Anti-Money Laundering Software Market to 2027 - Global Analysis and Forecasts 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)
TABLE OF CONTENTS
1. INTRODUCTION
- 1.1 SCOPE OF THE STUDY
- 1.2 THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
- 1.3 MARKET SEGMENTATION
- 1.3.1 Global Anti-Money Laundering Software Market - By Deployment Type
- 1.3.2 Global Anti-Money Laundering Software Market - By Component
- 1.3.3 Global Anti-Money Laundering Software Market - By Product
- 1.3.4 Global Anti-Money Laundering Software Market - By Industry Vertical
- 1.3.5 Global Anti-Money Laundering Software Market - By Geography
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
- 3.1.1 Coverage
- 3.1.2 Secondary Research
- 3.1.3 Primary Research
4. ANTI-MONEY LAUNDERING SOFTWARE MARKET LANDSCAPE
- 4.1 MARKET OVERVIEW
- 4.2 ECOSYSTEM ANALYSIS
- 4.3 PEST ANALYSIS
- 4.3.1 North America PEST Analysis
- 4.3.2 Europe PEST Analysis
- 4.3.3 Asia Pacific PEST Analysis
- 4.3.4 MEA PEST Analysis
- 4.3.5 SAM PEST Analysis
5. ANTI-MONEY LAUNDERING SOFTWARE MARKET - KEY INDUSTRY DYNAMICS
- 5.1 KEY MARKET DRIVERS
- 5.1.1 Rising adoption of analytics is expected to drive the demand for AML software
- 5.1.2 Fin-techs are expected to drive the demand for automated anti-money
laundering systems
- 5.1.3 Increasing demand for sophisticated transaction monitoring solution
- 5.2.1 Increasingly complicating structure and technology
- 5.3.1 Rising adoption of crypto currency would lead to new regulation compliances
- 5.4.1 Information sharing among the banks and other financial institutions
6. ANTI-MONEY LAUNDERING - GLOBAL MARKET ANALYSIS
- 6.1 GLOBAL ANTI-MONEY LAUNDERING SOFTWARE MARKET OVERVIEW
- 6.2 GLOBAL ANTI-MONEY LAUNDERING SOFTWARE MARKET FORECAST AND ANALYSIS
- 6.3 MARKET POSITIONING/ MARKET SHARE
7. GLOBAL ANTI-MONEY LAUNDERING SOFTWARE MARKET ANALYSIS -
BY DEPLOYMENT TYPE
- 7.1 OVERVIEW
- 7.2 GLOBAL ANTI-MONEY LAUNDERING SOFTWARE MARKET BREAKDOWN,
BY DEPLOYMENT TYPE, 2018 & 2027
- 7.3 ON-PREMISE
- 7.3.1 Overview
- 7.3.2 Global On-Premise Revenue and Forecasts to 2027 (US$ Mn)
- 7.4 CLOUD
- 7.4.1 Overview
- 7.4.2 Global Cloud Market Revenue and Forecasts to 2027 (US$ Mn)
8. GLOBAL ANTI-MONEY LAUNDERING SOFTWARE MARKET ANALYSIS -
BY COMPONENT
- 8.1 OVERVIEW
- 8.2 GLOBAL ANTI-MONEY LAUNDERING SOFTWARE MARKET BREAKDOWN,
BY COMPONENT, 2018 & 2027
- 8.3 SOFTWARE
- 8.3.1 Overview
- 8.3.2 Global Software Market Revenue and Forecasts to 2027 (US$ Mn)
- 8.4 SERVICES
- 8.4.1 Overview
- 8.4.2 Global Services Market Revenue and Forecasts to 2027 (US$ Mn)
9. GLOBAL ANTI-MONEY LAUNDERING SOFTWARE MARKET ANALYSIS -
BY PRODUCT
- 9.1 OVERVIEW
- 9.2 GLOBAL ANTI-MONEY LAUNDERING SOFTWARE MARKET BREAKDOWN,
BY PRODUCT, 2018 & 2027
- 9.3 TRANSACTION MONITORING
- 9.3.1 Overview
- 9.3.2 Global Transaction Monitoring Revenue and Forecasts to 2027 (US$ Mn)
- 9.4 COMPLIANCE MANAGEMENT
- 9.4.1 Overview
- 9.4.2 Global Compliance Management Market Revenue and Forecasts to 2027 (US$ Mn)
- 9.5 CURRENCY TRANSACTION REPORTING
- 9.5.1 Overview
- 9.5.2 Currency transaction reporting Market Revenue and Forecasts to 2027 (US$ Bn)
- 9.6 CUSTOMER IDENTITY MANAGEMENT
- 9.6.1 Overview
- 9.6.2 Customer identity management Market Revenue and Forecasts to 2027 (US$ Mn)
