However, the cloud-based segment is expected to witness the highest growth rate, due to rise in adoption of cloud-based solutions in small- & medium-sized financial organizations to combat money laundering.Įurope governed the overall market in 2017, owing to high adoption of AML solutions and enforcement of stringent government regulations to deploy AML solutions in financial institutions across the region. The on-premise-based AML solutions segment dominated the market in 2017, due to enhanced security offered by these systems. The customer identity management segment led the overall market in 2017 and is expected to maintain its dominance in the near future, owing to rise in cases of identity theft-based money laundering cases. On the contrary, emerging artificial intelligence technology in AML solutions and increased adoption of cloud-based solutions are expected to provide lucrative opportunities for AML software market expansion during the forecast period. However, dearth in number of AML professionals is anticipated to hamper the anti-money laundering software market growth. The major factors that drive the growth of the anti-money laundering software market include increased AML regulatory requirements, rise in money laundering cases, and growth in IT spending. The global anti-money laundering (AML) software market size was valued at $879.0 million in 2017, and is projected to reach $2,717.0 million by 2025, registering a CAGR of 15.2% from 2018 to 2025. Increase in the volume of global transactions has fueled the deployment of AML solutions in banks and other financial institutions. Different types of AML solutions such as transaction monitoring, currency transaction reporting, customer identity management, and compliance management have been considered under anti-money laundering software market. Anti-Money Laundering Software Market Outlook: 2025Īnti-money laundering (AML) software refers to a solution, which enables banks and other financial institutions to monitor customer behavior for suspected criminal financial activities through automated processes.
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