Anti-Money Laundering Software Market to Experience Significant Growth by 2030

March 2, 2023

The Global Anti-Money Laundering Software Market Research Report published by Emergen Research is furnished with the latest information about product specifications and portfolio, technological advancement, product type, and manufacturing. Major factors such as revenue, costs, and gross margin are taken into consideration while formulating this report. The report provides extensive data concerning the key market players along with their SWOT analysis, financial standing, technological and product development, and recent strategic business expansion plans.

The research report provides an in-depth evaluation of the Global Anti-Money Laundering Software Market and helps the market participants intensify their footprints in the industry. The report gives a detailed analysis concentrated on the critical market dynamics such as drivers, restraints, trends, and growth opportunities to assist businesses to prepare for any challenges they might encounter in the forecast period.

The global Anti-Money Laundering (AML) Software Market size reached USD 1.63 Billion in 2021 and is expected to register a revenue CAGR of 15.1% during the forecast period, according to latest analysis by Emergen Research. Increasing number of money laundering cases and rapid growth of Information Technology (IT) industry are projected to support market revenue growth between 2022 and 2030. In addition, increasing need to authenticate users' identity through Know Your Customer (KYC) technology will drive revenue growth.

Know your customer is the process of verifying a customer's identity. The objective of KYC is to prevent criminal elements from using bank accounts for Anti-money laundering purposes. Identity fraud is a serious issue in the banking sector. A better identity management method is required to alleviate this problem. KYC is the best solution to the identity fraud issue. It will reduce the risks by ensuring suspicious elements do not participate in legitimate financial institutions, which will prevent financial crimes such as money laundering and corruption. As a result, adoption of KYC technology will minimize money laundering risks. KYC technology reports any suspicious activity to the regulators.

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Key companies operating in the Anti-Money Laundering Software market include:

Oracle Corporation, BAE Systems PLC, Tata Consultancy Services Limited (Tata Sons Private Limited), Fiserv, Inc., Fidelity National Information Services, Inc., Experian PLC, SAS Institute, Inc., ACI Worldwide, Inc., CaseWare International, Inc., and AML Partners LLC.

However, lack of a strong compliance culture within some financial institutions is expected to hamper market revenue growth to some extent during the forecast period. A compliance culture is the set of standards and values that a financial institution maintains and incorporates into its employees' daily work. Lack of awareness among employees regarding problems related to AML programs and financial crime risks related to their institution's business model, products, and services, and management only focuses on compliance and AML to avoid being fined by regulators without really grasping the importance of AML programs. These factors are expected to hamper market revenue growth to a significant extent during the forecast period.

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Some Key Highlights from the Report

Software segment is expected to register a substantially rapid revenue CAGR during the forecast period due to increasing adoption of software in financial institutions to detect, track, and report any suspicious activity to regulators Among the deployment type segments, on-premise segment is expected to register a significantly robust revenue growth rate over the forecast period, owing to increasing need for security as on-premise deployment retains complete control over the data North America market is expected to account for considerably large revenue share due to robust presence of major market players providing AML solutions such as Oracle Corporation, Fiserv, Inc., Fidelity National Information Services, Inc., and SAS Institute, Inc., among others in countries in the region In January 2020, Fiserv, Inc. announced DolEx Dollar Express, Inc. and its affiliate, Europhil, will adopt Fiserv's technologies to enhance their anti-money laundering processes. DolEx will deploy cloud-based versions of AML Risk Manager and Payment Fraud Manager from Fiserv via Amazon Web Services (AWS). Moreover, adopting Fiserv's technology will strengthen DolEx AML process with additional efficiency, scalability, and flexibility. Request for Discount: https://www.emergenresearch.com/request-discount/620

Emergen Research has segmented global Anti-Money Laundering (AML) software market on the basis of component, deployment type, application, end-use, and region:

Component Outlook (Revenue, USD Billion; 2019–2030)

Software Services Deployment Type Outlook (Revenue, USD Billion; 2019–2030)

On-premise On-cloud Application Outlook (Revenue, USD Billion; 2019–2030)

Transaction Monitoring Currency Transaction Reporting Customer Identity Management Compliance Management Others End-use Outlook (Revenue, USD Billion; 2019–2030)

BFSI Defense Healthcare IT and Telecom Retail Others
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Regional Outlook (Revenue, USD Billion; 2019–2030)

North America U.S. Canada Mexico Europe Germany France U.K. Italy Spain Benelux Rest of Europe Asia Pacific China India Japan South Korea Rest of APAC Latin America Brazil Rest of LATAM Middle East & Africa Saudi Arabia UAE South Africa Turkey Rest of MEA Key Questions Addressed in the Report:

Who are the leading players in the Anti-Money Laundering Software industry? Which region is expected to dominate the market in the coming years? What are the key applications of Anti-Money Laundering Software? Which segment is expected to garner traction during the coming years? What are the key strategies adopted by leading players in the market? Explore More Emergen Research Reports @

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