10. ANTI-MONEY LAUNDERING SOFTWARE MARKET REVENUE AND FORECASTS TO 2027 -INDUSTRY VERTICAL
- 10.1 OVERVIEW
- 10.2 ANTI-MONEY LAUNDERING SOFTWARE MARKET BREAKDOWN, BY INDUSTRY VERTICAL, 2018 & 2027
- 10.3 HEALTHCARE MARKET
- 10.3.1 Overview
- 10.3.2 Healthcare Market Revenue and Forecasts to 2027 (US$ Mn)
- 10.4 BFSI
- 10.4.1 Overview
- 10.4.2 BFSI Market Revenue and Forecasts to 2027 (US$ Mn)
- 10.5 RETAIL MARKET
- 10.5.1 Overview
- 10.5.2 Retail Market Revenue and Forecasts to 2027 (US$ Mn)
- 10.6 IT & TELECOM MARKET
- 10.6.1 Overview
- 10.6.2 IT & Telecom Market Revenue and Forecasts to 2027 (US$ Bn)
- 10.7 GOVERNMENT MARKET
- 10.7.1 Overview
- 10.7.2 Government Market Revenue and Forecasts to 2027 (US$ Mn)
- 10.8 OTHERS MARKET
- 10.8.1 Overview
- 10.8.2 Others Market Revenue and Forecasts to 2027 (US$ Mn)
11. ANTI-MONEY LAUNDERING SOFTWARE MARKET - GEOGRAPHICAL ANALYSIS
- 11.1 OVERVIEW
- 11.2 NORTH AMERICA ANTI-MONEY LAUNDERING SOFTWARE MARKET REVENUE AND
FORECASTS TO 2027
- 11.2.1 North America Anti-Money Laundering Software Market Revenue and Forecasts to
2027 (US$ Mn)
- 11.2.2 North America Anti-Money Laundering Software Market Breakdown by
Deployment Type
- 11.2.3 North America Anti-Money Laundering Software Market Breakdown by Component
- 11.2.4 North America Anti-Money Laundering Software Market Breakdown by Product
- 11.2.5 North America Anti-Money Laundering Software Market Breakdown
by Industry Vertical
- 11.2.6 North America Anti-Money Laundering Software Market Breakdown,
by Key Countries
- 11.2.6.1 U.S. Anti-Money Laundering Software Market Revenue and Forecasts to 2027 (US$ MN)
- 11.2.6.1.1 U.S Anti-Money Laundering Software Market Breakdown
by Deployment Type
- 11.2.6.1.2 U.S. Anti-Money Laundering Software Market Breakdown
by Component
- 11.2.6.1.3 U.S. Anti-Money Laundering Software Market Breakdown
by Product
- 11.2.6.1.4 U.S. Anti-Money Laundering Software Market Breakdown
by Industry Vertical
- 11.2.6.2 Canada Anti-Money Laundering Software Market Revenue and Forecasts
to 2027 (US$ MN)
- 11.2.7 Canada Anti-Money Laundering Software Market Breakdown by Deployment Type
- 11.2.8 Canada Anti-Money Laundering Software Market Breakdown by Component
- 11.2.9 Canada Anti-Money Laundering Software Market Breakdown by Product
- 11.2.10 Canada Anti-Money Laundering Software Market Breakdown by Industry vertical
- 11.2.10.1 Mexico Anti-Money Laundering Software Market Revenue and Forecasts
to 2027 (US$ Mn)
- 11.2.11 Mexico Anti-Money Laundering Software Market Breakdown by Deployment Type
- 11.2.12 Mexico Anti-Money Laundering Software Market Breakdown by Component
- 11.2.13 Mexico Anti-Money Laundering Software Market Breakdown by Product
- 11.2.14 Mexico Anti-Money Laundering Software Market Breakdown by Industry vertical
- 11.3.1 Overview
- 11.3.2 Europe Anti-Money Laundering Software Market Breakdown by Deployment Type
- 11.3.3 Europe Anti-Money Laundering Software Market Breakdown by Component
- 11.3.4 Europe Anti-Money Laundering Software Market Breakdown by Product
- 11.3.5 Europe Anti-Money Laundering Software Market Breakdown by Industry vertical
- 11.3.6 Europe Anti-Money Laundering Software Market Breakdown by Key Countries
- 11.3.6.1 France. Anti-Money Laundering Software Market Revenue and Forecasts
to 2027 (US$ Mn)
