Scope of the Study
Transaction monitoring software enables banks and other financial institutions to monitor customer transactions on in real-time or daily basis for risk. By merging this information with analysis of customerís account profile and historical information, the software can offer financial institutions with a whole picture analysis of a customerís profile, risk levels, and predicted future activity. It can also generate reports as well as create alerts to suspicious activity. The transactions monitored can include cash deposits & withdrawals, wire transfers, and ACH activity.
The market study is being classified by Type (Cloud, Hybrid and On-premise), by Application (BFSI, Telecom & IT, Public Sector and Others) and major geographies with country level break-up.
ACTICO GmbH (Germany), 3I Infotech (India), ACI Worldwide (United States), Aquilan Technologies (United States), BAE Systems (United Kingdom), Oracle (United States), SAS Institute, Inc. (United States), Tata Consultancy Services (India), EastNets (United Arab Emirates) and Fair Isaac (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are FIS (United Kingdom), Fiserv (United States), Infrasoft Technologies (India), NICE Actimize (Hong Kong), Temenos (Switzerland) and Verafin & Wolters Kluwer (Canada).
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Transaction Monitoring Software market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Transaction Monitoring Software market by Type, Application and Region.
On the basis of geography, the market of Transaction Monitoring Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Organisation Size, the sub-segment i.e. SME will boost the Transaction Monitoring Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- The escalation in Money Laundering Cases
- The Rising IT Investments in Financial Institutions
- Growth in Government Initiatives toward Money Laundering
- Lack of Skilled Professionals
- Emerging Artificial Intelligence Technology in AML Solutions and Fueling Adoption of Cloud-Based Solutions
On 17 May 2018, Temenos (Switzerland), the banking software company, has expanded its leading financial crime mitigation product to include an AI-based Suspicious Activity Prevention solution protecting banks and their customers from fraud.
Key Target AudienceTransaction Monitoring Software Providers, Technology Investors, Regulatory & Government Bodies, End Users and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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