Anti-money laundering software Market is a comprehensive study of the global market and has been recently added by Absolute Markets Insights to its extensive database. Augmented demand for the global market has been increased in the last few years. This informative research report has been scrutinized by using primary and secondary research. The Global Anti-money laundering software Market is a valuable source of reliable data including data of the current market.
The author of the report analyzed that the global anti-money laundering software market accounted for US$ 1,195.08 million in 2017. Transformational regulatory changes, technology improvements, and evolving legal precedents in the banking and financial sector along with the convergence of Financial Crimes Compliance (FCC) are some of the factors which have led to the increased adoption of anti-money laundering software market.
Recent regulatory focus has focused primarily on money laundering risks associated with digital payment methods such as electronic payments and mobile wallets. The process of curbing cybercrime and combating the money laundering risks associated with virtual currencies is now a high priority. Increasingly, financial institutions are adopting transaction monitoring and leveraging browser-based commercial watch list delivery. This process will help you immediately find out how to violate the new policy. The banking and financial industries are rapidly adopting enterprise-wide case management systems and centralized control.
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On-Premise is Estimated to be the Fastest Growing Deployment Type during the Forecast Period.
On-premises deployments of anti-money laundering software are the most widely implemented types compared to cloud-based deployments. Due to the large volume of currency transactions performed in banks, insurance and other financial services operations, on-premises deployments provide a more secure option because sensitive information about the generated transactions is less likely to be hacked and leaked. This is the main reason for the widespread adoption of security provided by on-premises deployments.
The key questions answered in the report:
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Anti-money Laundering Software Market is Fragmented in Nature with the Presence of Global and Regional Players
Some of the significant players functioning in the global anti-money laundering software market include Nelito Systems Limited, Tipalti, Open Text Corporation, Trulioo, 3i Infotech, EastNets, Verafin Inc., Tata Consultancy Services Limited, RiskMS (AMLcheck), Accenture, Fiserv Inc. and Cognizant amongst others.
Open Text Corporation has strategic partnerships with companies like SAP SE, Microsoft Corporation and Accenture. It is a Canadian organization and is engaged in providing automated cyber risk management software services, forensic security and analytics solutions. The Company also provides cloud services.
Key Market Segments of Anti-money laundering software Market are:
- What will be the market size and growth rate in the forecast year?
- What are the key factors driving the Global Anti-money laundering software Market?
- What are the risks and challenges in front of the market?
- Who are the key vendors in the Global Anti-money laundering software Market?
- What are the trending factors influencing the market shares?
- What are the key outcomes of Porter’s five forces model?
- Which are the global opportunities for expanding the Global Anti-money laundering software Market?
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About Absolute Markets Insights:
- Anti-money Laundering Software Market - By Component
- Anti-money Laundering Software Market - By End User
- Retail Banking
- Corporate Banking
- Private Banking
- Investment Banking
- Asset Management
- Multiple Banking Services
- Legal Service Providers
- Others (Credit Unions etc.)
- Anti-money Laundering Software Market - By Deployment Type
- Anti-money Laundering Software Market - By Product Type
- Compliance Management Software
- Currency Transaction Reporting (CTR) Systems
- Customer Identity Management Systems
- Transaction Monitoring Systems
- Anti-money Laundering Software Market - By Solution Type
- Transaction Monitoring
- KYC (Know Your Customer)
- Fraud, Risk and Compliance Management
- Watch-list Screening
- Data Warehouse Management
- Analytics and Visualization
- Alert Management and Reporting
- Case Management
- Anti-money Laundering Software Market - By Region
- North America
- Rest of North America
- The UK
- Rest of Europe
- Asia Pacific
- Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Southern Africa
- Rest of Middle East and Africa
- Latin America
- Rest of Latin America
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