Global Anti-money Laundering Software Market 2016-2020 - Market to Grow Steadily at a CAGR of Around 11% - Research and Markets

Apr 20, 2016, 15:07 ET from Research and Markets

DUBLIN, April 21, 2016 /PRNewswire/ --

Research and Markets has announced the addition of the "Global Anti-money Laundering Software Market 2016-2020" report to their offering.

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Market research analysts predict 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.

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

- ACI Worldwide
- AML360
- AML Partners
- AML RightSource
- EastNets
- Experian
- Fiserv
- Nice Actimize
- Oracle
- Reed Elsevier
- Safe Banking Systems
- SunGard
- Thomson Reuters
- Tonbeller
- Truth Technologies
- Verafin

Commenting on the report, an analyst from the research team said: The growing use of predictive analytics to reduce false results and decrease the compliance cost of AML software is a positive market trend. The growing demand for KYC analytics is also adding momentum to the market. The global AML software market shows immense potential for growth as vendors are introducing many products and solutions with variety of features such as enhanced due diligence, transaction monitoring, risk calculation, watch list etc. during the forecast period.

According to the report, governments of many countries are making regulatory compliance mandatory for enterprises to combat money laundering and other unlawful financing activities. Financial institutions, credit unions, and community banks are the most vulnerable to these activities. Governments are continuously monitoring the operations of these organizations through AML software.

Further, the report states that one of the major challenges in the market is the inconsistency in the data as enterprises collect it from different departments. Proper functioning of the AML software requires consistency in data.

Key Topics Covered:

PART 01: Executive summary
- Key findings

PART 02: Scope of the report
- Top-vendor offerings

PART 03: Market research methodology
- Research methodology
- Economic indicators

PART 04: Introduction
- Key market highlights

PART 05: Risks of non-compliance with AML regulations

PART 06: Market landscape
- Market overview
- 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
- Pure players
- Other prominent vendors

PART 16: Appendix

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