Anti-money laundering software is software used in the finance and legal industries to meet the legal requirements for financial institutions and other regulated entities to prevent or report money laundering activities. There are four basic types of software that address anti-money laundering: transaction monitoring systems, currency transaction reporting (CTR) systems, customer identity management systems and compliance management software.
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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.
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An important growth driver for this market is the increasing regulatory compliance requirements, which compels financial institutions to adopt AML software. The growing utilization of predictive analytics to reduce false results and to decrease the compliance cost of AML software is a trend that will impel market growth until the end of 2024.
Europe to be the largest market for AML software during the forecast period.
In 2018, the global Anti-money Laundering Solution market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of xx% during 2019-2025.
Though the Europe accounts for the largest market share, the APAC region is envisaged to witness the fastest growth during the predicted period. United States will still play an important role which cannot be ignored.
Any changes from United States might affect the development trend of Anti-money Laundering Software. Factors such as the rising adoption of stringent AML regulations, increasing regulatory compliance, and the growing adoption of these solutions in emerging economies like China, Mid-east and India will propel the prospects for market growth in APAC during the estimated period.
This report focuses on the global Anti-money Laundering Solution status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Anti-money Laundering Solution development in United States, Europe and China.
USA, Canada, Germany, China and Ireland are now the key developers of AML software. Oracle, Thomson Reuters, Fiserv, SAS, SunGard, Experian, ACI Worldwide, Tonbeller, Banker's Toolbox, Nice Actimizem, CS&S, Ascent Technology Consultingm, Cellent Finance Solutions, Verafin and EastNets are the key suppliers in the global AML software market.
Top 10 took up about 2/3 of the global market in 2016. Abroad vendors took up about than 50% of the Chinese market.
Oracle, Thomson Reuters, Fiserv, SAS, SunGard, Experian, ACI Worldwide, which have leading technology and market position, are key suppliers around the world.
The key players covered in Anti-money Laundering Solution study
Ascent Technology Consulting
Safe Banking Systems
Market segment by Type, the product can be split into
Transaction Monitoring Software
Currency Transaction Reporting (CTR) Software
Customer Identity Management Software
Compliance Management Software
Market segment by Application, split into
Tier 1 Financial Institution
Tier 2 Financial Institution
Tier 3 Financial Institution
Tier 4 Financial Institution
Market segment by Regions/Countries, this report covers
Central & South America
The study objectives of this report are:
To analyze global Anti-money Laundering Solution status, future forecast, growth opportunity, key market and key players.
To present the Anti-money Laundering Solution development in United States, Europe and China.
To strategically profile the key players and comprehensively analyze their development plan and strategies.
To define, describe and forecast the market by product type, market and key regions.
In this study, the years considered to estimate the market size of Anti-money Laundering Solution are as follows:
History Year: 2014-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025