Abstract
Summary
The Europe anti money laundering market is expected to reach USD 4,496.17 million by 2031 from USD 865.66 million in 2023, growing at a CAGR of 24.4% during the forecast period of 2024 to 2031.
The Asia-Pacific anti money laundering market is expected to reach USD 2,309.39 million by 2031 from USD 469.58 million in 2023, growing at a CAGR of 23.5% during the forecast period of 2024 to 2031.
Market Segmentation
Europe and Asia-Pacific Anti Money Laundering Market, By Offering (Solution and Services), Function (Compliance Management, Currency Transaction Reporting, Customer Identity Management, and Transaction Monitoring), Deployment (On-Premise and Cloud), Enterprise Size (Small & Medium-Sized Enterprises and Large Enterprises), End Use (Banks & Financial Institutions and Insurance Providers), Country (U.K., Germany, France, Italy, Spain, Netherlands, Switzerland, Belgium, Russia, Turkey, Norway, Finland, Denmark, Sweden, Poland, rest of Europe, China, Japan, South Korea, India, Australia & New Zealand, Singapore, Malaysia, Taiwan, Indonesia, Thailand, Philippines, Vietnam, and rest of Asia-Pacific) - Industry Trends and Forecast to 2031
Overview of Europe and Asia-Pacific Anti Money Laundering Market Dynamics
Driver
• Increased demand for transaction monitoring systems that assess financial crime patterns
Restraint
• High complexity of AML solutions limits their ability for early detection
Opportunity
• Increasing adoption of advanced analytics in AML
Market Players
Some of the major market players operating in the Europe and Asia-Pacific anti money laundering market are listed below:
• Experian Information Solutions, Inc.
• SAS Institute Inc.
• Microsoft
• NICE
• Tata Consultancy Services Limited
• Open Text Corporation
• BAE Systems
• ACI Worldwide
• Fiserv, Inc.
• Cognizant
• Trulioo
• DIXTIOR
• WorkFusion, Inc.
• FIS
• Temenos Headquarters SA
• IBM Corporation
• Oracle
• Accenture
• FICO
• Comarch SA
• Wolters Kluwer N.V.
• LexisNexis Risk Solutions
• Jumio
• SAIGroup
• GB Group plc
• ComplyAdvantage
• SAP SE
Table of Contents
1 INTRODUCTION 25
1.1 OBJECTIVES OF THE STUDY 25
1.2 MARKET DEFINITION 25
1.3 OVERVIEW OF EUROPE & ASIA-PACIFIC ANTI-MONEY LAUNDERING MARKET 25
1.4 CURRENCY AND PRICING 26
1.5 LIMITATIONS 27
1.6 MARKETS COVERED 27
2 MARKET SEGMENTATION 30
2.1 MARKETS COVERED 30
2.2 YEARS CONSIDERED FOR THE STUDY 31
2.3 GEOGRAPHIC SCOPE 31
2.4 DBMR TRIPOD DATA VALIDATION MODEL 32
2.5 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS 36
2.6 DBMR MARKET POSITION GRID 37
2.7 DBMR MARKET POSITION GRID 38
2.8 MARKET APPLICATION COVERAGE GRID 39
2.9 MARKET APPLICATION COVERAGE GRID 40
2.10 VENDOR SHARE ANALYSIS 41
2.11 MULTIVARIATE MODELLING 42
2.12 OFFERING CURVE 43
2.13 SECONDARY SOURCES 44
2.14 ASSUMPTIONS 44
3 EXECUTIVE SUMMARY 45
4 PREMIUM INSIGHTS 48
5 MARKET OVERVIEW 50
5.1 DRIVERS 52
5.1.1 RISE IN MONEY LAUNDERING CASES ACROSS THE GLOBE 52
5.1.2 INCREASING STRINGENT REGULATIONS AND COMPLIANCE FOR AML 53
5.1.3 GROWING DEMAND FOR AML IDENTIFICATION 54