- 11.3.7 France Anti-Money Laundering Software Market Breakdown by Deployment Type
- 11.3.8 France Anti-Money Laundering Software Market Breakdown by Component
- 11.3.9 France Anti-Money Laundering Software Market Breakdown by Product
- 11.3.10 France Anti-Money Laundering Software Market Breakdown by Industry vertical
- 11.3.10.1 Germany Anti-Money Laundering Software Market Revenue and Forecasts
to 2027 (US$ Mn)
- 11.3.11 Germany Anti-Money Laundering Software Market Breakdown by Deployment Type
- 11.3.12 Germany Anti-Money Laundering Software Market Breakdown by Component
- 11.3.13 Germany Anti-Money Laundering Software Market Breakdown by Product
- 11.3.14 Germany Anti-Money Laundering Software Market Breakdown by Industry vertical
- 11.3.14.1 Italy Anti-Money Laundering Software Market Revenue and Forecasts
to 2027 (US$ Mn)
- 11.3.15 Italy Anti-Money Laundering Software Market Breakdown by Deployment Type
- 11.3.16 Italy Anti-Money Laundering Software Market Breakdown by Component
- 11.3.17 Italy Anti-Money Laundering Software Market Breakdown by Product
- 11.3.18 Italy Anti-Money Laundering Software Market Breakdown by Industry vertical
- 11.3.18.1 Russia. Anti-Money Laundering Software Market Revenue and Forecasts
to 2027 (US$ Mn)
- 11.3.19 Russia Anti-Money Laundering Software Market Breakdown by Deployment Type
- 11.3.20 Russia Anti-Money Laundering Software Market Breakdown by Component
- 11.3.21 Russia Anti-Money Laundering Software Market Breakdown by Product
- 11.3.22 Russia Anti-Money Laundering Software Market Breakdown by Industry vertical
- 11.3.22.1 U.K Anti-Money Laundering Software Market Revenue and Forecasts
to 2027 (US$ Mn)
- 11.3.23 U.K Anti-Money Laundering Software Market Breakdown by Deployment Type
- 11.3.24 U.K Anti-Money Laundering Software Market Breakdown by Component
- 11.3.25 U.K Anti-Money Laundering Software Market Breakdown by Product
- 11.3.26 U.K Anti-Money Laundering Software Market Breakdown by Industry vertical
- 11.3.26.1 Rest of Europe Anti-Money Laundering Software Market Revenue and
Forecasts to 2027 (US$ Mn)
- 11.3.27 Rest of Europe Anti-Money Laundering Software Market Breakdown by
Deployment Type
- 11.3.28 Rest of Europe Anti-Money Laundering Software Market Breakdown by
Component
- 11.3.29 Rest of Europe Anti-Money Laundering Software Market Breakdown by Product
- 11.3.30 Rest of Europe Anti-Money Laundering Software Market Breakdown by Industry
vertical
- 11.4 APAC ANTI-MONEY LAUNDERING SOFTWARE MARKET REVENUE AND FORECASTS
TO 2027
- 11.4.1 APAC Anti-Money Laundering Software Market Revenue and Forecasts to 2027
(US$ Mn)
- 11.4.2 APAC Anti-Money Laundering Software Market Breakdown by Deployment Type
- 11.4.3 APAC Anti-Money Laundering Software Market Breakdown by Component
- 11.4.4 APAC Anti-Money Laundering Software Market Breakdown by Product
- 11.4.5 APAC Anti-Money Laundering Software Market Breakdown by Industry Vertical
- 11.4.6 APAC Anti-Money Laundering Software Market Breakdown, by Key Countries
- 11.4.6.1 South Korea Anti-Money Laundering Software Market Revenue and
Forecasts to 2027 (US$ MN)
- 11.4.6.1.1 South Korea Anti-Money Laundering Software Market
Breakdown by Deployment Type
- 11.4.6.1.2 South Korea Anti-Money Laundering Software Market
Breakdown by Component
- 11.4.6.1.3 South Korea Anti-Money Laundering Software Market
