Latest released, the research study on Global Anti-Money Laundering Solutions Market Report Forecast 2021 – 2025, offers a detailed overview of the factors influencing the global business scope. Anti-Money Laundering Solutions Market research report shows the latest market insights, current situation analysis with upcoming trends and breakdown of the products and services. The report provides key statistics on the market status, size, share, growth factors of the Anti-Money Laundering Solutions. The study covers emerging player’s data, including competitive landscape, sales, revenue and global market share of top manufacturers are: SAS Institute, Inc., NICE Ltd., Experian Ltd., BAE Systems PLC., Fair Isaac Corporation, ACI Worldwide, Inc., Fiserv, Inc., Oracle Corporation, Tata Consultancy Services Limited, Refinitiv Ltd., Larsen & Toubro Infotech Limited, Profile Software S.A.
The Anti-Money Laundering Solutions Market is expected to register a CAGR of approximately 16% during the forecast period (2020 – 2025).
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Covid-19 Impact and Recovery Analysis:
The global Anti-Money Laundering Solutions market report also includes the impact of the Covid-19 pandemic. Moreover, it offers an exhaustive analysis of aspects that will encounter the development of the market pre & post Covid-19 pandemic.
Industry News and Updates:
– June 2020 – Banco Santander signed an agreement with ThetaRay, under which Banco Santander will deploy ThetaRays anti-money laundering (AML) solution. The solution is expected to analyze SWIFT traffic, risk indicators, and Know Your Customer (KYC) data of the bank to detect transactions involved in money laundering activities.
– November 2019 – Singapore-based AML solution start-up, TookiTaki, generated a USD 11.7 million funding. The funding is expected to aid the company in developing machine learning financial compliance and anti-money laundering software for the banking sector.
The primary factor driving the growth of the market is increasing instances of money laundering cases across the globe. According to the United Nations Office on Drugs and Crime (UNODC) forecast, the amount of money that has been laundered globally amounts to approximately 2- 5% of the global GDP.
– In November 2019, Australia’s second-largest retail bank, Westpac, reported approximately 23 million breaches of Australias anti-money laundering/countering terrorist financing laws and regulations, which involved approximately USD 12 billion in transactions. Such instances are expected to boost the adoption of AML solutions to increase the regulations related to such transactions.
Key Market Trends
Transaction Monitoring Solution is Expected to Grow Significantly
– Transaction Monitoring is expected to be an important solution in AML solutions, which involves identifying suspicious transactions involving money laundering, and analysis and due diligence of a customer’s transactions. KYT (Know Your Transactions) is a solution used to identify potentially risky transactions, with the aim of identifying risky transactions to detect transactions involving money laundering and other financial fraud.
– Also, technologies like Automation, Artificial Intelligence, Machine Learning, Cloud Computing, and many others are significantly driving the adoption of such solutions. Hence, several AML companies are leveraging these technologies to expand their market presence. In August 2019, Telindus planned to introduce a KYT solution, which is expected to leverage the power of AI, and the solution aims at responding to the AML and PSD2 regulations.
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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