Data Bridge Market research has a newly released expansive study titled “Europe Anti-Money Laundering Software Market” which guarantees you will remain better informed than your competition. This study provides a broader perspective of the marketplace with its comprehensive market insights and analysis which eases survival and success in the market. Due to high demand and the value of market research for the success of different sectors, the Europe Anti-Money Laundering Software market report has been prepared by covering many work areas. This Europe Anti-Money Laundering Software market report lets you know how the market is going to perform in the forecast years by giving you information about market definitions, classifications, applications, and engagements.

Data Bridge Market Research analyses that the anti-money laundering software market will grow at a CAGR of 14.7% from 2022 to 2029.

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.

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Europe Anti-Money Laundering Software Market Drivers:

Increase in use of seon software

Money laundering is the process of converting illegal money into a legal form. The purpose of criminals laundering money is to earn revenue. Money laundering has become a significant financial problem and crime today. Every year billions of dollars are illegally smuggled to international borders through various modes. Money Laundering has become a critical financial issue that financial authorities are trying to stop.

Increase in stringent regulations and compliance related to AML

An anti-money laundering compliance program is a set of regulations or rules that a financial institution must follow to prevent and detect money laundering and terrorist funding activities. In recent times, the financial crime against financial institutions such as banks and credit unions have significantly increased. There was a ~50- 60% increment in financial fraud cases in 2019 from 2018 and it is expected to grow in coming years. The losses incurred by the banks across Europe is quite significant.

Growth in demand for AML software

Financial institution such as central banks, retail and commercial banks, internet banks, credit unions, savings and loans associations, investment banks among others are compelled by government law to tackle various issues such as money laundering, terrorist funding activities among others by using regulation which are designed to strengthen the A.M.L. solution. Institutions such as the financial action task force, European Union – fifth anti-money laundering directives are laid regulatory guidelines. Anti-Money Laundering (A.M.L.) technologies can also be used for I.D. verification and A.M.L. solution is easier and more accurate than manual processes for I.D. verification. The A.M.L. solutions offer I.D. verification in financial institution using KYC verification. KYC is more specific towards the verification of customer identities before permitting a transaction. Thereby, it helps to validate the identity and is one of the criteria used by A.M.L. solutions.

Growth in demand for transaction monitoring systems in the information technology (I.T.) sector

Transaction monitoring has become essential to anti-money laundering (A.M.L.) systems. All financial institutions should have transaction monitoring systems to keep an eye out for any suspicious transactions and financial crimes from customers. Transaction monitoring includes assessing of historical/current customer information to provide a complete picture of customer activity. This can include transfers, deposits, and withdrawals. Most information technology (I.T.) firms will use software tool automatically. It is very difficult to monitor these acquired data as it is a challenging task to do manually. Therefore, many I.T. companies have adopted automated systems such as anti-money laundering systems.

Opportunity

Increase in adoption of advanced analytics in aml

Advanced analytics is the autonomous or semi-autonomous system that analyze data or content using sophisticated techniques and tools which is quite different from the traditional business intelligence. These analytics give data which the system predicts and generates a deeper analysis using which the system predicts and generates recommendations. Advanced analytics in A.M.L. solutions can play a vital role in detecting money laundering, economic crimes, identity theft, and cross-border transactions.

Restraint/Challenge

Change in regulation framework and guidelines for aml solution

A.M.L. compliance practices concentrate on setting the policies and norms that prevent potential violators from engaging in money laundering fraud and financial crime. In this way, criminals cannot hide money’s illicit origin in any transaction.

Key players operating in the Europe Anti-Money Laundering Software market include:

Some of the major players operating in the Europe anti-money laundering software market are Microsoft, Intel Corporation, Fiserv, Inc., B.A.E. Systems., Wolters Kluwer N.V., Experian Information Solutions, Inc., S.A.S. Institute Inc., I.B.M., Temenos, Comarch SA., Open Text Corporation, FICO, A.C.I. Worldwide., NICE, Acuant, Inc., Featurespace Limited., Protiviti Inc., Actico GmbH , Caseware International Inc., Sanction Scanner among others.

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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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Key questions answered in the report:

How much revenue will the Europe Anti-Money Laundering Software market generate by the end of the forecast period?
Which market segment is expected to have the maximum market share?
What are the influencing factors and their impact on the Europe Anti-Money Laundering Software market?
Which regions are currently contributing the maximum share of the overall Europe Anti-Money Laundering Software market?
What indicators are likely to stimulate the Europe Anti-Money Laundering Software market?
What are the main strategies of the major players in the Europe Anti-Money Laundering Software market to expand their geographic presence?
What are the main advances in the Europe Anti-Money Laundering Software market?
How do regulatory standards affect the Europe Anti-Money Laundering Software market

Table of Content: Global Europe Anti-Money Laundering Software Market

Introduction
Market Segmentation
Executive Summary
Premium Insights
Market Overview
Global Europe Anti-Money Laundering Software Market, By Types
Global Europe Anti-Money Laundering Software Market, By Application
Global Europe Anti-Money Laundering Software Market, By End User
Global Europe Anti-Money Laundering Software Market, Company Landscape
SWOT Analysis
Company Profile
Questionnaire
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