Breakdown by Product
- 11.4.6.1.4 South Korea Anti-Money Laundering Software Market
Breakdown by Industry Vertical
- 11.4.6.2 China Anti-Money Laundering Software Market Revenue and Forecasts to
2027 (US$ MN)
- 11.4.6.2.1 China Anti-Money Laundering Software Market Breakdown
by Deployment Type
- 11.4.6.2.2 China Anti-Money Laundering Software Market Breakdown
by Components
- 11.4.6.2.3 China Anti-Money Laundering Software Market Breakdown
by Products
- 11.4.6.2.4 China Anti-Money Laundering Software Market Breakdown by
Industry Vertical
- 11.4.6.3 India Anti-Money Laundering Software Market Revenue and Forecasts to
2027 (US$ Mn)
- 11.4.6.3.1 India Anti-Money Laundering Software Market Breakdown
by Deployment Type
- 11.4.6.3.2 India Anti-Money Laundering Software Market Breakdown
by Components
- 11.4.6.3.3 India Anti-Money Laundering Software Market Breakdown by
Products
- 11.4.6.3.4 India Anti-Money Laundering Software Market Breakdown by
Industry Vertical
- 11.4.6.4 Japan Anti-Money Laundering Software Market Revenue and Forecasts to
2027 (US$ Mn)
- 11.4.6.4.1 Japan Anti-Money Laundering Software Market Breakdown
by Deployment Type
- 11.4.6.4.2 Japan Anti-Money Laundering Software Market Breakdown
by Components
- 11.4.6.4.3 Japan Anti-Money Laundering Software Market Breakdown
by Products
- 11.4.6.4.4 Japan Anti-Money Laundering Software Market Breakdown
by Industry Vertical
- 11.4.6.5 Australia Anti-Money Laundering Software Market Revenue and Forecasts
to 2027 (US$ Mn)
- 11.4.6.5.1 Australia Anti-Money Laundering Software Market Breakdown
by Deployment Type
- 11.4.6.5.2 Australia Anti-Money Laundering Software Market Breakdown
by Components
- 11.4.6.5.3 Australia Anti-Money Laundering Software Market Breakdown
by Products
- 11.4.6.5.4 Australia Anti-Money Laundering Software Market Breakdown
by Industry Vertical
- 11.4.6.6 Rest of APAC Anti-Money Laundering Software Market Revenue and
Forecasts to 2027 (US$ Mn)
- 11.4.6.6.1 Rest of APAC Anti-Money Laundering Software Market
Breakdown by Deployment Type
- 11.4.6.6.2 Rest of APAC Anti-Money Laundering Software Market
Breakdown by Components
- 11.4.6.6.3 Rest of APAC Anti-Money Laundering Software Market
Breakdown by Products
- 11.4.6.6.4 Rest of APAC Anti-Money Laundering Software Market
Breakdown by Industry Vertical
- 11.5 MIDDLE EAST & AFRICA ANTI-MONEY LAUNDERING MARKET
- 11.5.1 Overview
- 11.5.2 Middle East & Africa Anti-Money Laundering Software Market Breakdown by
Deployment Type
- 11.5.3 Middle East & Africa Anti-Money Laundering Software Market Breakdown by
Component
- 11.5.4 Middle East & Africa Anti-Money Laundering Software Market Breakdown by
Product
- 11.5.5 Middle East & Africa Anti-Money Laundering Software Market Breakdown by
Industry vertical
- 11.5.6 Middle East & Africa Anti-Money Laundering Software Market Breakdown by
Key Countries
- 11.5.6.1 South Africa. Anti-Money Laundering Software Market Revenue and
Forecasts to 2027 (US$ Mn)
- 11.5.7 South Africa Anti-Money Laundering Software Market Breakdown by Deployment Type
- 11.5.8 South Africa Anti-Money Laundering Software Market Breakdown by Component
- 11.5.9 South Africa Anti-Money Laundering Software Market Breakdown by Product
- 11.5.10 South Africa Anti-Money Laundering Software Market Breakdown by Industry vertical
