Anti-Money Laundering Solution Market by Component, Technology Type (KYC Systems, Transaction Monitoring, Case Management, Compliance Management, Auditing and Reporting), Deployment Mode, Organization Size, and Region - Global Forecast to 2024

Anti-Money Laundering Solution Market by Component, Technology Type (KYC Systems, Transaction Monitoring, Case Management, Compliance Management, Auditing and Reporting), Deployment Mode, Organization Size, and Region - Global Forecast to 2024

The exponential rise in money laundering and terrorist financing activities in the BFSI sector and increased adoption of digital payment modes to drive the overall AML solution market
The global Anti-Money Laundering (AML) solution market size is projected to grow from USD 1.5 billion in 2019 to USD 3.6 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 19.5% during the forecast period. Various factors such as the exponential rise in money laundering and terrorist financing activities and huge monetary losses owing to these activities in the Banking, Financial Services and Insurance (BFSI) sector, are expected to drive the market. However, a lack of awareness among organizations about the importance of AML solutions and lack of skilled AML professionals may restrain the market growth.

Solution segment to hold a larger market size during the forecast period
The solution segment is expected to hold a larger market size in the AML solution market during the forecast period. AML solution vendors help financial institutions to tackle money laundering activities and the threats they pose, owing to increased online transactions and eBanking facilities in their organizations for enhancing customer experience. Transaction monitoring technology is a discipline of monitoring of customer transactions including assessing historical/current customer information related to transactions. Transaction monitoring provides a complete picture of customer activity. This can include transfers, deposits, and withdrawals. The technology provides a control mechanism to prevent AML activities in real time.

Know Your Customer (KYC) systems help enterprises in validating the identity of the transactions between the individuals as well as restricting any unauthorized access across organizations networks, servers, and other infrastructure. Furthermore, the KYC solution is implemented across enterprises to manage business risks and abide with regulatory compliance environment.

By deployment mode, cloud segment to grow at a higher CAGR during the forecast period
Under deployment mode, the AML solution market is segmented by cloud and on-premises. The cloud deployment type is set to grow at a higher CAGR during the forecast period. The deployment of cloud-based AML solutions is done over the internet, where software, infrastructure, platforms, devices, and other resources are provided as services on a pay-per-use basis by consumers. The cloud-based platform offers a unified way in the form of Software as a Solution (SaaS)-based AML services to secure business applications. Cloud-based systems are comparatively less expensive than the on-premises deployment mode, thus permitting businesses to reduce Information Technology (IT) expenses, including hardware and support staff. Owing to these factors, organizations are adopting the cloud-based deployment type for deploying AML solutions on a large scale.

North America to account for the largest market size
North America is projected to hold the largest market size in the overall AML solution market during the forecast period, owing to the early adoption of the AML solutions in the region. Protecting enterprise-critical infrastructures and transactional data has become one of the major challenges, as the world is moving toward interconnections and digitalization. Growing trends, such as Internet of Things (IoT), Internet of Everything (IoE), and penetration of smartphones, have increased the volume of data and transactions performed by online users. Moreover, mobile users are frequently targeted by fraudsters, as online mobile banking has become a popular method of performing financial transactions. The rise in Money Laundering and Terrorist Financing (ML/TF) activities and government compliances has made North America the most lucrative industry for different categories of vendors.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the insurance AML marketplace.

By Company: Tier 1 – 20%, Tier 2 – 55%, and Tier 3 – 25%
By Designation: C-level Executives– 50%, Director level – 25%, and Others – 25%
By Region: North America – 45%, Europe – 25%, APAC – 20%, Latin America – 5%, MEA: – 5%

Major vendors in the global insurance fraud detection market include FICO (US), NICE (Israel), BAE Systems (UK), SAS Institute (US), Experian (Ireland), LexisNexis (US), FIS Global (US), CaseWare (Canada), WorkFusion (US), Fiserv (US), ACI Worldwide (US), TransUnion (US), Oracle (US), Finacus Solutions (India), and Nelito Systems (India).

Research Coverage
The market research covers the AML solution market across segments. It aims at estimating the market size and the growth potential of the market across segments, such as components (solution and services), technology types, deployment modes, organization sizes, and regions. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report
The report will help the market leaders/new entrants in the AML solution market with information on the closest approximations of the revenue numbers for the overall AML solution market and the subsegments. The report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.


