Money Laundering Solution used in the finance, banks and legal industries that effectively conduct due diligence and comply with government regulations in order to prevent and report money laundering activities. The propelling number of terrorist funding activities and money laundering incidences across the globe is propelling the demand for the anti-money laundering solutions. Moreover, the stringent regulations and mandates by the government coupled with the surging trend of the digital payment mode is contributing to the growth of the market.
According to MarkNtel Advisors’ research report titled “Global Anti Money Laundering Solution Market Analysis, 2020”, the Global Anti-Money Solutions market is anticipated to grow at a CAGR of around 18.22% during 2020-25. In 2019, the North America region dominated the market on an account of the early adoption of anti-money solutions due to increasing cases of money laundering. The rise in the fines imposed by the government for the non-deployment of anti-money laundering solutions is also contributing to the growth of the market.
In 2019, the on-premise deployment acquired the major share due to the easy customization. However, end users are shifting toward the cloud-based solution due to the low operational cost and flexibility. Moreover, the KYC segment dominated the market due to a growing need to maintain the database and to block any unauthorized person to access the information.
Mergers and Acquisitions by the Companies Leading to Stiff Competition
The companies in the Anti-Money Laundering market are adopting strategies such as mergers and acquisitions, partnerships, and product launches to remain competitive in the market. The companies with a considerable share in the industry are SAS Institute, FICO, ACI Worldwide, BAE Systems, Oracle, etc.
Key Questions Answered in the Market Research Report
1. What are the key overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of Global Anti-Money Laundering Market?
2. What are the region wise industry size, growth drivers and challenges key market trends?
3. What are the key innovations, technology upgrades, opportunities, regulations in the Global Anti-Money Laundering Market?
4. Who are the key competitors or market players and how they perform in Global Anti-Money Laundering Market on the basis of competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the course of Global Anti-Money Laundering Market study?