Anti-Money Laundering Software Market Report 2024 – Anti-Money Laundering Software Market Size And Trends | Accenture Inc., ACI Worldwide Inc., AML Partners LLC

The anti-money laundering software market size is expected to see rapid growth in the next few years. It will grow to <b>$5.03 billion in 2028 at a compound annual growth rate (CAGR) of 14.7%.  The growth in the forecast period can be attributed to focus on customer due diligence, sanctions screening enhancement, growth of cryptocurrencies, mobile payment risks, real-time transaction monitoring. Major trends in the forecast period include increasing regulatory stringency, integration of artificial intelligence and machine learning, focus on transaction monitoring and surveillance, automation of due diligence processes, cloud-based aml solutions, enhanced risk-based approaches.

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Scope Of Anti-Money Laundering Software Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Anti-Money Laundering Software Market Overview

Market Drivers –
The increasing number of money laundering cases is expected to propel the anti-money laundering software market. Money laundering is the process of converting illegally obtained funds into legal funds. Due to the increasing number of money laundering cases, there is a rise in the adoption of anti-money laundering software applications to ensure the legal requirements of organizations for detecting and preventing financial crimes. For instance, in March 2021, according to a report from TransUnion, a US-based consumer credit reporting agency, fraudulent digital transaction attempts against businesses worldwide increased by 46% compared to 2019. Furthermore, TransUnion reported a 21% increase in phishing attacks among consumers globally targeted with COVID-19-related digital frauds as of November 2020. Therefore, the increasing number of fraudulent activities and rise in money laundering cases will drive the growth of the anti-money laundering software market.

Market Trends –
Major companies operating in the anti-money laundering software market are developing new Ai-based solutions to sustain their position. For example, in June 2023, Google LLC, a US-based technology company launched Anti Money Laundering AI (AML AI), an artificial intelligence-powered product aimed at helping global financial institutions efficiently detect money laundering. The product employs machine learning to generate a customer risk score based on transactional patterns, network behavior, and Know Your Customer (KYC) data. This approach offers an alternative to rules-based transaction alerting, reducing false positives and improving overall program effectiveness and operational efficiency.

The anti-money laundering software market covered in this report is segmented –
1) By Component: Software, Services
2) By Deployment: On-Premise, On-cloud
3) By Application: Transaction Monitoring, Currency Transaction Reporting, Customer Identity Management, Compliance Management, Other Applications
4) By End-Use: BFSI, Defense, Healthcare, IT and Telecom, Retail, Other End-users

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Regional Insights –
North America was the largest region in the anti-money laundering software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the anti-money laundering software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies –
Major companies operating in the anti-money laundering software market report are Accenture Inc., ACI Worldwide Inc., AML Partners LLC, Ascent Business Technology Inc., BAE Systems Inc., Eastnets Holding Limited, Verafin Inc., Fidelity National Information Services Inc., Fiserv Inc., Oracle Corporation, SAS Institute Inc., Sungard Availability Services, Experian Information Solutions Inc., Fico, NICE Systems Ltd., Accuity Inc., SmartSearch, SynerScope B.V., Truth Technologies Inc., Exiger LLC, Global RADAR, The International Business Machines Corporation, GB Group plc, MSA Focus Inc., KPMG International Limited, RELX plc, Temenos AG, Quantexa, London Stock Exchange Group plc, KYC Global Technologies Limited

Table of Contents
1. Executive Summary
2. Anti-Money Laundering Software Market Report Structure
3. Anti-Money Laundering Software Market Trends And Strategies
4. Anti-Money Laundering Software Market – Macro Economic Scenario
5. Anti-Money Laundering Software Market Size And Growth
…..
27. Anti-Money Laundering Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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