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Anti Money Laundering Software Market Size and Share | Industry Analysis, 2025

The global market is expected to reach $2,717.0 million by 2025, registering a CAGR of 15.2%. Europe governed the overall market in 2017

Niranjanpetkar
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Anti Money Laundering Software Market Size and Share | Industry Analysis, 2025

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  1. Opportunity Analysis and Industry Forecast, 2016-2023 Anti-Money Laundering Software Market Global Opportunity Analysis and Industry Forecast, 2018-2025

  2. Anti-Money Laundering Software Market Overview : Anti-money laundering (AML) software refers to a solution, which enables banks and other financial institutions to monitor customer behavior for suspected criminal financial activities through automated processes. Different types of AML solutions such as transaction monitoring, currency transaction reporting, customer identity management, and compliance management have been considered under anti-money laundering software market. Increase in the volume of global transactions has fueled the deployment of AML solutions in banks and other financial institutions. The global anti-money laundering software market size was valued at $879.0 million in 2017, and is projected to reach $2,717.0 million by 2025, registering a CAGR of 15.2% from 2018 to 2025. The major factors that drive the growth of the anti-money laundering software market include increased AML regulatory requirements, rise in money laundering cases, and growth in IT spending. However, dearth in number of AML professionals is anticipated to hamper the anti-money laundering software market growth. On the contrary, emerging artificial intelligence technology in AML solutions and increased adoption of cloud-based solutions are expected to provide lucrative opportunities for market expansion during the forecast period.

  3. Anti-Money Laundering Software Market Overview : The customer identity management segment led the overall market in 2017, and is expected to maintain its dominance in the near future, owing to rise in cases of identity theft-based money laundering cases. Get sample Report: http://bit.ly/2PC11gf The on premise-based AML solutions segment dominated the market in 2017, due to enhanced security offered by these systems. However, the cloud-based segment is expected to witness highest growth rate, due to rise in adoption of cloud-based solutions in small- & medium-sized financial organizations to combat money laundering.

  4. Anti-Money Laundering Software Market Overview : Europe governed the overall market in 2017, owing to high adoption of AML solutions and enforcement of stringent government regulations to deploy AML solutions in financial institutions across the region. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period, owing to factors such as rise in bank IT spending and increase in government initiatives toward money laundering. Access Full Report: http://bit.ly/2RTLzxD The report focuses on drivers and restraints of the market based on the analysis of regional trends. Moreover, the study provides Porter’s five forces analysis of the industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the growth of the market.

  5. Segment review & Top impacting factors The global anti-money laundering software market is segmented based on component, product, deployment type, and region. On the basis component, it is bifurcated into software and services. By product, it is divided into transaction monitoring, currency transaction reporting, customer identity management, and compliance management. Depending on deployment type, it is categorized into cloud and on-premise. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The key players operating in the global anti-money laundering software market include ACI Worldwide, Inc., Ascent Technology Consulting, Eastnets Holding Ltd., FICO TONBELLER, NICE Actimize, Regulatory DataCorp, Inc., Safe Banking Systems LLC, SAS Institute Inc., Thomson Reuters Corporation, Truth Technologies, Inc., and Verafin Inc. The global anti-money laundering software market is influenced by numerous factors such as surge in money laundering cases, implementation of stringent government regulations to deploy AML solutions, and increase in IT spending among financial institutions. Moreover, dearth of AML skilled personnel is expected to impact the market growth during the forecast period. However, each factor has its definite impact on the market growth.

  6. Rise in money laundering cases Rise in online banking institutions, peer-to-peer transfers using mobile phones, anonymous online payment services, and use of virtual currencies have led to increase in money laundering cases. Banks suffer a huge economic loss, owing to these money laundering fines. A total fine of more than $26 billion was imposed for non-compliance with AML, KTC, and sanction regulations in the last decade. Both developed as well as developing economies reported significant money laundering cases and respective fines, owing to their well-established finance industry. For instance, recently, Danske Bank announced that between 2007 and 2015, about $235 billion transactions flowing through its Estonian branch were found to be associated with money laundering. According to anti-money laundering experts, a penalty of $8.3 billion might be imposed on Danske Bank. Similar cases have been recorded in the recent years, wherein banks had to pay a huge fine for money laundering. These high amount of losses incurred are motivating financial institutions to adhere to regulatory requirements, which fuel the adoption of AML solutions, thereby boosting the growth of the market.

  7. Implementation of government regulations to deploy AML solutions Both developed as well as developing countries have implemented several legislations to combat money laundering. The Financial Action Task Force (FATF) is an international body, which encourages countries across the globe to create a financial intelligence unit to manage the flow of information between law enforcement agencies and institutions. In addition, government regulations passed by each country’s financial intelligence unit have motivated financial institutions to implement effective AML solutions that act as first defense against money laundering and terrorist financing. Some major regulatory bodies and acts include the USA Patriot Act, Bank Secrecy Act in the U.S., Europe’s EU Fourth Anti-money Laundering Directive, Canada’s Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), Anti-money Laundering, and Counter-Terrorism Financing Act of 2006 in Australia. In addition, Eastern and Southern Africa Anti-money Laundering Group (ESAAMLG) in Africa aims to prevent money laundering cases.

  8. Growth in IT expenditure among banks Increase in IT expenditure has motivated companies to adopt advanced technologies and solutions. Rise in need for improved compliance capabilities within financial institutions to address complex regulatory and business environment fuels the market growth. Banks are significantly investing in technologies to enhance and secure their infrastructure. For instance, Citigroup is expected to invest around $8.0 billion on technologies in 2018, which is more than 20% of the bank’s expense budget. Moreover, according to a survey conducted by RSM Consulting, more than one-third banks announced an increase in their spending on anti-money laundering programs in 2017. In addition, 44% of banks reported an increase of 5‐10% in their AML and BSA budgets, and the others expected a growth of 11‐20% in their spending. This rise in technological budgets acts as a major driver of the AML market.

  9. Key Benefits for Anti-Money Laundering Software Market : • This study includes anti-money laundering software market analysis along with current trends and future estimations to determine the imminent investment pockets. • The report presents information related to key drivers, restraints, and opportunities. • The current market is quantitatively analyzed from 2017 to 2025 to highlight the financial competency of the industry. • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the global anti-money laundering software industry.

  10. Anti-Money Laundering Software Key Market Segments : BY COMPONENT - Software - Service BY PRODUCT - Transaction Monitoring - Currency Transaction Reporting - Customer Identity Management - Compliance Management BY DEPLOYMENT TYPE - Cloud - On-premise

  11. Anti-Money Laundering Software Key Market Segments : • BY REGION • North America • - U.S. • - Canada • - Mexico • Europe • - UK • - Germany • - France • - Rest of Europe • Asia-Pacific • - China • - India • - Japan • - Rest of Asia-Pacific • LAMEA • - Latin America • - Middle East • - Africa

  12. ACI Worldwide, Inc. • Ascent Technology Consulting • Eastnets Holding Ltd. • FICO TONBELLER • NICE Actimize • Regulatory DataCorp, Inc. • Safe Banking Systems LLC • SAS Institute Inc. • Thomson Reuters Corporation • Truth Technologies, Inc. • Verafin Inc. KEY MARKET PLAYERS

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