Global Anti-money Laundering Software Market 2016-2020
Outlook of the global anti-money laundering software market
Technavio’s 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 -
- ACI Worldwide
- AML Partners
- AML RightSource
- Nice Actimize
- Reed Elsevier
- Safe Banking Systems
- Thomson Reuters
- Truth Technologies
Other prominent vendors in the market include Aquilan, Ascent Technology Consulting, Banker's 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?
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