Global Anti Money Laundering (AML) Software Market by Type (On-Premise, Cloud-Based), By Application (Transaction Monitoring, Currency Transaction Reporting, Customer Identity Management, Compliance Management, Sanction Screening and Case Management) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global anti money laundering (AML) software market is expected to grow at a CAGR of 10.8% from 2018 to 2030. The growth of the market can be attributed to the increasing instances of money laundering and terrorist financing activities, and the need for compliance with various regulatory requirements across different geographies. On-premise AML software held a major share of the global AML software market in 2017, owing to its advantages such as enhanced security and control over data. However, cloud-based AML software is expected to grow at a higher CAGR during the forecast period, due to its advantages such as scalability, flexibility, and reduced Total Cost of Ownership (TCO). Transaction monitoring was the largest application segment in 2017 and is projected to maintain its dominance during the forecast period. This can be attributed to increased compliance requirements related to Know Your Customer (KYC) norms across different geographies.



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Product Definition:

Anti-money laundering (AML) software is a type of computer software that helps financial institutions prevent money laundering. AML software typically contains three modules: customer identification, transaction monitoring, and reporting. The customer identification module verifies the identities of customers and determines their risk levels. The transaction monitoring module reviews transactions for suspicious activity.

On-Premise:

On-premise software is a type of financial data management software that is installed and used on the end user's own computers or servers. The anti money laundering (AML) market size was valued at USD 1,337.1 million in 2016 and it is expected to grow at a CAGR of XX% over the forecast period.

Cloud-Based:

Cloud-based software is a type of software service that provides remote access to data or applications. It is an on-demand service, which means that the end users can access the services at any time and from anywhere in the world. The cloud based AML software offers various benefits such as reduced costs, increased efficiency, enhanced security & compliance and faster processing speed. These factors are anticipated to drive market growth over the forecast period.

Application Insights:

Anti money laundering software is used across different applications, namely transaction monitoring, currency transaction reporting, customer identity management, compliance management and sanction screening and case management. The transaction monitoring segment dominated the market in 2017 owing to its ability to identify suspicious or unusual activity. It helps financial institutions monitor transactions and identify potential sources of funds that may be associated with illegal activities such as drug trafficking or terrorism financing.

Currency transaction reporting application is expected to grow at a significant rate over the forecast period due to its ability of detecting cross-border transfers of monetary values that are conducted frequently by criminals for avoiding detection. Furthermore, anti money laundering software allows customers to manage their data from a single platform which includes compliance aspects along with advanced analytics capabilities for identifying suspicious behavior across all channels including online banking transactions through ATMs etc. This capability enables financial institutions conduct efficient investigations leading to reduced risk exposure while handling clients funds thereby driving the demand for anti money laundering software among banks and other regulated entities worldwide.

Regional Analysis:

The market in Asia Pacific is expected to grow at a lucrative rate over the forecast period. The growth can be attributed to increasing money laundering activities, rising regulatory pressure, and inadequate AML infrastructure across banks in the region. Moreover, growing adoption of cloud-based anti-money laundering software by financial institutions is also driving regional growth.

Increasing terrorist financing and cross border crime are some of the factors that have led governments across Europe to adopt stringent AML laws over the past few years. This has resulted in increased government spending on compliance management systems and other related services for financial institutions operating in their countries; hence driving regional growth. However, sluggish economic conditions within European countries may hinder market growth during the forecast period; this will depend upon individual country’s economic performance as well as its banking sector health & stability (BOS&H).

Growth Factors:

Increasing incidence of money laundering: The Anti Money Laundering (AML) Software market is driven by the increasing incidence of money laundering. Money laundering is a process that helps criminals disguise the origins of their illegally obtained funds, making it difficult for law enforcement agencies to track them down. AML software helps financial institutions and other organizations identify and track suspicious transactions, in order to prevent money laundering activities from taking place.
Stringent government regulations: Financial institutions are required to comply with a number of stringent government regulations related to anti-money laundering activities. These regulations mandate the use of specialized AML software solutions in order to ensure compliance with regulatory requirements. The growing awareness among businesses about the importance of complying with these regulations is driving demand for AML software solutions.


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Scope Of The Report
Report Attributes
Report Details
Report Title
Anti Money Laundering (AML) Software Market Research Report
By Type
On-Premise, Cloud-Based
By Application
Transaction Monitoring, Currency Transaction Reporting, Customer Identity Management, Compliance Management, Sanction Screening and Case Management
By Companies
Accuity, ACI Worldwide, CaseWare, FICO, AML Partners, BAE Systems, Experian, Fiserv, LexisNexis, NICE Actimize, Oracle, Infrasofttech, Global Radar, SAS, Targens, Temenos
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
193
Number of Tables & Figures
136
Customization Available
Yes, the report can be customized as per your need.

Global Anti Money Laundering (AML) Software Market Report Segments:
The global Anti Money Laundering (AML) Software market is segmented on the basis of:
Types
On-Premise, Cloud-Based
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Transaction Monitoring, Currency Transaction Reporting, Customer Identity Management, Compliance Management, Sanction Screening and Case Management
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
Accuity
ACI Worldwide
CaseWare
FICO
AML Partners
BAE Systems
Experian
Fiserv
LexisNexis
NICE Actimize
Oracle
Infrasofttech
Global Radar
SAS
Targens
Temenos



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Highlights of The Anti Money Laundering (AML) Software Market Report:
The market structure and projections for the coming years.
Drivers, restraints, opportunities, and current trends of market.
Historical data and forecast.
Estimations for the forecast period 2030.
Developments and trends in the market.
By Type:
On-Premise
Cloud-Based
By Application:
Transaction Monitoring
Currency Transaction Reporting
Customer Identity Management
Compliance Management
Sanction Screening and Case Management
Market scenario by region, sub-region, and country.
Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Anti Money Laundering (AML) Software Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
Correctly Positioning New Products
Market Entry Strategies
Business Expansion Strategies
Consumer Insights
Understanding Competition Scenario
Product & Brand Management
Channel & Customer Management
Identifying Appropriate Advertising Appeals



8 Reasons to Buy This Report
Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
Implemented Robust Methodology to Prepare the Report
Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
Provides Information About the Top-winning Strategies Implemented by Industry Players.
In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
Customization of the Report Available

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