Europe Anti-Money Laundering Solution Market

Historic Data: 2017-2018   |   Base Year: 2019   |   Forecast Period: 2020-2027

Analysis by Component (Software and Services), Deployment Type (On-premises and Cloud), Product (Transaction Monitoring, Compliance Management, Currency Transaction Reporting, and Customer Identity Management), and Industry (Healthcare, BFSI, Retail, IT and Telecom, Government, and Others)


No. of Pages: 166    |    Report Code: TIPRE00018129    |    Category: Technology, Media and Telecommunications

Europe Anti-Money Laundering Solution Market
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Market Introduction

An anti-money laundering (AML) solution is deployed to meet the financial institutions' legal requirements for preventing and reporting the activities of money laundering. Increasing online transactions and rising concerns regarding fraudulent transactions have steered the adoption of anti-money laundering solutions across Europe. Further, supportive government regulations supplement the growth of the Europe anti-money laundering solution market to a significant extent. The adoption of anti-money laundering solutions across Europe region has increased over the years due to growing concerns for fraudulent activities and rising online transactions across various verticals. Further, growth in technological advancements, emergence of crypto-currencies, and rise in the adoption of cloud-based solutions supplement the demand for anti-money laundering solutions across Europe. A significant number of players are present in the Europe anti-money laundering solution market. Rise in partnerships and increase in product launches are driving the Europe anti-money laundering solution market. Also, other factors such as growing focus on limiting risks related to digital payment methods is also expected to drive the Europe anti-money laundering solution market.

Furthermore, in case of COVID-19, Europe is highly affected specially the UK and Russia. Businesses in the region are facing severe economic difficulties as they had either to suspend their operations or reduce their activities in a substantial manner. The member states of Europe, such as Italy, Spain, and Germany, have implemented drastic measures and travel restrictions to limit coronavirus spread among its citizens. European countries represent a major market for anti-money laundering solutions due to the adoption of cloud technologies in the BFSI sector. The region has also witnessed a growth in the number of fintech. Reporting from Financial Action Task Force (FATF) members indicates that online criminals have attempted to profit from the global pandemic through rising fraudulent activities. MONEYVAL, a permanent monitoring body of the Council of Europe, has identified challenges and policy responses to prevent money laundering. In Europe, the COVID-19 pandemic is impacting government and private sectors’ abilities to execute AML obligations.


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Europe Anti-Money Laundering Solution Strategic Insights

Strategic insights for the Europe Anti-Money Laundering Solution provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

strategic-framework/europe-anti-money-laundering-solution-market-strategic-framework.webp
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Europe Anti-Money Laundering Solution Report Scope

Report Attribute Details
Market size in 2019 US$ 435.15 Million
Market Size by 2027 US$ 1,713.02 Million
Global CAGR (2020 - 2027) 16.3 %
Historical Data 2017-2018
Forecast period 2020-2027
Segments Covered By Component
  • Software
  • Services
By Deployment Type
  • On-premises
  • Cloud
By Product
  • Transaction Monitoring
  • Compliance Management
  • Currency Transaction Reporting
  • Customer Identity Management
By Industry
  • Healthcare
  • BFSI
  • Retail
  • IT and Telecom
  • Government
Regions and Countries Covered Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Market leaders and key company profiles
  • Accenture
  • ACI WORLDWIDE, INC.
  • BAE Systems plc
  • LexisNexis Risk Solutions Group
  • Nasdaq Inc.
  • NICE Ltd.
  • Open Text Corporation
  • Oracle Corporation
  • SAS Institute Inc.
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    Europe Anti-Money Laundering Solution Regional Insights

    The geographic scope of the Europe Anti-Money Laundering Solution refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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    Market Overview and Dynamics

    The Europe anti-money laundering solution market is expected to grow from US$ 435.15 million in 2019 to US$ 1,713.02 million by 2027; it is estimated to grow at a CAGR of 16.3 % from 2020 to 2027. Rising focus of FinTech on implementing automated anti-money laundering systems is expected to accelerate the Europe anti-money laundering solution market. The growth in technological advancements across Europe is increasing the number of cyber criminals. However, FinTech firms have the potential to help banks around the Europe to stay competitive in the market. Whether tracking digital currency, machine learning, or connecting data, more robust systems combined with advances in technology has opened up possibilities in the fight against money laundering. With increasing consumer adoption and subsequent transaction volumes in competitive FinTech firms in 2019, many firms shifted to automated anti-money laundering practices. The automated anti-money laundering system provides a negligible amount of false positives compared to those generated by traditional data and technology. This reduces the adverse effects of false positives and higher operational costs. In 2020, due to the growing connection between FinTech and AML solutions, the Association of Certified Anti-Money Laundering Specialists across Europe has announced the launch of a new certification program for FinTech firms who are seeking to meet regulatory standards in a growing market. The association has developed the Certified AML FinTech Compliance Associate program. The program is built to increase the compliance toolkit of FinTech personnel working in financial crime prevention at the entry-level. Thus, increasing focus of FinTech on implementing AML solutions is propelling the Europe anti-money laundering solution market growth.