  • INTRODUCTION
    • OBJECTIVES OF THE STUDY
    • MARKET DEFINITION
    • MARKET SCOPE
      • MARKET SEGMENTATION
      • REGIONS COVERED
    • YEARS CONSIDERED FOR THE STUDY
    • CURRENCY CONSIDERED
      • Table UNITED STATES DOLLAR EXCHANGE RATE, 2016-2018
    • STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • RESEARCH DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • MARKET BREAKUP AND DATA TRIANGULATION
    • MARKET SIZE ESTIMATION
      • TOP-DOWN APPROACH
      • BOTTOM-UP APPROACH
    • MARKET FORECAST
      • Table FACTOR ANALYSIS
    • ASSUMPTIONS FOR THE STUDY
    • LIMITATIONS OF THE STUDY
  • EXECUTIVE SUMMARY
    • Table ANTI-MONEY LAUNDERING SOLUTION MARKET SIZE AND GROWTH, 2017-2024 (USD MILLION, Y-O-Y %)
  • PREMIUM INSIGHTS
    • ATTRACTIVE MARKET OPPORTUNITIES IN THE ANTI-MONEY LAUNDERING SOLUTION MARKET
    • ANTI-MONEY LAUNDERING SOLUTION MARKET: MARKET SHARE OF TOP 3 TECHNOLOGY TYPES AND REGIONS, 2019
    • ANTI-MONEY LAUNDERING SOLUTION MARKET, BY COMPONENT, 2019-2024
    • ANTI-MONEY LAUNDERING SOLUTION MARKET, BY DEPLOYMENT MODE, 2019
    • ANTI-MONEY LAUNDERING SOLUTION MARKET, BY ORGANIZATION SIZE, 2019
    • MARKET INVESTMENT SCENARIO
  • MARKET OVERVIEW
    • INTRODUCTION
    • MARKET DYNAMICS
      • DRIVERS
      • RESTRAINTS
      • OPPORTUNITIES
      • CHALLENGES
    • REGULATORY LANDSCAPE
      • FINANCIAL INDUSTRY REGULATORY AUTHORITY
      • FINANCIAL ACTION TASK FORCE
      • INTERNATIONAL MONETARY FUND
      • GENERAL DATA PROTECTION REGULATION
      • GRAMM-LEACH-BLILEY ACT
      • SARBANES-OXLEY ACT
  • ANTI-MONEY LAUNDERING SOLUTION MARKET, BY COMPONENT
    • INTRODUCTION
      • Table ANTI-MONEY LAUNDERING SOLUTION MARKET SIZE, BY COMPONENT, 2017-2024 (USD MILLION)
    • SOLUTION
      • INCREASING INSTANCES OF MONEY LAUNDERING TO DRIVE THE ADOPTION OF AML SOLUTION
        • Table SOLUTION: ANTI-MONEY LAUNDERING SOLUTION MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
    • SERVICES
      • Table SERVICES: ANTI-MONEY LAUNDERING SOLUTION MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
      • Table SERVICES: ANTI-MONEY LAUNDERING SOLUTION MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
      • PROFESSIONAL SERVICES
        • Table PROFESSIONAL SERVICES: ANTI-MONEY LAUNDERING SOLUTION MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
        • Table PROFESSIONAL SERVICES: ANTI-MONEY LAUNDERING SOLUTION MARKET SIZE, BY REGION, 2017- 2024 (USD MILLION)
        • Table CONSULTING SERVICES MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
        • Table TRAINING AND EDUCATION MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
        • Table RISK ASSESSMENT MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
        • Table FORENSIC AND INVESTIGATION MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
    • MANAGED SERVICES
      • NEED TO MEET COMPLIANCE NEEDS TO DRIVE ADOPTION OF MANAGED SERVICES
        • Table MANAGED SERVICES: ANTI-MONEY LAUNDERING SOLUTION MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
  • ANTI-MONEY LAUNDERING SOLUTION MARKET, BY TECHNOLOGY TYPE
    • INTRODUCTION