5.1.4 GROWING DEMAND FOR TRANSACTION MONITORING SYSTEMS IN THE INFORMATION TECHNOLOGY (IT) SECTOR 55
5.2 RESTRAINTS 57
5.2.1 HIGH COMPLEXITY OF AML SOLUTIONS LIMITS ITS ABILITY FOR EARLY DETECTION 57
5.2.2 DEPLOYING AML SOLUTIONS IS EXPENSIVE 57
5.2.3 RISE IN FINANCIAL CRIMES USING ADVANCED TECHNOLOGY 58
5.3 OPPORTUNITIES 59
5.3.1 INCREASING ADOPTION OF ADVANCED ANALYTICS IN AML 59
5.3.2 INTEGRATION OF AI AND ML IN DEVELOPING AML SOLUTIONS 59
5.3.3 GROWING DEMAND FOR AML SOLUTIONS IN BANKS AND FINANCIAL INSTITUTIONS 60
5.4 CHALLENGES 61
5.4.1 CONSTANTLY CHANGING REGULATION FRAMEWORK AND GUIDELINES FOR AML SOLUTION 61
5.4.2 LACK OF SKILLED AML PROFESSIONALS 62
5.4.3 INSUFFICIENCY OF ADVANCED INFORMATION TECHNOLOGY SYSTEMS TO IMPLEMENT AML SOLUTIONS 62
6 EUROPE AND ASIA-PACIFIC ANTI-MONEY LAUNDERING MARKET, BY OFFERING 64
6.1 OVERVIEW 65
6.2 SOLUTION 67
6.2.1 KYC/CDD AND WATCHLIST 68
6.2.2 CASE MANAGEMENT 68
6.2.3 REGULATORY REPORTING 68
6.2.4 TRANSACTION SCREENING AND MONITORING 68
6.3 SERVICES 69
6.3.1 PROFESSIONAL SERVICES 69
6.3.2 MANAGED SERVICES 69
7 EUROPE AND ASIA-PACIFIC ANTI-MONEY LAUNDERING MARKET, BY FUNCTION 70
7.1 OVERVIEW 71
7.2 COMPLIANCE MANAGEMENT 73
7.3 CUSTOMER IDENTITY MANAGEMENT 73
7.4 TRANSACTION MONITORING 74
7.5 CURRENCY TRANSACTION REPORTING 74
8 EUROPE AND ASIA-PACIFIC ANTI-MONEY LAUNDERING MARKET, BY DEPLOYMENT 75
8.1 OVERVIEW 76
8.2 CLOUD 78
8.3 ON-PREMISE 78
9 EUROPE AND ASIA-PACIFIC ANTI-MONEY LAUNDERING MARKET, BY ENTERPRISE SIZE 79
9.1 OVERVIEW 80
9.2 LARGE ENTERPRISES 82
9.3 SMALL & MEDIUM ENTERPRISES 82
10 EUROPE AND ASIA-PACIFIC ANTI-MONEY LAUNDERING MARKET, BY END USE 83
10.1 OVERVIEW 84
10.2 BANKS & FINANCIAL INSTITUTION 86
10.2.1 SOLUTION 87
10.2.2 SERVICE 87
10.3 INSURANCE PROVIDERS 87
10.3.1 SOLUTION 88
10.3.2 SERVICE 88
11 EUROPE & ASIA-PACIFIC ANTI MONEY LAUNDERING MARKET, BY REGION 89
11.1 EUROPE 89
11.1.1 U.K 92
11.1.2 GERMANY 94
11.1.3 FRANCE 96
11.1.4 ITALY 98
11.1.5 SPAIN 100
11.1.6 NETHERLANDS 102
11.1.7 SWITZERLAND 104
11.1.8 BELGIUM 106
11.1.9 RUSSIA 108
11.1.10 TURKEY 110
11.1.11 NORWAY 112
11.1.12 FINLAND 114
11.1.13 DENMARK 116
11.1.14 SWEDEN 118
11.1.15 POLAND 120
11.1.16 REST OF EUROPE 122
11.2 ASIA-PACIFIC 123
11.2.1 CHINA 126
11.2.2 JAPAN 128
11.2.3 SOUTH KOREA 130
11.2.4 INDIA 132
11.2.5 AUSTRALIA & NEW ZEALAND 134
11.2.6 SINGAPORE 136
11.2.7 MALAYSIA 138
11.2.8 TAIWAN 140
11.2.9 INDONESIA 142
11.2.10 THAILAND 144
11.2.11 PHILIPPINES 146
11.2.12 VIETNAM 148
11.2.13 REST OF ASIA-PACIFIC 150
12 EUROPE AND ASIA-PACIFIC ANTI-MONEY LAUNDERING MARKET: COMPANY LANDSCAPE 151
12.1 COMPANY SHARE ANALYSIS: EUROPE 151
12.2 COMPANY SHARE ANALYSIS: ASIA-PACIFIC 152
13 SWOT ANALYSIS 153
14 COMPANY PROFILE 154
14.1 ACCENTURE 154
14.1.1 COMPANY SNAPSHOT 154
14.1.2 REVENUE ANALYSIS 155
14.1.3 INDUSTRY PORTFOLIO 155
14.1.4 RECENT DEVELOPMENTS 156
14.2 ACI WORLDWIDE 158
14.2.1 COMPANY SNAPSHOT 158
14.2.2 REVENUE ANALYSIS 158
14.2.3 SOLUTION PORTFOLIO 159
14.2.4 RECENT DEVELOPMENTS 159
14.3 COGNIZANT 161
14.3.1 COMPANY SNAPSHOT 161
14.3.2 REVENUE ANALYSIS 161
14.3.3 SOLUTION PORTFOLIO 162
14.3.4 RECENT DEVELOPMENT 163
