Data Bridge Market Research analyses that the Europe Anti-Money Laundering Software Market will grow at a CAGR of 14.7% from 2022 to 2029.
Europe Anti-Money Laundering Software Market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an Analyst Brief. Our team will help you create a revenue impact solution to achieve your desired goal.
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Europe Anti-Money Laundering Software Market Analysis:
Customer data are filtered by anti-laundering systems, classified according to a level of suspicion, and inspected for anomalies. Anti-money laundering refers to a set of laws, legislation, and procedures to prevent criminals from disguising illicit funds as legitimate income. While anti-money laundering (A.M.L.) laws cover a relatively limited range of transactions and criminal behaviors, they have far-reaching implications. Also, A.M.L. enforcement officers are appointed to supervise anti-money laundering policies and ensure compliance by banks and other financial institutions. Thus, the Increasing stringent regulations and compliance related to aml is increasing the demand for anti-money laundering software in the market. However, high device compatibility issues of aml software to hamper the growth of the market.
Key players operating in the Europe Anti-Money Laundering Software market include:
- Fenergo
- Jumio
- SYNECHRON
- WNS (Holdings) Ltd
- Wipro Limited
- SWIFT
- Comarch SA
- InfrasoftTech
- Larsen & Toubro Infotech Limited
- Reed Business Information Limited (ACCUITY)
- Global RADAR
- Fiserv, Inc
- Fair Isaac Corporation
- BAE Systems
- NICE ACTIMIZE
- AML Partners
- ACI Worldwide, Inc.
- SAS Institute Inc.
Recent Developments
- In April 2022, Experian Information Solutions, Inc. launched a new fraud prevention solution. The key feature of this solution was to strengthen the customer identity verification by strengthening requirements such as anti-fraud measures, Know Your Customer (KYC) and Anti-money Laundering (A.M.L.). The company benefited from this solution as it helped to create a seamless on-boarding process and made the authentication process of a person easy for many businesses.
- In February 2021, NICE Systems Ltd launched an AI-powered screening solution for improving risk management capabilities. The key feature of this solution was real-time and batch screening capabilities, seamless access, use of fuzzy matching technologies, facial biometrics, and ongoing monitoring for A.M.L. value chain. This solution helps the company to offer superior data management, advanced screening capabilities and customer satisfaction.
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Europe Anti-Money Laundering Software Market Segmentations:
By Offering
- Solution
- Services
Function
- Compliance Management
- Currency Transaction Reporting
- Customer Identity Management
- Transaction Monitoring
- Others
Deployment Mode
- Cloud
- On-Premises
Enterprise Size
- Large Enterprises
- Small & Medium Enterprises
Gambling Type
- Lottery
- Sports Betting
- Bingo
- Raffles/Pools
- Casino
Application
- Offline/Land Based Medium
- Live Entertainment/Online
- Gambling Entity
- Organizations
- Sole Trader/Partnership
- Others
Europe Anti-Money Laundering Software Market Country Level Analysis
Europe anti-money laundering software market is covers countries such as U.K., Germany, France, Italy, Spain, Russia, Netherlands, Switzerland, Turkey, Belgium , Ireland , Austria , Czechia , Hungary, Slovakia and Rest of Europe.
U.K. is expected to dominate the Europe anti-money laundering software market as the country is witnessing increasing government's support for "KYC/CDD and Watchlist" networks, Money laundering is a type of financial crime. It involves taking criminally obtained proceeds (dirty money) and disguising their origins so they'll appear to be from a legitimate source. Anti-money laundering (A.M.L.) refers to the activities financial institutions perform to comply with legal requirements to monitor for actively and report suspicious activities and the growth of the country in the Europe anti-money laundering software market.
The country section of the anti-money laundering software market report also provides individual market impacting factors and domestic regulation changes that impact the market's current and future trends. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the significant pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands and the impact of sales channels are considered while providing forecast analysis of the country data.
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