- 11.5.10.1 UAE Anti-Money Laundering Software Market Revenue and Forecasts
to 2027 (US$ Mn)
- 11.5.11 UAE Anti-Money Laundering Software Market Breakdown by Deployment Type
- 11.5.12 UAE Anti-Money Laundering Software Market Breakdown by Component
- 11.5.13 UAE Anti-Money Laundering Software Market Breakdown by Product
- 11.5.14 UAE Anti-Money Laundering Software Market Breakdown by Industry vertical
- 11.5.14.1 Saudi Arabia Anti-Money Laundering Software Market Revenue and
Forecasts to 2027 (US$ Mn)
- 11.5.15 Saudi Arabia Anti-Money Laundering Software Market Breakdown by Deployment Type
- 11.5.16 Saudi Arabia Anti-Money Laundering Software Market Breakdown by Component
- 11.5.17 Saudi Arabia Anti-Money Laundering Software Market Breakdown by Product
- 11.5.18 Saudi Arabia Anti-Money Laundering Software Market Breakdown by Industry vertical
- 11.5.18.1 Rest of MEA. Anti-Money Laundering Software Market Revenue and
Forecasts to 2027 (US$ Mn)
- 11.5.19 Rest of MEA Anti-Money Laundering Software Market Breakdown by Deployment Type
- 11.5.20 Rest of MEA Anti-Money Laundering Software Market Breakdown by Component
- 11.5.21 Rest of MEA Anti-Money Laundering Software Market Breakdown by Product
- 11.5.22 Rest of MEA Anti-Money Laundering Software Market Breakdown by Industry vertical
- 11.6.1 Overview
- 11.6.2 South America Anti-Money Laundering Software Market Breakdown by
Deployment Type
- 11.6.3 South America Anti-Money Laundering Software Market Breakdown by Component
- 11.6.4 South America Anti-Money Laundering Software Market Breakdown by Product
- 11.6.5 South America Anti-Money Laundering Software Market Breakdown by
Industry vertical
- 11.6.6 South America Anti-Money Laundering Software Market Breakdown by
Key Countries
- 11.6.6.1 Brazil Anti-Money Laundering Software Market Revenue and Forecasts
to 2027 (US$ Mn)
- 11.6.7 Brazil Anti-Money Laundering Software Market Breakdown by Deployment Type
- 11.6.8 Brazil Anti-Money Laundering Software Market Breakdown by Component
- 11.6.9 Brazil Anti-Money Laundering Software Market Breakdown by Product
- 11.6.10 Brazil Anti-Money Laundering Software Market Breakdown by Industry vertical
- 11.6.10.1 Argentina Anti-Money Laundering Software Market Revenue and
Forecasts to 2027 (US$ Mn)
- 11.6.11 Argentina Anti-Money Laundering Software Market Breakdown by Deployment Type
- 11.6.12 Argentina Anti-Money Laundering Software Market Breakdown by Component
- 11.6.13 Argentina Anti-Money Laundering Software Market Breakdown by Product
- 11.6.14 Argentina Anti-Money Laundering Software Market Breakdown by Industry vertical
- 11.6.14.1 Rest of SAM Anti-Money Laundering Software Market Revenue and
Forecasts to 2027 (US$ Mn)
- 11.6.15 Rest of SAM Anti-Money Laundering Software Market Breakdown by Deployment Type
- 11.6.16 Rest of SAM Anti-Money Laundering Software Market Breakdown by Component
- 11.6.17 Rest of SAM Anti-Money Laundering Software Market Breakdown by Product
- 11.6.18 Rest of SAM Anti-Money Laundering Software Market Breakdown by Industry vertical
12. INDUSTRY LANDSCAPE
- 12.1 OVERVIEW
- 12.2 MARKET INITIATIVE
- 12.3 NEW PRODUCT DEVELOPMENT
13. COMPANY PROFILES
- 13.1 ACCENTURE PLC
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
- 13.2 ACI WORLDWIDE, INC.
