Financial crime software helps businesses to identify, manage, mitigate and act on the risk associated with financial crimes such as money laundering and corruption. Advanced technology is emerging which not only reshapes the finance industry but also makes it vulnerable to severe financial threats such as identity theft, cyberstalking, card skimming, and phishing. Adoption of next-generation technologies and including artificial intelligence, data science, and machine learning, to fight financial crime and frauds drive the global financial crime software market. Rapid growth in financial technologies is further propelling the market demand.
|Unit||Value (USD Million)|
|Key Companies Profiled||IBM Corporation (United States), Accenture (Ireland), Capgemini SE (France), Oracle Corporation (United States), Fiserv, Inc. (United States), SAS Institute, Inc. (United States), ACI Worldwide (United States), Fidelity National Information Services, Inc. (FIS) (United States), Dell EMC (United States) and ACI Worldwide, Inc. (United States)|
This growth is primarily driven by High Adoption of Financial Crime Software from Financial Institutions and Increasing Demand for Crime and Fraud Prevention Systems.
Globally, a noticeable market trend is evident Development of Digital Security Software’s
. Major Players, such as IBM Corporation (United States), Accenture (Ireland), Capgemini SE (France), Oracle Corporation (United States), Fiserv, Inc. (United States), SAS Institute, Inc. (United States), ACI Worldwide (United States), Fidelity National Information Services, Inc. (FIS) (United States), Dell EMC (United States) and ACI Worldwide, Inc. (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 14th February 2022, Fidelity National Information Services, Inc. acquired Payrix. The acquisition helps FIS to improve embedded payments and finance experiences for SMBs as well as enhance the company’s fast-growing e-commerce business.
On 21st April 2020, IBM and Fenergo announced the signing of an original equipment manufacturing (OEM) agreement. It will allow both companies to collaborate on solutions that can help clients address the multitude of financial risks they face. The agreement allows both companies to create solutions that combine Fenergo’s CLM offering with IBM’s RegTech portfolio of anti-money laundering (AML) and know-your-client (KYC) solutions.
- High Adoption of Financial Crime Software from Financial Institutions
- Increasing Demand for Crime and Fraud Prevention Systems
- Development of Digital Security Software’s
- Growing Fraud Related Activities in Financial Sector
- Stringent Regulations on the use of the Financial Crime Software
Rise in Financing Activities in Specialty Finance Sector and Growing Need to Protect Against Sophisticated Financial Criminals
Higher Costs Associated with the Installations of Software
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Financial Crime Software Study Sheds Light on
The Financial Crime Software Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Financial Crime Software industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Financial Crime Software industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global Financial Crime Software Market?
The Financial Crime Software market is expected to see a CAGR of % during projected year 2021 to 2027.
2. Who are the top performing companies in Financial Crime Software Market?
Top performing companies in the Global Financial Crime Software market are IBM Corporation (United States), Accenture (Ireland), Capgemini SE (France), Oracle Corporation (United States), Fiserv, Inc. (United States), SAS Institute, Inc. (United States), ACI Worldwide (United States), Fidelity National Information Services, Inc. (FIS) (United States), Dell EMC (United States) and ACI Worldwide, Inc. (United States), to name a few.
3. Which region dominated the worldwide market for Financial Crime Software in 2021?
is dominating the Financial Crime Software Market.