Published Date : Aug 08, 2016
ALBANY, NY, Aug 08, 2016 - MarketResearchReports.biz has added a new report, titled ‘Global Anti-Money Laundering Software Market 2016-2020,’ to its offering. This report presents a detailed reports of the market for anti-money laundering software. It also provides insights into the key factors influencing the growth of the market such as the drivers, challenges, opportunities, and trends. Porter’s five forces reports has been utilized in the report and an extensive understanding of the buyers and suppliers in the market has thus been presented. The key vendors, their recent developments, and SWOT reports form a key part of this study.
The first section of the report provides an introduction to the market, highlighting the present as well as forecast figures of this market. As per the study, the global anti-money laundering software market is poised to steadily grow at an 11.0% CAGR from 2016 to 2020. Anti-money laundering software provides increased security to enterprises and financial institutions by helping them evaluate transactional data obtained from customers and detect suspicious transactions.
Anti-money laundering software also features real-time alerts for reporting any type of suspicious events, which maximizes security as well as operational efficiency. This is why this anti-money laundering programs will be widely adopted by enterprises and other institutions globally in the coming years.
Moving further, the report presents the segmentation of the anti-money laundering software market. In terms of geography, the report segments the market into Asia Pacific (APAC), Europe, the Middle East, and Africa (EMEA), and the Americas. Of these, the Americas are predicted to lead the market in the forecast horizon.
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On the other hand, APAC is expected to experience the highest growth rate in the coming years. The reasons for the superiority of this region include the growing regulatory compliance requirements and the increasing implementation of anti-money laundering software solutions in developing economies such as India, China, and Australia.
In the following section, the factors impacting the growth of the market have been detailed. The increasing requirement for regulatory compliance and the rising preference for automated transaction monitoring systems globally will stimulate the development of the market for anti-money laundering software. In addition, the rising technological developments in financial institutions will also positively impact the growth of this market.
The growing utilization of predictive analytics and the growing preference for ‘know your customer’ (KYC) analytics are the prime trends seen in this market. In addition, the increasing penetration of cloud-based anti-money laundering software solutions and the increasing employment of this software by medium-sized enterprises are also amongst the key trends in the market.
On the other hand, the increasing problems related to security of data and the complexity of the data interpretation involved in the use of anti-money laundering software may hamper the growth of the market in the coming years, as stated in this study.
As per the report, the prominent vendors in the global anti-money laundering software market are ACI Worldwide, AML360, AML Partners, AML RightSource, BAE, EastNets, Experian, Fiserv, Nice Actimize, and Oracle, among others.
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