The Europe Anti-money Laundering Market would witness market growth of 17.4% CAGR during the forecast period (2020-2026). An increase in the adoption of machine learning (ML) in several industries is aiding both consumers and companies in the overall anti-money laundering software market. With the help of ML, investors in the value chain are also increasing their profits since the new technique is helpful in recognizing unobserved patterns. Hereafter, companies involved in developing anti-money laundering software are evolving solutions that can be integrated with cloud computing, and MI.
Companies involved in the anti-money laundering software market are focused on increasing research that contributes to developing software with ML in order to incorporate with other functional modules. They are putting cumulative efforts to in order to develop solutions that can fulfill with government norms. These advanced software systems are attaining visibility in insurance companies, and banks, because of the increasing need for software systems. They are capable of identifying clients and transactions that can have a possible compliance risk.
Due to the high usage of digital platforms, there is a growing amount of data on networks resulting in increased load on the infrastructure security of financial institutes, and banks. Even though banks are taking many precautions, they are being attacked by hackers that is why they suffer from huge losses. Henceforth, the advanced AML solution’s demand is increasing, having a positive impact on the market growth. Cybercrimes like financial crimes are rising due to the cumulative data on networks. The financial institutes and banks are now adopting data analytics tools in order to improve their security measures. This is anticipated to have a positive impact on market growth.
Based on Component, the market is segmented into software and servies. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Product, the market is segmented into Customer Identity Management, Compliance Management, Transaction Monitoring and Currency Transaction Reporting. Based on End User, the market is segmented into BFSI, Healthcare, Telecom & IT, Government and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: Anti-money Laundering Market in Europe is expected to register a CAGR of 17.4% during the forecast period (2020-2026)
The market research report covers theanalysis of key stake holders of the market. Key companies profiled in the report include ACI Worldwide, Inc., BAE Systems PLC, Fiserv, Inc., NICE Ltd., Oracle Corporation, SAS Institute, Inc., Fidelity Information Services (FIS), Inc., Accenture PLC, Comarch SA and Temenos AG.
Market Segmentation:
By Component
By Deployment Type
By Product
By End User
By Country
Companies Profiled
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