Tuesday, July 3, 2018
Anti-money Laundering Software market Analysis, Industry Share, Size, Strategies and Forecast with Upcoming Trends 2018
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According to a new market report published by Credence Research
Inc., “Global Anti-money
Laundering Software Market (By Functionality
(Transaction Monitoring, Currency Transaction Reporting (CTR), Customer
Identity Management and Compliance Management), By Deployment Model (Cloud and
On-premise), By End-use Vertical (BFSI, Defense and Government, Healthcare, IT
& Telecom, Retail, Transportation and Logistics, Others (Manufacturing,
Energy and Utilities, etc.)))- Growth, Future Prospects and Competitive
Landscape, 2018 – 2026”, the global anti-money laundering software market is
expected to demonstrate a CAGR of 12.5% during the forecast period to reach US$
4,173.9 Mn by 2026.
Browse the full “Global Anti-money Laundering Software Market
(By Functionality (Transaction Monitoring, Currency Transaction Reporting
(CTR), Customer Identity Management and Compliance Management), By Deployment
Model (Cloud and On-premise), By End-use Vertical (BFSI, Defense and Government,
Healthcare, IT & Telecom, Retail, Transportation and Logistics, Others
(Manufacturing, Energy and Utilities, etc.))) - Growth, Future Prospects and
Competitive Landscape, 2018 – 2026” report at http://www.credenceresearch.com/report/anti-money-laundering-software-market
Product Insights
Growing cases of money laundering incidences across varied
verticals has yielded significant demand for anti-money laundering software
worldwide. Anti-money laundering software has become an integral component of
compliance regimes conducted by financial institutions since it allows them to
comply with related regulations. The banking and financial institutions
continue to battle against the rising risk from financial frauds including
high-profile money laundering cases that represents one of the most challenging
issues.. With advancements in technology and consequent rise in digitization,
money laundering has emerged as a widespread issue with serious social and
economic ramifications. In order to avoid and address this issue, anti-money
laundering software are being increasingly deployed and used across banks,
business organizations, and financial institutions.
Implementation of anti-money laundering software has been made
mandatory by various regulatory authorities across the globe. The prime goal of
anti-money laundering software is to protect business organizations against
money laundering incidences and ensure that the organization is in full
compliance with relevant laws and regulations. Every year millions of dollars
are invested on anti-money laundering solutions in an attempt to stop and
regulate money laundering activities. Furthermore, integration of Big Data
analytics and automated transaction monitoring systems with anti-money
laundering software anticipated to support the market growth during the
forecast period. However, higher implementation costs and difficulties faced in
data interpretation are some of the factors restraining the growth of
anti-money laundering software market.
Based on functionality, the global anti-money laundering market
was led by the transaction monitoring segment contributing to 31.8% of the
overall market value in 2017. The transaction monitoring software is likely to
gain prominence on account of its ability to monitor customer transactions in
real-time and on a daily basis. Based on the deployment model, the on-premise
segment dominated the market in 2017. The growth in the on-premise segment is
mainly attributed to the greater level of security offered by on-premise
solutions. In terms of end-use vertical, BFSI sector led the overall anti-money
laundering market. The BFSI sector is mainly prone to the money laundering
incidences. Thus, in order to combat fraud related activities, the BFSI sector
spends heavily on the anti-money laundering solutions.
Competitive Insights:
Software developers are innovating and launching new anti-money
laundering solutions with advanced capabilities to cater the evolving needs of
customers. In September 2017, analytic software firm FICO announced that its
anti-money laundering solutions (TONBELLER Siron suite) achieved the Amazon Web
Services (AWS) Competency status. This status appreciates Company’s efforts for
offering innovative solutions on AWS to aid business organizations manage
critical issues such as risk management, navigating compliance
requirements, data management, and establishing governance models. In a bid to
sustain in this highly competitive and technology driven market, other players
are duly focusing on technology development and innovation. Major players
identified in the global anti-money laundering software market include
Accenture Plc., Fiserv, Inc., SAS Institute Inc., OpenText Corp., Experian
Information Solutions, Inc., Oracle Corporation, FICO TONBELLER, EastNets,
Ascent Technology Consulting, BAE Systems PLC, Trulioo, ACI Worldwide, Inc.,
NICE Actimize, NameScan, and Verafin, Inc.
Request Sample: http://www.credenceresearch.com/sample-request/59201
Browse Here For Full Report: http://www.credenceresearch.com/report/anti-money-laundering-software-market
About Us
Credence Research is a worldwide market research and
counseling firm that serves driving organizations, governments, non-legislative
associations, and not-for-benefits. We offer our customers some assistance with
making enduring enhancements to their execution and understand their most
imperative objectives. Over almost a century, we've manufactured a firm
extraordinarily prepared to this task.
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