      • Table ANTI-MONEY LAUNDERING SOLUTION MARKET SIZE, BY TECHNOLOGY TYPE, 2017-2024 (USD MILLION)
    • KNOW YOUR CUSTOMER SYSTEMS
      • INCREASING IDENTITY THEFTS IN FINANCIAL SECTOR TO DRIVE ADOPTION OF KYC SYSTEMS
        • Table KNOW YOUR CUSTOMER SYSTEMS: ANTI-MONEY LAUNDERING SOLUTION MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
    • TRANSACTION MONITORING
      • NEED TO MINIMIZE ELECTRONIC PAYMENT FRAUDS TO DRIVE THE ADOPTION OF TRANSACTION MONITORING TECHNOLOGY
        • Table TRANSACTION MONITORING: ANTI-MONEY LAUNDERING SOLUTION MARKET SIZE, BY REGION, 2017- 2024 (USD MILLION)
    • CASE MANAGEMENT
      • NEED TO PREVENT MONEY LAUNDERING ACROSS THE WORLD TO FUEL THE ADOPTION OF CASE MANAGEMENT
        • Table CASE MANAGEMENT: ANTI-MONEY LAUNDERING SOLUTION MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
    • COMPLIANCE MANAGEMENT
      • NEED TO COMPLY WITH CONTINUOUSLY EVOLVING REGULATIONS TO FUEL THE ADOPTION OF COMPLIANCE MANAGEMENT TECHNOLOGY
        • Table COMPLIANCE MANAGEMENT: ANTI-MONEY LAUNDERING SOLUTION MARKET SIZE, BY REGION, 2017- 2024 (USD MILLION)
    • AUDITING AND REPORTING
      • RISING INSTANCES OF FRAUDULENT AUTHENTICATION, MONEY LAUNDERING, AND ACCOUNT TAKEOVERS TO DRIVE THE ADOPTION OF AUDITING AND REPORTING TECHNOLOGY TYPE
        • Table AUDITING AND REPORTING: ANTI-MONEY LAUNDERING SOLUTION MARKET SIZE, BY REGION 2017- 2024 (USD MILLION)
  • ANTI-MONEY LAUNDERING SOLUTION MARKET, BY DEPLOYMENT MODE
    • INTRODUCTION
      • Table ANTI-MONEY LAUNDERING SOLUTION MARKET SIZE, BY DEPLOYMENT MODE, 2017-2024 (USD MILLION)
    • CLOUD
      • LOW COST OF INSTALLATION, UPGRADE, AND MAINTENANCE TO INCREASE THE ADOPTION OF CLOUD-BASED AML SOLUTIONS
        • Table CLOUD: ANTI-MONEY LAUNDERING SOLUTION MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
    • ON-PREMISES
      • NEED TO SECURE IN-HOUSE APPLICATIONS, PLATFORMS, AND SYSTEMS AGAINST INCREASING FRAUDULENT ACTIVITIES TO FUEL THE DEMAND FOR ON-PREMISES DEPLOYMENT MODE
        • Table ON-PREMISES: ANTI-MONEY LAUNDERING SOLUTION MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
  • ANTI-MONEY LAUNDERING SOLUTION MARKET, BY ORGANIZATION SIZE
    • INTRODUCTION
      • Table ANTI-MONEY LAUNDERING SOLUTION MARKET SIZE, BY ORGANIZATION SIZE, 2017-2024 (USD MILLION)
    • SMALL AND MEDIUM-SIZED ENTERPRISES
      • GROWING FRAUDULENT ACTIVITIES TO DRIVE THE ADOPTION OF AML SOLUTION AMONG SMALL AND MEDIUM-SIZED ENTERPRISES
        • Table SMALL AND MEDIUM-SIZED ENTERPRISES: ANTI-MONEY LAUNDERING SOLUTION MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
    • LARGE ENTERPRISES
      • RISE IN FINANCIAL LOSSES AND HEFTY FINES FOR REGULATORY NON-COMPLIANCE TO BOOST THE ADOPTION OF AML SOLUTION AMONG LARGE ENTERPRISES
        • Table LARGE ENTERPRISES: ANTI-MONEY LAUNDERING SOLUTION MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
  • ANTI-MONEY LAUNDERING SOLUTION MARKET, BY REGION
    • INTRODUCTION
    • NORTH AMERICA
      • Table ANTI-MONEY LAUNDERING MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
