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Global Anti-Money Laundering Software Market

Focus on Software Type, Deployment Mode, and End User – Analysis and Forecast, 2020-2025

 
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Answer – The global market anti-money laundering software is projected to grow at a CAGR of 14.12% during the forecast period, 2020-2025. The market is expected to reach $4.09 billion by the year 2025.

Answer - The key factors that are expected to drive the growth of the market include increasing implementation of network analytics for streamlining fraud detection operations, rise in volume of wired transactions, increasing compliance requirement of international regulatory bodies, high adoption of cloud services by financial sector, and growing need for automated transaction monitoring systems.

Answer - Transaction monitoring software had the highest revenue in the overall AML software market in 2019. Adoption of transaction monitoring software is expected to grow due to the generation of risk assessment of a customer, thereby facilitating prediction of risk levels and future activities, along with providing reports and creating alerts for suspicious activities.

Answer - The key market players in the anti-money laundering software market include ACI Worldwide, BAE Systems, Fiserv, Inc., Oracle Corporation, Accuity Inc, Global Radar, Infrasoft Technologies Ltd., Safe Banking Systems, SAS Institute Inc., and CaseWare RCM Inc, among others.

Answer - The factors influencing the growth of the market are also expected to create certain opportunities in the market. These opportunities can be in terms of adoption of analytics and machine learning in AML, introduction of anti-money laundering software in cryptocurrency market, adoption of AML solutions by emerging economies, and implementation of robotic process automation in AML and KYC.

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