14.4 COMARCH SA 164
14.4.1 COMPANY SNAPSHOT 164
14.4.2 REVENUE ANALYSIS 164
14.4.3 SOLUTION & PRODUCT PORTFOLIO 165
14.4.4 RECENT DEVELOPMENT 165
14.5 COMPLYADVANTAGE 166
14.5.1 COMPANY SNAPSHOT 166
14.5.2 SOLUTION PORTFOLIO 166
14.5.3 RECENT DEVELOPMENT 167
14.6 EXPERIAN INFORMATION SOLUTIONS, INC. (A SUBSIDIARY OF EXPERIAN PLC) 168
14.6.1 COMPANY SNAPSHOT 168
14.6.2 REVENUE ANALYSIS 168
14.6.3 SERVICE PORTFOLIO 169
14.6.4 RECENT DEVELOPMENT 169
14.7 FIS 170
14.7.1 COMPANY SNAPSHOT 170
14.7.2 REVENUE ANALYSIS 170
14.7.3 SOLUTION PORTFOLIO 171
14.7.4 RECENT DEVELOPMENTS 172
14.8 FICO 173
14.8.1 COMPANY SNAPSHOT 173
14.8.2 REVENUE ANALYSIS 173
14.8.3 SOLUTION PORTFOLIO 174
14.8.4 RECENT DEVELOPMENT 174
14.9 FISERV, INC 176
14.9.1 COMPANY SNAPSHOT 176
14.9.2 REVENUE ANALYSIS 176
14.9.3 SOLUTION PORTFOLIO 177
14.9.4 RECENT DEVELOPMENTS 177
14.10 GB GROUP PLC (‘GBG’) 179
14.10.1 COMPANY SNAPSHOT 179
14.10.2 REVENUE ANALYSIS 179
14.10.3 PRODUCT PORTFOLIO 180
14.10.4 RECENT DEVELOPMENTS 180
14.11 IBM CORPORATION 181
14.11.1 COMPANY SNAPSHOT 181
14.11.2 REVENUE ANALYSIS 181
14.11.3 SOLUTION PORTFOLIO 182
14.11.4 RECENT DEVELOPMENT 182
14.12 JUMIO 183
14.12.1 COMPANY SNAPSHOT 183
14.12.2 PRODUCT PORTFOLIO 183
14.12.3 RECENT DEVELOPMENTS 183
14.13 LEXISNEXIS RISK SOLUTIONS 185
14.13.1 COMPANY SNAPSHOT 185
14.13.2 PRODUCT PORTFOLIO 185
14.13.3 RECENT DEVELOPMENT 186
14.14 MICROSOFT 187
14.14.1 COMPANY SNAPSHOT 187
14.14.2 REVENUE ANALYSIS 187
14.14.3 SOLUTION PORTFOLIO 188
14.14.4 RECENT DEVELOPMENT 188
14.15 NICE 189
14.15.1 COMPANY SNAPSHOT 189
14.15.2 REVENUE ANALYSIS 189
14.15.3 PRODUCT PORTFOLIO 190
14.15.4 RECENT DEVELOPMENT 190
14.16 OPEN TEXT CORPORATION 191
14.16.1 COMPANY SNAPSHOT 191
14.16.2 REVENUE ANALYSIS 191
14.16.3 INDUSTRIAL SOLUTION PORTFOLIO 192
14.16.4 RECENT DEVELOPMENT 192
14.17 ORACLE 194
14.17.1 COMPANY SNAPSHOT 194
14.17.2 REVENUE ANALYSIS 194
14.17.3 PRODUCT PORTFOLIO 195
14.17.4 RECENT DEVELOPMENTS 195
14.18 SAP SE 197
14.18.1 COMPANY SNAPSHOT 197
14.18.2 REVENUE ANALYSIS 197
14.18.3 PRODUCT PORTFOLIO 198
14.18.4 RECENT DEVELOPMENTS 199
14.19 SAS INSTITUTE INC 200
14.19.1 COMPANY SNAPSHOT 200
14.19.2 SOLUTION PORTFOLIO 200
14.19.3 RECENT DEVELOPMENTS 200
14.20 SAIGROUP 202
14.20.1 COMPANY SNAPSHOT 202
14.20.2 PRODUCT PORTFOLIO 202
14.20.3 RECENT DEVELOPMENTS 203
14.21 TATA CONSULTANCY SERVICES LIMITED 204
14.21.1 COMPANY SNAPSHOT 204
14.21.2 REVENUE ANALYSIS 204
14.21.3 PRODUCT PORTFOLIO 205
14.21.4 RECENT DEVELOPMENTS 205
14.22 TEMENOS HEADQUARTERS SA 206
14.22.1 COMPANY SNAPSHOT 206
14.22.2 REVENUE ANALYSIS 206
14.22.3 SOLUTION PORTFOLIO 207
14.22.4 RECENT DEVELOPMENTS 207
14.23 TRULIOO 209
14.23.1 COMPANY SNAPSHOT 209
14.23.2 SOLUTION PORTFOLIO 209
14.23.3 RECENT DEVELOPMENTS 211
14.24 WOLTERS KLUWER N.V 212
14.24.1 COMPANY SNAPSHOT 212
14.24.2 REVENUE ANALYSIS 212
14.24.3 SOLUTION PORTFOLIO 213
14.24.4 RECENT DEVELOPMENT 213
14.25 WORKFUSION, INC 214
14.25.1 COMPANY SNAPSHOT 214
14.25.2 SOLUTION PORTFOLIO 214
14.25.3 RECENT DEVELOPMENT 216
15 QUESTIONNAIRE 218
16 RELATED REPORTS 221