      • Table NORTH AMERICA: ANTI-MONEY LAUNDERING MARKET SIZE, BY COMPONENT, 2017-2024 (USD MILLION)
      • Table NORTH AMERICA: ANTI-MONEY LAUNDERING MARKET SIZE, BY SERVICE, 2017-2024 (USD MILLION)
      • Table NORTH AMERICA: ANTI-MONEY LAUNDERING MARKET SIZE, BY PROFESSIONAL SERVICE, 2017-2024 (USD MILLION)
      • Table NORTH AMERICA: ANTI-MONEY LAUNDERING MARKET SIZE, BY TECHNOLOGY TYPE, 2017-2024 (USD MILLION)
      • Table NORTH AMERICA: ANTI-MONEY LAUNDERING MARKET SIZE, BY DEPLOYMENT MODE, 2017-2024 (USD MILLION)
      • Table NORTH AMERICA: ANTI-MONEY LAUNDERING MARKET SIZE, BY ORGANIZATION SIZE, 2017-2024 (USD MILLION)
      • Table NORTH AMERICA: ANTI-MONEY LAUNDERING MARKET SIZE, BY COUNTRY, 2017-2024 (USD MILLION)
      • UNITED STATES
      • CANADA
    • EUROPE
      • Table EUROPE: ANTI-MONEY LAUNDERING MARKET SIZE, BY COMPONENT, 2017-2024 (USD MILLION)
      • Table EUROPE: ANTI-MONEY LAUNDERING MARKET SIZE, BY SERVICE, 2017-2024 (USD MILLION)
      • Table EUROPE: ANTI-MONEY LAUNDERING MARKET SIZE, BY PROFESSIONAL SERVICE, 2017-2024 (USD MILLION)
      • Table EUROPE: ANTI-MONEY LAUNDERING MARKET SIZE, BY TECHNOLOGY TYPE, 2017-2024 (USD MILLION)
      • Table EUROPE: ANTI-MONEY LAUNDERING MARKET SIZE, BY DEPLOYMENT MODE, 2017-2024 (USD MILLION)
      • Table EUROPE: ANTI-MONEY LAUNDERING MARKET SIZE, BY ORGANIZATION SIZE, 2017-2024 (USD MILLION)
      • Table EUROPE: ANTI-MONEY LAUNDERING MARKET SIZE, BY COUNTRY, 2017-2024 (USD MILLION)
      • UNITED KINGDOM
      • GERMANY
      • REST OF EUROPE
    • ASIA PACIFIC
      • Table ASIA PACIFIC: ANTI-MONEY LAUNDERING MARKET SIZE, BY COMPONENT, 2017-2024 (USD MILLION)
      • Table ASIA PACIFIC: ANTI-MONEY LAUNDERING MARKET SIZE, BY SERVICE, 2017-2024 (USD MILLION)
      • Table ASIA PACIFIC: ANTI-MONEY LAUNDERING MARKET SIZE, BY PROFESSIONAL SERVICE, 2017-2024 (USD MILLION)
      • Table ASIA PACIFIC: ANTI-MONEY LAUNDERING MARKET SIZE, BY TECHNOLOGY TYPE, 2017-2024 (USD MILLION)
      • Table ASIA PACIFIC: ANTI-MONEY LAUNDERING MARKET SIZE, BY DEPLOYMENT MODE, 2017-2024 (USD MILLION)
      • Table ASIA PACIFIC: ANTI-MONEY LAUNDERING MARKET SIZE, BY ORGANIZATION SIZE, 2017-2024 (USD MILLION)
      • Table ASIA PACIFIC: ANTI-MONEY LAUNDERING MARKET SIZE, BY COUNTRY, 2017-2024 (USD MILLION)
      • CHINA
      • JAPAN
      • INDIA
      • REST OF ASIA PACIFIC
    • MIDDLE EAST AND AFRICA
      • Table MIDDLE EAST AND AFRICA: ANTI-MONEY LAUNDERING MARKET SIZE, BY COMPONENT, 2017-2024 (USD MILLION)
      • Table MIDDLE EAST AND AFRICA: ANTI-MONEY LAUNDERING MARKET SIZE, BY SERVICE, 2017-2024 (USD MILLION)
      • Table MIDDLE EAST AND AFRICA: ANTI-MONEY LAUNDERING MARKET SIZE, BY PROFESSIONAL SERVICE, 2017-2024 (USD MILLION)
      • Table MIDDLE EAST AND AFRICA: ANTI-MONEY LAUNDERING MARKET SIZE, BY TECHNOLOGY TYPE, 2017- 2024 (USD MILLION)
      • Table MIDDLE EAST AND AFRICA: ANTI-MONEY LAUNDERING MARKET SIZE, BY DEPLOYMENT MODE, 2017- 2024 (USD MILLION)
      • Table MIDDLE EAST AND AFRICA: ANTI-MONEY LAUNDERING MARKET SIZE, BY ORGANIZATION SIZE, 2017- 2024 (USD MILLION)
      • Table MIDDLE EAST AND AFRICA: ANTI-MONEY LAUNDERING MARKET SIZE, BY COUNTRY, 2017-2024 (USD MILLION)
