DUBLIN--(BUSINESS WIRE)--The "Anti-Money Laundering (AML) Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global anti money laundering (AML) software market is expected to grow at a CAGR of around 14% during 2021-2026.
- ACI Worldwide Inc.
- AML Partners LLC
- BAE Systems PLC
- CaseWare RCM Inc. (CaseWare International Inc.)
- Experian PLC
- Fair Isaac Corporation
- Fidelity National Information Services Inc.
- Fiserv Inc.
- Oracle Corporation
- SAS Institute Inc.
- Tata Consultancy Services Limited (Tata Sons Private Limited)
Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
AML refers to a software application that enables banks and other financial institutions to analyze customer data and identify suspicious transactions. It involves transaction monitoring, customer identity authentication and compliance management. Systems equipped with AML software filter information and provide real-time alerts to enhance the security and operational efficiency of organizations. They also target market manipulations, trade of illegal goods, fraudulent activities with public funds and tax evasions. Owing to these benefits, it finds applications across various industries, including banking, financial services and insurance (BFSI), information technology, defense and retail.
The market is primarily driven by the increasing instances of money laundering and sophisticated cyber-attacks across the globe. Cybercriminals explore possible vulnerabilities in an organization's infrastructure to commit fraud and ransomware attacks, which can be effectively countered via systems equipped with AML software. Furthermore, the introduction of security solutions integrated with the Internet of Things (IoT), machine learning (ML), Big Data analytic tools and cloud-based solutions, is also driving the anti money laundering software market growth. Organizations are adopting advanced technologies with improved compliance capabilities to track financial data and predict risks and uncertainties.
The advent of Know Your Customer (KYC) technology is also favoring the market growth. KYC refers to the practice of authenticating users' identities, blocking unauthorized access and preventing losses due to illegal transactions. Other factors, including the implementation of favorable government policies for periodic monitoring and controlling criminal activities, along with significant developments in the information technology (IT) sector, are also expected to drive the market further.
Key Questions Answered in This Report
- How has the global anti-money laundering (AML) software market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global anti-money laundering (AML) software market?
- What are the key regional markets?
- What is the breakup of the market based on the component?
- What is the breakup of the market based on the deployment mode?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the end use industry?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global anti-money laundering (AML) software market and who are the key players?
- What is the degree of competition in the industry?
Key Topics Covered:
2 Scope and Methodology
3 Executive Summary
4.2 Key Industry Trends
5 Global Anti-Money Laundering (AML) Software Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Component
7 Market Breakup by Deployment Mode
8 Market Breakup by Application
9 Market Breakup by End-use Industry
10 Market Breakup by Region
11 SWOT Analysis
12 Value Chain Analysis
13 Porters Five Forces Analysis
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/au4v9w