request a sample copy of this report: https://www.adroitmarketresearch.com/contacts/request-sample/342

On-premise is projected to be a preferred deployment type over cloud during the forecast period. Concerns over security and data theft for cloud deployment is the reason for slower adoption. These problems are expected to be solved coupled with other benefits such as pay-per-use model and cost-effectiveness and is projected to increase adoption of cloud in anti-money laundering software. The cloud segment is projected to grow at a CAGR of 12.1% during the forecast period in the global anti-money laundering software market.

Transaction monitoring software will continue its dominance with a share of around 50% during the forecast period. International banking systems are facing increased money laundering threats and hence major commercial banks worldwide are updating their transaction monitoring systems, which shall assist them in suspicious transaction monitoring on a real-time basis. This is expected to drive the growth of transaction monitoring systems within the global anti-money laundering software industry.

According to the United Nations Office on Drug and Crime, money laundering worldwide is estimated to be 2% of the global GDP. To counter these money laundering cases which are financing to terror activities and drug trafficking government have implemented various acts and rules in many regions for the financial institution. For instance, in North and Central America, USA Patriot Act and Bank Secrecy Act in the U.S., Proceeds of Crime (Money Laundering) in Canada and Federal Law for the Prevention and Identification of Operations in Mexico are the reason major financial institutions in the region have widely adopted to anti-money laundering software. Thus, North and Central America had the largest market in 2017 and is projected to grow at a CAGR of 8.46% during the estimated period in global anti-money laundering software market.

Technological developments such as machine learning which is capable of constructing algorithms that shall help in the predictive analysis are expected to revolutionize the anti-money laundering software. Machine learning is expected to reduce money laundering and thus improve the efficiency of financial institutions. Owing to which major tier 1 financial institutions such as commercial banks across the globe are expected to adopt and update to anti-money laundering software during the forecast period. Tier 1 financial institution is expected to have a share of more than 70% in the global anti-money laundering software industry.

Click to Continue Reading on https://www.adroitmarketresearch.com/industry-reports/anti-money-laundering-software-market

The key players associated in the global anti-money laundering software market are Oracle Corporation, Fiserv, Inc., Accenture Inc., SAS Institute Inc., Thomson Reuters Corporation, SunGard, FICO TONBELLER, Ascent Technology Consulting, EastNets and others. Deploying the latest AML solution for their clients is a key strategy adopted by the players in the market to strengthen their market position. For instance, in 2017, Fiserv, Inc. announced that it had deployed a cloud-based version of Fiserv AML Risk Manager for LuLu Exchange, a major player in currency exchange, cross-border remittance, and other financial services. This version shall offer techniques such as machine learning to detect suspicious transactions increasing fraud detection accuracy.

Segment overview of global anti-money laundering software

• Deployment Overview, 2012-2025 (USD million)

• On premise
• Cloud

• Product Overview, 2012-2025 (USD million)
• Transaction Monitoring Software
• Currency Transaction Monitoring
• Customer Identity Management
• Compliance Management
• Others
• Application Overview, 2012-2025 (USD million)
• Tier-1 Commercial banks
• Tier-2 Credit & finance institutions
• Tier 3 Micro finance Institutions
• Tier-4 Loan lending institutions
• Regional Overview, 2012-2025 (USD million)
• North & Central America
• U.S.
• Canada
• Mexico
• Europe
• France
• Germany
• Spain
• Russia
• Rest of Europe
• Asia Pacific
• India
• Japan
• China
• Rest of Asia Pacific
• South America
• Brazil
• Argentina
• Chile
• Rest of Latin America
• Middle East & Africa
• UAE
• Saudi Arabia
• South Africa
• Rest of Middle East and Africa

About Adroit Market Research:

Adroit Market Research provide quantified B2B research on numerous opportunistic markets, and offer customized research reports, consulting services, and syndicate research reports. We assist our clients to strategize business decisions and attain sustainable growth in their respective domain. Additionally, we support them with their revenue planning, marketing strategies, and assist them to make decisions before the competition so that they remain ahead of the curve.

Contact Us:

Ryan Johnson

Adroit Market Research

3131 McKinney Ave #600

Dallas, TX 75204

Tel: +1-214-884-6068

Email: sales@adroitmarketresearch.com

Working as Sr. Seo With Adroit Market Research