According to a new market report published by Credence Research Inc., “Global Anti-money Laundering Software Market (By Functionality (Transaction Monitoring, Currency Transaction Reporting (CTR), Customer Identity Management and Compliance Management), By Deployment Model (Cloud and On-premise), By End-use Vertical (BFSI, Defense and Government, Healthcare, IT & Telecom, Retail, Transportation and Logistics, Others (Manufacturing, Energy and Utilities, etc.)))- Growth, Future Prospects and Competitive Landscape, 2018 – 2026”, the global anti-money laundering software market is expected to demonstrate a CAGR of 12.5% during the forecast period to reach US$ 4,173.9 Mn by 2026.
Over the past few years, the financial service industry has witnessed a far-reaching technology-led modifications, with companies looking for improving the efficiency of their financing departments by incorporating innovative IT solutions. In addition, customers have set their expectations and are demanding added worth for their money, along with seamless experience and better services. The banking software industry, in particular, is filled with a range of activities, which are utilizing resources to create value and benefit society, globally, in terms of understanding, exploring, researching, managing, and utilizing financial services. It is expected that in the next decade, the banking industry will witness both revolution and evolution, 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 of regulators to counter the upsurge in financing of terrorism and money laundering incidences.
Transaction monitoring software had the highest penetration rate in the overall AML software market in 2016, followed by currency transaction reporting, customer identity management, compliance management software, and others. Transaction monitoring software accounted for highest market share in the AML software market for the year 2016, owing to generate 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.
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1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Market Segmentation
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Assumptions
1.3.5. Approach Adopted
2. Executive Summary
2.1. Market Snapshot: Global Anti-money Laundering Software Market
2.2. Global Anti-money Laundering Software Market, By Functionality, 2017 (US$ Mn)
2.3. Global Anti-money Laundering Software Market, By Deployment Model, 2017 (US$ Mn)
2.4. Global Anti-money Laundering Software Market, By End-use Vertical, 2017 (US$ Mn)
2.5. Global Anti-money Laundering Software Market, By Geography, 2017 (US$ Mn)
3. Market Dynamics
3.1. Introduction
3.1.1. Global Anti-money Laundering Software Market Value and Growth, 2016 – 2026, (US$ Mn) (Y-o-Y %)
3.2. Market Drivers
3.3. Market Challenges
3.4. Impact Analysis of Drivers and Challenges
3.5. Attractive Investment Proposition
3.6. Competitive Analysis
3.6.1. Market Positioning of Key Anti-money Laundering Software Providers, 2017
3.6.2. Key Strategies Adopted by the Leading Players
Chapter 4 Anti-money Laundering Software Market Segment Analysis by Application
4.1 Global Anti-money Laundering Software Market by Application
4.1.1 Tier 1 Financial Institution
4.1.2 Tier 2 Financial Institution
4.1.3 Tier 3 Financial Institution
4.1.4 Tier 4 Financial Institution
4.2 Global Anti-money Laundering Software Sales and Market Share by Application (2016-2026)
4.3 Leading Consumers of Anti-money Laundering Software by Application in 2017
4.4 Conclusion of Segment by Application
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