Regulators back Anti-Money Laundering developments
Summary Global anti-money laundering software market was valued at $ 898 million in 2018 and is forecast to grow at a CAGR of around 14% to reach $ 1.9 billion by 2024 on account of surging demand for monitoring the suspicious transaction and analyzing the customer data. With the increasing cases of money laundering, companies operating under the financial sector have started using anti-money laundering software in order to enhance security. Use of visualization tools can help companies to reduce the time required to analyze the data and hypothesize monitoring strategies. Moreover, governments of several countries have started forming regulations to address the issue of money laundering, thereby further fueling growth in the market. Anti-Money Laundering Software Market Segments Anti-money laundering software market serves various end-users such as banking, asset management, insurance, legal service providers and others. Banking acquired the majority share in 2018. M...