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
- 13.3 ASCENT TECHNOLOGY CONSULTING
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Solutions
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
- 13.4 BAE SYSTEMS PLC
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
- 13.5 EASTNETS HOLDING LTD.
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
- 13.6 OPEN TEXT CORPORATION
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
- 13.7 ORACLE CORPORATION
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
- 13.8 SAFE BANKING SYSTEMS LLC
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
- 13.9 SAS INSTITUTE INC.
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Solutions
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
- 13.10 VERAFIN INC.
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments
14. APPENDIX
- 14.1 ABOUT THE INSIGHT PARTNERS
- 14.2 GLOSSARY
The global anti-money laundering software market accounted for US$ 905.7 Mn in 2018 and is expected to grow at a CAGR of 21.1% over the forecast period 2019-2027, to account for US$ 4,993.2 Mn in 2027. The factors that are driving the growth of anti-money laundering software market include rising adoption of analytics, increasing developments in the Fintech sector, and rising government initiatives. Further, rising adoption of crypto-currency is expected to supplement the growth of anti-money laundering software market across the world. However, increasing complexities is anticipated to impede the growth of the anti-money laundering software market to a considerable extent. Some of the leading players in the anti-money laundering software market are highly focusing on strategic market initiatives in order to enrich its product capabilities as well as to expand their geographical presence across the globe, which in turn is contributing for the growth of the anti-money laundering software market.
The anti-money laundering software market has a presence of significant number of players. Geographically, the anti-money laundering software market is dominated by North America. North America comprises some of the significant associations that are responsible for the designing and implementation of the anti-money laundering regulations. For instance, the FTAF (Financial Action Task Force) is an intergovernmental organization in the region that creates international policies for battling money laundering. The U.S, Canada and Mexico are members of the FTAF. SAS Institute is a significant AML provider in the region. Further, The APAC region is anticipated to be the fastest growing region in anti-money laundering software market during the forecast period. The Asian governments and regulators have strongly focused towards the adoption of standards set by the intergovernmental Financial Action Task Force (FATF) to reinforce anti-money laundering.
The global anti-money laundering software market on the basis of product is categorized into transaction monitoring, compliance management, currency transaction reporting, and customer identity management. The transaction monitoring system segment focuses on identification of apprehensive arrangements of transactions, which might consequence into filing of STRs (Suspicious Transaction Reports) and SARs (Suspicious Activity Reports). Whereas, the CTR (Currency Transaction Reporting) systems deal with larger cash transaction reporting requirements, for instance in U.S its $10,000 and above. The compliance management software segment included in the study enables the firms to stay abide the Anti-Money Laundering regulatory by retaining essential evidence of compliance, and delivering and recording suitable training of staff. The customer identity management system is dedicated to verification of several negative lists (for instance OFAC) and the system also represents a preliminary and ongoing fragment of KYC (Know Your Customer) requirements. Moreover, it is observed that, transaction monitoring led the anti-money laundering software market in 2018 with a maximum market share and is expected to continue its dominance during the forecast period.
The overall anti-money laundering software market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the anti-money laundering software market. It also provides the overview and forecast for the global anti-money laundering software market based on all the segmentation provided with respect to five major reasons such as North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the anti-money laundering software market. Some of the players present in anti-money laundering software market are ACI Worldwide, SAS Institute, Oracle Corporation, BAE Systems, Accenture, Verafin Inc., Safe Banking Systems LLC, Eastnets Holding Ltd., Ascent Technology Consulting, and Opentext Corporation among others.