DUBLIN, May 1, 2019 /PRNewswire/ — The “Global Anti Money Laundering (AML) Software Market: Focus on Software Type (Transaction Monitoring Software, Currency Transaction Reporting, Customer Identity Management) and Delivery Model Type – Analysis and Forecast, 2018-2023” report has been added to ResearchAndMarkets.com’s offering.

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The global anti-money laundering (AML) software market is expected to reach $1.77 billion by 2023.


Over the past five years, the financial service industry has witnessed far-reaching technology-led transformations, with companies looking for improving the efficiency of their financial departments by incorporating innovative IT solutions. In addition, customers have also set their expectations in terms of identity theft and are demanding added worth for their money, along with a seamless experience and better services. The banking software industry has witnessed significant developments in the past decade, in terms of understanding, exploring, researching, managing, and utilizing resources to create value.

A similar trend is expected to prevail in the next decade and banking software industry is expected to evolve in terms of facilitating global, multi-service, low-cost, and digital banking. However, with the growth in the banking software industry, there is an increasing demand for regulators to counter the upsurge in the financing of terrorism and money laundering incidences.

Technological advancements in financial services have resulted in an increase in the number of wired transactions, worldwide. However, these smooth and prompt transactions have exposed the financial institutes to the risk of money laundering, thus increasing the concern for the same. According to United Nations Office on Drugs and Crime (UNODC), money worth approximately 2-5% of global GDP is laundered in a particular year, which ranges from $800 billion to $2 trillion in U.S. dollars. Governments of various nations are forming their regulatory bodies, in order to address money laundering.

This has led to an increase in the market penetration of counter terrorism financing (CFT) and anti-money laundering (AML) regulations in the financial services industry, driving organizations to reinvent their compliance processes in order to act in accordance with the regulations and circumvent the possibility of fines and sanctions. Regulatory bodies, such as The Financial Action Task Force (FATF), Asia/Pacific Group (APG), and The Anti-Money laundering Association (AMLA), have been pivotal in shaping the future of the AML industry.

The growth in the AML software market can be significantly attributed to factors such as monitoring suspicious transactions, regulatory compliance requirements of financial institutions with international regulatory bodies along with increased volume of wired transactions.

On-premise deployment type contributed the largest share to the AML software market in 2017, owing to a higher level of consumer data security provided as compared to cloud deployment. However, cloud deployment is expected to witness higher growth rate during the forecast period. This delivery model requires monthly or yearly subscriptions, which are cheaper as compared to on-premise deployment software.

The widespread adoption of cloud-based delivery models is expected to be witnessed in the future, due to the lower entry cost than that of on-premise deployment models. A cloud-based deployment model involves the combination of cloud computing with wireless sensor networking, and mobile computing to automatically provide the users with the required data.

Transaction monitoring software had the highest market penetration rate in the overall AML software market in 2017, followed by currency transaction reporting, customer identity management, compliance management software, and others. Transaction monitoring software accounted for the highest market share in the AML software market for 2017, owing to generate a full-fledged analysis of a customer, thereby facilitating prediction of risk levels and future money laundering activities, along with providing reports and creating alerts for suspicious activities.

The North America region dominated the AML software market in 2017 and is expected to continue to dominate the market, owing to stricter customer identification regulations and compliance for the financial institutions in order to reduce money laundering activities. The Asia-Pacific region is expected to foster the highest growth rate in the market during the period, 2018-2023.

Factors such as increasing regulatory compliance, adoption of stringent AML regulations, and adoption of the software in various institutions are the major reasons for the constant growth of the AML software market in the region.

Key questions answered in the report:

  • What are the major market drivers, challenges, and opportunities in the global AML software market?
  • What is the supply chain for the global AML software market?
  • What is the market value of AML software market for different software?
  • What is the market value of AML software market for different deployment type on the basis of on-premise and cloud?
  • What is the market value of AML software market on the basis of different geographical regions?
  • Which region is expected to dominate the AML software market?
  • What is expected to be the growth rate of different segments of the AML software market during the forecast period?
  • Who are the key players for the AML Software market?
  • What are the key developmental strategies implemented by the key players to stand out in this market?
  • What is the market share of the leading players in the global AML software market for 2017?

Key Topics Covered:

Executive Summary

1 Market Dynamics
1.1 Market Drivers
1.1.1 Increasing Volume of Wired Transactions
1.1.2 Increased Need for Automated Transaction Monitoring Systems
1.1.3 Compliance Requirement with International Regulatory Bodies
1.2 Restraints
1.2.1 High Implementation Cost of AML Software
1.2.2 Complexity of Integration of AML Software into Existing Systems
1.2.3 Risk of Security Breaches
1.3 Market Opportunities
1.3.1 Adoption of Analytics and Machine Learning in AML
1.3.2 Anti-Money Laundering Software in Crypto Currency Market
1.3.3 Emerging Economies Adopting AML Solutions
1.3.4 Robotic Process Automation in AML and KYC

2 Competitive Landscape
2.1 Key Strategies and Partnerships
2.1.1 Partnerships, Joint Ventures, and Collaborations
2.1.2 Product Launches
2.1.3 Business Expansions
2.1.4 Mergers and Acquisitions
2.1.5 Other Key Developments
2.2 Market Share Analysis

3 Industry Analysis
3.1 Patent Analysis
3.2 Consortium, Associations and Regulatory Bodies
3.3 Supply Chain Analysis
3.4 Consumer Outlook
3.4.1 Pain Points
3.4.2 Future Outlook
3.5 Opportunity Matrix Analysis
3.5.1 Opportunity Matrix Analysis (by Region)
3.6 Country Share Analysis

4 Global Anti-Money Laundering Software Market, by Delivery Model
4.1 Assumptions and Limitations
4.2 Market Overview
4.3 On-Premise Delivery Model
4.4 Cloud-Based Delivery Model

5 Global Anti-Money Laundering Software Market by Software Type
5.1 Market Overview
5.2 Transaction Monitoring Software
5.3 Currency Transaction Reporting Software
5.4 Customer Identity Management Software (CIM)
5.5 Compliance Management Software
5.6 Sanction Screening Software and Case Management Software

6 Global Anti-Money Laundering Software Market by Geography
6.1 Market Overview
6.2 North America
6.3 Europe
6.4 Asia-Pacific
6.5 Rest-of-the-World

7 Company Profiles
7.1 Overview
7.2 Accuity Inc.
7.2.1 Company Overview
7.2.2 Role of Accuity Inc. in Anti-Money Laundering Software Market
7.2.3 Market Impact Analysis
7.2.4 SWOT Analysis
7.3 ACI Worldwide, Inc.
7.4 AML Partners
7.5 BAE Systems
7.6 Experian PLC
7.7 FICO
7.8 Fiserv, Inc.
7.9 Global Radar
7.10 Infrasoft Technologies Ltd.
7.11 Lexis Nexis
7.12 NICE Acitmize
7.13 Oracle Corporation
7.14 SAS Institute Inc.
7.15 Targens GmbH
7.16 Temenos

8 Research Scope and Methodology
8.1 Scope of the Report
8.2 AML Software Market Research Methodology

For more information about this report visit https://www.researchandmarkets.com/r/jywy7w

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