The "Global Anti-money Laundering Market by Component, Deployment Type, Product, End-user and Region: Industry Analysis and Forecast 2020-2026" report has been added to ResearchAndMarkets.com's offering.
The Global Anti-money Laundering Market size is expected to reach $3.7 billion by 2026, rising at a market growth of 18.3% CAGR during the forecast period.
Anti-money laundering (AML) software is a solution, which allows banks and other financial institutions to monitor the behavior of the customer for alleged criminal financial activities with the help of automated processes.
Several types of AML solutions like transaction monitoring, customer identity management, currency transaction reporting, and compliance management have been reflected under the market of anti-money laundering software. The increasing volume of worldwide transactions has driven the deployment of AML solutions in financial institutions, and banks.
From the last few years, there is an increase in instances of money laundering that has become a big challenge for the sectors related to finance as well as financial institutions. Cybercriminals study organizations discover all the possibility that vulnerable to commit frauds and carry out ransomware attacks and they use to demand virtual currencies like Bitcoin, Ripple, and Ether.
Virtual currencies are not issued or preserved by a central organization of the country, so it has become a target of money for laundering activities. Therefore, the rising number of cultured cyber-attacks have elevated the concerns of significant losses in many industries.
One of the key end-users of anti-money laundering software are banks who are ready to fight financial crimes by using cost-effective ML-based software solutions. This is obvious since retail banking is anticipated for exponential growth in the anti-money laundering software market. There is a rising demand for software systems to prevent financial crimes. Better R&D has steered the improvements in robotic process automation (RPA) workflows and ML-based analytical solutions.
The outbreak of COVID-19 has brought a revolution in the growth of digital technologies. Most of the governments across the globe have put lockdown due to which every individual has now shifted to adopt digital platforms to fulfill daily requirements. Digital payments are the primary use case. The use of digital wallets has also increased.
All these factors are increasing the chances of illegal money transactions. FATF has cautioned banks and financial institutions about illegal money transactions. This is also resulting in the increased demand for AML solutions; consequently, this driver has a high influence on the growth of the market.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Business Unit Expansions
3.2.4 Mergers & Acquisitions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2016-2020)
3.3.2 Key Strategic Moves: (Partnerships, Collaborations, and Agreements: Aug, 2018 to Sept, 2020) Leading Players
Chapter 4. Global Anti-money Laundering Market by Component
4.1 Global Anti Money Laundering Software Market
4.2 Global Anti Money Laundering Services Market
Chapter 5. Global Anti-money Laundering Market by End-user
5.1 Global BFSI Anti-money Laundering Market
5.2 Global Healthcare Anti-money Laundering Market
5.3 Global Telecom & IT Anti Money Laundering Market
5.4 Global Government Anti Money Laundering Market
5.5 Global Other End-user Anti-money Laundering Market
Chapter 6. Global Anti-money Laundering Market by Deployment Type
6.1 Global On-premise Anti-money Laundering Market
6.2 Global Cloud Anti-money Laundering Market
Chapter 7. Global Anti-money Laundering Market by Product
7.1 Global Customer Identity Management Anti-money Laundering Market
7.2 Global Compliance Management Anti-money Laundering Market
7.3 Global Transaction Monitoring Anti-money Laundering Market
7.4 Global Currency Transaction Reporting Anti-money Laundering Market
Chapter 8. Global Anti-money Laundering Market by Region
Chapter 9. Company Profiles
9.1 Company Overview
9.2 Financial Analysis
9.3 Regional & Segmental Analysis
9.4 Research & Development Expenses
9.5 Recent Strategies and Developments
9.5.1 Partnerships, Collaborations, and Agreements
9.5.2 Product Launches and Product Expansions
9.6 SWOT analysis
For more information about this report visit https://www.researchandmarkets.com/r/4yjx2s
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