The global Anti-money Laundering Market size is projected to grow from USD 2.2 billion in 2020 to USD 4.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 15.6% during the forecast period. The major factors driving the market include non-compliance with stringent regulationd and guidelines, focus of financial institutes on digital payments issues, and need to get holistic view of data to curb financial crimes threatening financial landscape.
By component, Solutions segment to hold the largest market size during the forecast period
Although revenue loss is driving the growth of the AML solution market, the increasing rate of frauds is also significant. The AML solution can work simultaneously to provide fraud-proof enterprise environments. Various regulations around the world are making this solution a specific regulatory requirement, resulting in the increased adoption of AML solution to protect payment networks from money laundering and fraudulent attacks.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=95490454
In deployment mode, cloud deployment to grow at a higher CAGR during the forecast period
The cloud deployment mode involves the storage of applications and software on remote servers, providing access through the internet. It is growing at a faster pace in the AML solution market. SMEs have implemented cloud deployment, as it enables them to focus on their core competencies, rather than invest their limited capital in security infrastructure. Organizations can avoid costs related to hardware, software, storage, and technical staff by using the cloud-based AML solution. Cloud-based solutions offer SaaS-based AML solution and services to secure business applications. This benefits organizations with strict budgets for security investments. The cloud-based AML solution is easy to maintain and upgrade. All these factors drive the growth of the cloud deployment mode in the AML solution market.
ACI Worldwide (US), BAE Systems (UK), Nice Actimize (US), FICO (US), SAS Institute (US), Oracle Corporation (US), Experian (Ireland), LexisNexis Risk Solution (US), Fiserv (US), FIS (US), Dixtior (Portugal), TransUnion (US), Wolter’s Kluwer (The Netherlands), Temenos (Switzerland), Nelito Systems (India), TCS (India), Workfusion (US), Napier (UK), Quantaverse (US), Complyadvantage (UK), Acuant (US), FeatureSpace (UK), Feedzai (US), Finacus Solutions (India), CaseWare RCM (Canada), and Comarch SA (Poland).
These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions, to expand their presence in the AML solutions market. Partnerships, agreements and collaborations, and new product launches have been the most adopted strategies by the major players from 2018 to 2020 to innovate their offerings and broaden their customer base.
LexisNexis, founded in 1970, is one of the leading providers of fraud detection, identity verification, AML software, and authentication solutions. The company is part of RELX Group, a global provider of information and analytics for professional and business customers across industries. LexisNexis Risk Solutions provides customers with solutions and decision tools, which combine public- and industry speciﬁc content with advanced technologies, especially data and advanced analytics, to assist them in evaluating and predicting risks and enhancing operational efﬁciency. It enables organizations to manage risks, such as identity theft, fraud, money laundering, and terrorism and prevent ﬁnancial crimes, and insurance- and government-beneﬁt scams. It also works with law enforcement agencies to solve crimes. For AML, LexisNexis Risk Solutions offers AML Insight, World Compliance data and online search tool, compliance management, data management, and investigation solutions to help customers make confident business decisions and protect them from money laundering, fraud, and non-compliance. The company’s AML software solutions help enterprises accelerate customers’ on-boarding process, along with KYC requirements, through the verification of customers with increased security to prevent frauds and provide a better customer experience. LexisNexis has significant presence across the globe and offers its solutions in the Americas, APAC, Europe, and the Middle East. It caters to a wide range of verticals, including financial services, healthcare, and government
Request a Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=95490454
Nice Actimize, founded in 1999, NICE Actimize is the largest provider of financial crime, and risk and compliance solutions for regional and global financial institutions, as well as government regulators. More than 100 of the worlds top global financial institutions and regulatory bodies rely on NICE Actimize to increase their insights into real-time customer and employee behavior, transactions, and activities. As a result, these organizations have reduced and prevented financial crime activities, minimized money laundering exposure, increased investigator efficiency, and improved regulatory compliance and oversight. NICE Actimize helps financial institutions detect and prevent frauds, manage regulatory compliance, and quickly and accurately identify money laundering threats, protecting them from financial crime, regulatory, and reputational risks. Its solutions provide institutions a clear, holistic, and consolidated view of risks across the enterprise. They also provide an innovative, flexible technology that enables enterprises to efficiently resolve issues and keep up with rapidly changing regulatory landscape. The company offers real-time cross-channel fraud prevention, AML detection, and trading surveillance solutions. These solutions address concerns, such as payment fraud, cybercrime, sanction monitoring, market abuse, customer due diligence, and insider trading. NICE Actimize’s experts apply innovative technologies to protect institutions, and safeguard consumers and investor assets by identifying financial crimes, preventing frauds, and providing regulatory compliance. It has presence in more than 150 countries. It is regularly recognized for innovation and customer value. Its customer base comprises more than 25,000 customers, including more than 85 of Fortune 100.
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Address:630 Dundee Road Suite 430
State: IL 60062
Country: United States