Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Anti-money Laundering Software Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020-2027”

LOS ANGELES, March 17, 2021 (GLOBE NEWSWIRE) -- The Global Anti-Money Laundering Software Market is expected to grow at a CAGR of around 15.5% from 2020 to 2027 and reach the market value of over US$ 3,324.9 Mn by 2027.

The global anti-money laundering software is estimated to exhibit potential growth over the forecast period. The increasing government regulations owing to the increasing suspicious activities across the globe are driving the market value. Moreover, the countries that have the most penalties in Asia in 2020 include Malaysia (US$ 3.9 Bn), Australia (US$ 921.5 Mn), Singapore (US$123 Mn), Hong Kong (US$107.8 Mn), China (US$100.1 Mn), India (US$15.6 Mn), and Pakistan (US$11.7 Mn). 

The global anti-money laundering software market is segmented on the basis of component, product, deployment type, end-use industry, and geography. Based on components, the market is divided into software and service. Based on product, market segments include transaction monitoring, currency transaction reporting, customer identity management, compliance management, and others. By deployment type, the market is divided across cloud and on-premise deployment. Additionally, the end-use industry includes IT and telecommunications, healthcare, BFSI, transportation and logistics, manufacturing, defense and government, retail, energy and utilities, and others. 


North America is leading the market with maximum revenue share in 2019 and the region is also anticipated to maintain its dominance over the forecast timeframe from 2020 to 2027. The major economies of the region including the US and Canada are the major revenue (US$ Mn) contributors. The well-established IT infrastructure and presence of major players in the region are contributing to the regional market value. In the United States and Canada, all transactions of US$10,000 or more are compulsorily required to be reported. Additionally, the United States Treasury's Financial Crimes Enforcement Network researches approximately 5 million suspicious activity reports in a year.

Furthermore, Asia Pacific is anticipated to exhibit the fastest growth over the forecast period from 2020 to 2027. The increasing expenditure on IT infrastructure and the rising adoption of cloud-based AML software is driving the market growth. The increasing government regulations are additionally bolstering the regional market value. For instance, the People’s Bank of China (PBC or PBOC) has handed out US$97 million worth of total 733 fines to the organizations that breached AML requirements.


According to the Fenergo estimates of 2020, financial institutions in the Asia Pacific and globally have racked up more than US$10.6 billion in penalties related to the non-compliance of Anti-Money Laundering (AML), Markets in Financial Instruments Directive (MiFID), data privacy regulations, and know your customer (KYC). Moreover, the Asia Pacific alone has incurred more than US$5.1 billion in penalties as regulators crackdown on poor behavior from financial services firms.

Some of the leading competitors are 3i Infotech Ltd., Accuity Birst Inc., Fiserv Inc., IBM, Infosys, NICE Actimize Inc., Norkom Technologies Ltd, Oracle Corporation, SAS Institute Inc., and TCS. The major players are continuously updating the features of their solutions in order to provide advanced care and protection to their clients. Additionally, their expansion in the untapped and developing economies is further bolstering the regional market value. 

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Some of the key observations regarding the anti-money laundering software industry include:

  • In 2021, Hewlett Packard Enterprise (HPE) has announced a collaboration with Tookitaki to provide a new offering designed for banks and financial institutions across Asia-Pacific. Tookitaki is a prominent provider of compliance solutions for the financial services industry. The new strategic offering will deliver Tookitaki’s artificial intelligence (AI) powered anti-money laundering (AML) solution in a secure and flexible as-a-service consumption model using HPE GreenLake for Big Data.

  • In 2021, CSL Stockbrokers has signed a collaboration with award-winning software AMLtrac iFinancials’, which enables the organization to focus on its core business and customers. CSL Stockbrokers is a financial advisory, financial solution, and investment organization that provides corporate, individual, and government clients with high-quality professional and personalized financial and investment services. The prominent features of AMLtrac include  

  • Know Your Customer (KYC) and document management, account monitoring and transaction tracking, SWIFT real-time message screening, alert management system case tool, screening and filtering engine, management information, and database query tools. 



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