Outlook of the global anti-money laundering software market
Technavios market research analyst predicts the global anti-money laundering (AML) software market to grow steadily at a CAGR of around 11% during the forecast period. AML software allows financial institutions and other enterprises to detect suspicious transactions and analyze customer data. Its ability to provide real-time alerts and tools to report suspicious events to maximize security and operational efficiency will foster its adoption during the forecast period.
An important growth driver for this market is the increasing regulatory compliance requirements, which compels financial institutions to adopt AML software. The growing utilization of predictive analytics to reduce false results and to decrease the compliance cost of AML software is a trend that will impel market growth until the end of 2020.
Geographical segmentation of the AML software market
In this market research, analysts have estimated the Americas to be the largest market for AML software during the forecast period. Though the Americas account for the largest market share, the APAC region is envisaged to witness the fastest growth during the predicted period. Factors such as the rising adoption of stringent AML regulations, increasing regulatory compliance, and the growing adoption of these solutions in emerging economies like Australia, China, and India will propel the prospects for market growth in APAC during the estimated period.
Competitive landscape and key vendors
The global AML software market is dominated by numerous large- and medium-sized vendors. The big companies and technology providers in this market are following strategies like M&A to increase their consumer base and to improve their global presence.
The leading vendors in the market are -
Safe Banking Systems
Other prominent vendors in the market include Aquilan, Ascent Technology Consulting, Bankers Toolbox, Cellent Finance Solutions, CGI group, IBM, KPMG, Jack Henry, TCS, and Temenos.
Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the global AML software market?
What are the key market trends impacting the growth of the AML software market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the vendors in the global AML software market?
Trending factors influencing the market shares of the Americas, EMEA, and APAC.
What are the key outcomes of the five forces model of the AML software market?
Technavio also offers customization on reports based on specific client requirement.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
Key market highlights
PART 05: Risks of non-compliance with AML regulations
PART 06: Market landscape
Market size and forecast
PART 07: Market segmentation by deployment model
Global AML software market by deployment model
PART 08: Geographical segmentation
Global AML software market by geographical segmentation 2015
Global AML software market by geographical segmentation 2015-2020
AML software market in the Americas
AML software market in EMEA
AML software market in APAC
PART 09: Market drivers
Need for regulatory compliance
Increasing demand for automated transaction monitoring systems
Technological advances in financial institutions
Rising demand from emerging countries
PART 10: Impact of drivers
PART 11: Market challenges
High cost of implementation
Lack of internal cross-functional collaboration
Issues pertaining to data security
Complexity of data interpretation
PART 12: Impact of drivers and challenges
PART 13: Market trends
Increasing use of predictive analytics
Increasing demand for know your customer (KYC) analytics
Cloud-based AML solutions
Integration of AML and anti-fraud solutions
Increasing adoption of AML software by medium-sized enterprises
PART 14: Five forces model
PART 15: Key vendor analysis
Vendor competition overview
BFSI vendor analysis
Technology provider analysis
Other prominent vendors
PART 16: Appendix
List of abbreviations
PART 17: Explore Technavio
List of Exhibits
Exhibit 01: AML software market segmentation by geography
Exhibit 02: AML software by deployment model
Exhibit 03: Global AML software market 2015-2020 ($ billions)
Exhibit 04: Global AML software market by deployment model 2015-2020
Exhibit 05: Global AML software market by geographical segmentation 2015
Exhibit 06: Global AML software market by geographical segmentation 2015-2020
Exhibit 07: Global AML software market by geographical segmentation 2015-2020 ($ millions)
Exhibit 08: AML software market in Americas 2015-2020 ($ millions)
Exhibit 09: AML software market in EMEA 2015-2020 ($ millions)
Exhibit 10: AML software market in APAC 2015-2020 ($ millions)
Exhibit 11: Impact of drivers
Exhibit 12: Impact of drivers and challenges
Exhibit 13: Five forces model
Exhibit 14: Comparative petal chart for BFSI vendors
Exhibit 15: Comparative petal chart for technology provider vendors