    Key Market Segments

    In terms of component, the software segment accounted for the largest share of the Europe anti-money laundering solution market in 2019. In terms of deployment type, the on-premises segment held a larger market share of the Europe anti-money laundering solution market in 2019. Similarly, in terms of product, the transaction monitoring segment held a larger market share of the Europe anti-money laundering solution market in 2019. Further, the BFSI segment held a larger share of the Europe anti-money laundering solution market based on industry in 2019.

    Major Sources and Companies Listed

    A few major primary and secondary sources referred to for preparing this report on the Europe anti-money laundering solution market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Accenture; ACI WORLDWIDE, INC.; BAE Systems plc; LexisNexis Risk Solutions Group; Nasdaq Inc.; NICE Ltd.; Open Text Corporation; Oracle Corporation; SAS Institute Inc.

    Reasons to buy report

    • To understand the Europe anti-money laundering solution market landscape and identify market segments that are most likely to guarantee a strong return
    • Stay ahead of the race by comprehending the ever-changing competitive landscape for Europe anti-money laundering solution market
    • Efficiently plan M&A and partnership deals in Europe anti-money laundering solution market by identifying market segments with the most promising probable sales
    • Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Europe anti-money laundering solution market
    • Obtain market revenue forecast for market by various segments from 2020-2027 in Europe region.

     

    Europe Anti-Money Laundering Solution Market Segmentation

    Europe Anti-Money Laundering Solution Market - By Component

    • Software
    • Services

    Europe Anti-Money Laundering Solution Market - By

    Deployment Type

    • On-Premises
    • Cloud

    Europe Anti-Money Laundering Solution Market - By

    Product

    • Transaction Monitoring
    • Compliance management
    • Currency transaction reporting
    • Customer identity management

    Europe Anti-Money Laundering Solution Market - By

    Industry

    • Healthcare
    • BFSI
    • Retail
    • IT and Telecom
    • Government
    • Others

    Europe Anti-Money Laundering Solution Market - By Country

    • France
    • Germany
    • UK
    • Italy
    • Russia
    • Rest of Europe                            

    Europe Anti-Money Laundering Solution Market - Company Profiles

    • Accenture
    • ACI WORLDWIDE, INC.
    • BAE Systems plc
    • LexisNexis Risk Solutions Group
    • Nasdaq Inc.
    • NICE Ltd.
    • Open Text Corporation
    • Oracle Corporation
    • SAS Institute Inc.  

    The List of Companies - Europe Anti-Money Laundering Solution Market

    Some of the leading companies are:

    1. Accenture
    2. ACI WORLDWIDE, INC.
    3. BAE Systems plc
    4. LexisNexis Risk Solutions Group
    5. Nasdaq Inc.
    6. NICE Ltd.
    7. Open Text Corporation
    8. Oracle Corporation
    9. SAS Institute Inc.
    Frequently Asked Questions
    How big is the Europe Anti-Money Laundering Solution Market?

    The Europe Anti-Money Laundering Solution Market is valued at US$ 435.15 Million in 2019, it is projected to reach US$ 1,713.02 Million by 2027.

    What is the CAGR for Europe Anti-Money Laundering Solution Market by (2020 - 2027)?

    As per our report Europe Anti-Money Laundering Solution Market, the market size is valued at US$ 435.15 Million in 2019, projecting it to reach US$ 1,713.02 Million by 2027. This translates to a CAGR of approximately 16.3 % during the forecast period.

    What segments are covered in this report?

    The Europe Anti-Money Laundering Solution Market report typically cover these key segments-

    • Component (Software, Services)
    • Deployment Type (On-premises, Cloud)
    • Product (Transaction Monitoring, Compliance Management, Currency Transaction Reporting, Customer Identity Management)
    • Industry (Healthcare, BFSI, Retail, IT and Telecom, Government)

    What is the historic period, base year, and forecast period taken for Europe Anti-Money Laundering Solution Market?

    The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Anti-Money Laundering Solution Market report:

  • Historic Period : 2017-2018
  • Base Year : 2019
  • Forecast Period : 2020-2027
  • Who are the major players in Europe Anti-Money Laundering Solution Market?

    The Europe Anti-Money Laundering Solution Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:

  • Accenture
  • ACI WORLDWIDE, INC.
  • BAE Systems plc
  • LexisNexis Risk Solutions Group
  • Nasdaq Inc.
  • NICE Ltd.
  • Open Text Corporation
  • Oracle Corporation
  • SAS Institute Inc.
  • Who should buy this report?

    The Europe Anti-Money Laundering Solution Market report is valuable for diverse stakeholders, including:

    • Investors: Provides insights for investment decisions pertaining to market growth, companies, or industry insights. Helps assess market attractiveness and potential returns.
    • Industry Players: Offers competitive intelligence, market sizing, and trend analysis to inform strategic planning, product development, and sales strategies.
    • Suppliers and Manufacturers: Helps understand market demand for components, materials, and services related to concerned industry.
    • Researchers and Consultants: Provides data and analysis for academic research, consulting projects, and market studies.
    • Financial Institutions: Helps assess risks and opportunities associated with financing or investing in the concerned market.

    Essentially, anyone involved in or considering involvement in the Europe Anti-Money Laundering Solution Market value chain can benefit from the information contained in a comprehensive market report.

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