      • MIDDLE EAST
      • AFRICA
    • LATIN AMERICA
      • Table LATIN AMERICA: ANTI-MONEY LAUNDERING MARKET SIZE, BY COMPONENT, 2017-2024 (USD MILLION)
      • Table LATIN AMERICA: ANTI-MONEY LAUNDERING MARKET SIZE, BY SERVICE, 2017-2024 (USD MILLION)
      • Table LATIN AMERICA: ANTI-MONEY LAUNDERING MARKET SIZE, BY PROFESSIONAL SERVICE, 2017-2024 (USD MILLION)
      • Table LATIN AMERICA: ANTI-MONEY LAUNDERING MARKET SIZE, BY TECHNOLOGY TYPE, 2017-2024 (USD MILLION)
      • Table LATIN AMERICA: ANTI-MONEY LAUNDERING MARKET SIZE, BY DEPLOYMENT MODE, 2017-2024 (USD MILLION)
      • Table LATIN AMERICA: ANTI-MONEY LAUNDERING MARKET SIZE, BY ORGANIZATION SIZE, 2017-2024 (USD MILLION)
      • Table LATIN AMERICA: ANTI-MONEY LAUNDERING MARKET SIZE, BY COUNTRY, 2017-2024 (USD MILLION)
      • BRAZIL
      • MEXICO
      • REST OF LATIN AMERICA
  • COMPETITIVE LANDSCAPE
    • COMPETITIVE LEADERSHIP MAPPING
      • VISIONARY LEADERS
      • INNOVATORS
      • DYNAMIC DIFFERENTIATORS
      • EMERGING COMPANIES
    • COMPETITIVE SCENARIO
      • PARTNERSHIPS, AGREEMENTS, AND COLLABORATIONS
        • Table PARTNERSHIPS, AGREEMENTS, AND COLLABORATIONS, 2018-2019
      • NEW PRODUCT LAUNCHES/PRODUCT ENHANCEMENTS
        • Table NEW PRODUCT LAUNCHES/PRODUCT ENHANCEMENTS, 2018-2019
      • MERGERS AND ACQUISITIONS
        • Table MERGERS AND ACQUISITIONS, 2017-2018
      • BUSINESS EXPANSIONS
        • Table BUSINESS EXPANSIONS, 2017-2018
  • COMPANY PROFILES
    • INTRODUCTION
    • SAS INSTITUTE
      • BUSINESS OVERVIEW
      • SOLUTIONS AND SERVICES OFFERED
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • FICO
      • BUSINESS OVERVIEW
      • SOLUTIONS OFFERED
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • ACI WORLDWIDE
      • BUSINESS OVERVIEW
      • SOLUTIONS OFFERED
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • BAE SYSTEMS
      • BUSINESS OVERVIEW
      • PRODUCTS AND SERVICES OFFERED
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • ORACLE
      • BUSINESS OVERVIEW
      • SOLUTIONS OFFERED
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • EXPERIAN
      • BUSINESS OVERVIEW
      • SOLUTIONS AND SERVICES OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • NICE
      • BUSINESS OVERVIEW
      • SOLUTIONS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • LEXISNEXIS RISK SOLUTIONS
      • BUSINESS OVERVIEW
      • SOLUTIONS AND SERVICES OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • FISERV
      • BUSINESS OVERVIEW
      • SOLUTIONS AND SERVICES OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • FIS
      • BUSINESS OVERVIEW
      • SOLUTIONS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • TRANSUNION
      • BUSINESS OVERVIEW
      • SOLUTIONS OFFERED
      • RECENT DEVELOPMENTS
    • NAPIER
      • BUSINESS OVERVIEW
    • CASEWARE
    • NELITO SYSTEMS
    • FINACUS SOLUTIONS
    • WORKFUSION
  • APPENDIX
    • DISCUSSION GUIDE
    • KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
    • AVAILABLE CUSTOMIZATIONS
    • RELATED REPORTS
    • AUTHOR DETAILS

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