Anti-Money Laundering Software CAGR

  • Latest market study on "Anti-Money Laundering Software Market to 2027 by Deployment Type (On-premise and Cloud); Component (Software and Services); Product (Transaction Monitoring, Compliance Management, Currency Transaction Reporting, and Customer Identity Management); and End User (Healthcare, BFSI, Retail, IT & Telecom, Government, and Others) - Global Analysis and Forecast", the anti-money laundering software market is estimated to reach US$ 4,993.2 Mn by 2027 from US$ 905.7 Mn in 2018. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.

  • The financial ecosystem lately has been revolutionized by the rapid developments in the machine learning, data science, and their ability to produce algorithms for predictive data analytics. Machine leaning in the recent times has proved to be holding great promise for the banking system, particularly in the area of detecting hidden patterns and suspicious money-laundering activities. Machine learning facilitates identification of money-laundering typologies, strange and suspicious transactions, behavioral transitions in customers, transactions of customers belonging to same geography, age, groups and other identities; and helps reduce false positives.