According to the current analysis of Reports and Data, the global Anti-Money Laundering market was valued at USD 0.98 Billion in 2018 and is expected to reach USD 5.19 Billion by the year 2026, at a CAGR of 21.7%.  The study provides an overall insight into the factors responsible for the growth in the anti-money laundering market. The factors driving the anti-money laundering market increased adoption of digital payments, organizations need to comply with stringent regulatory compliance, and the rising analytics applications for risk management. Owing to rising urbanization and digitalization across the world, end-user sectors like BFSI, Government and financial institutions have experienced growth which is expected to supplement the growth of anti-money laundering market. An increasing number of key players are partnering up with the major core companies in the above sectors to provide superior and more efficient platform to help them grow their business as well as redefine experiences for the customers.

The market presents several opportunities for the vendors due to the increased revenue losses because of the fraudulent activities. The growth of anti-money laundering market is expected to be restrained due to the lesser availability of technical support, solution quality and ease of integration, involved in using Anti-Money Laundering solution. It is anticipated that extensive research and development funded by various companies, along with the enhancements of the cloud computing services would help in overcoming this challenge and convert it into an opportunity for the market to thrive upon. Seamless and simplified integration of solutions, robust data analysis, real-time updated customer information, improved risk protection, and improved efficiency along with faster processing of cases are some of the key benefits offered by the anti-money laundering solutions for the banking and financial institutions, insurance providers, and private financial organizations.

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Further key findings from the report suggest

• The market is growing at a CAGR of 9% in Asia Pacific due to the rapid industrialization, urbanization and digitalization of the developing countries and the increased use of digital payments in the region.
• Global modernization and dawn of technologies like the blockchain, has increased the number of digital financial transactions using numerous smart electronic devices like smartphones, tablets and laptops which is expected to increase the use of anti-money laundering and expand its market size.
• Governments are investing in the digitalization of the financial and the banking industry to help modernize the state-run services which are availed by people for the digital payments, online banking, and UPI payments. These services critically contribute the revenue generated by countries. It is expected this factor would help the anti-money laundering market grow.
• The cloud deployment model is expected to dominate the anti-money laundering market owing to its low cost implementation and flexible subscription models suitable for the end users.
• The large enterprises to dominate the market in 2019, however with increasing strategic investments and venture funding several start-ups and SMEs are developing innovative solutions in the anti-money laundering market
• The KYC is estimated to have the fastest growing segment due to the increasing use of KYC in every industry and regulations for the use of KYC for banking and financial transactions in developing countries such as India.
• The vendors in the market have adopted various strategies to increase the product ecosystem and gain a competitive edge over its competitors. For instance FIS acquired Worldpay in 2019, to complement its existing product portfolio; FICO partnered with Visma Connect to extend its KYC services in the financial domain
• Key participants include FICO, ACI Worldwide, BAE Systems, Oracle, Experian, Nice, Lexisnexis Risk Solutions, Fiserv, FIS, Transunion, Napier, Caseware, Nelito Systems, Finacus Solutions, and Workfusion

The Global Anti-Money Laundering Market is segmented as follows:

Component type (Revenue in USD Million; 2016–2026)

• Solution
• Services
• Consulting Services
• Risk Assessment
• System Integration and deployment
• Technical Support
• Managed

Technology Type (Revenue in USD Million; 2016–2026)

• Know Your Customer (KYC) Systems
• Transaction Monitoring
• Case Management
• Compliance Management
• Auditing and Reporting

Deployment type (Revenue in USD Million; 2016–2026)

• On-Premises
• Cloud

Organization Size (Revenue in USD Million; 2016–2026)

• Large Enterprises
• Small and Medium Scale Enterprises

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Market Segmentation by Regions:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Questions Answered by the Report:

• Which market segment or sub-segment is expected to grow at the highest CAGR during the forecast timeline?
• What is the forecast valuation of the Anti-Money Laundering market?
• Who are the leading players in the industry? What are the weaknesses and strengths of these players?
• What are the strategic business steps and initiatives taken by the key competitors in the industry?
• What region is expected to dominate the market in the forecast period?

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