The global financial crimes software market is anticipated to grow at a significant CAGR of 9.5% during the forecast period (2021-2027). Nowadays, younger generation’s investors and users are showing interest towards digital or cashless transactions. Currently, the population across the countries are adopting digital and cashless transactions, owing to which financial sectors have been pushed to develop innovative, preventive, and efficient solutions for financial crime and fraud management. Thus, such factors is anticipated to propel the growth of the market across the globe. For Instance, in February 2021, Qatar regulator launches platform to monitor human understanding of financial crime. The digital assessment, which is available on mobile devices and laptops, results in regulating and enabling it to monitor compliance.
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The surge in adoption of advanced technologies also increases the chance of various financial threats such as identity theft, cyberstalking, card skimming, money laundering, terrorist financing, insider dealing, and phishing. As the companies are increasingly adapt to emerging technologies, such as digital wallet service Apple Pay and Near Field Communication (NFC), the likelihood of hacks and data security breaches is rising. Hence, the companies are continuously focusing on developing various digtal payment software catering to reduce the risk of cyber related frauds, which will drive the growth of the market. For instance, in November 2021, ACI Worldwide launched Network Intelligence Technology catering to combat with real-time payment frauds. The technology will enable banks and other users to send the fraud signals through machine learning tools and technology.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Financial Crimes Software Market Report Segment
By Product
- Cloud Based
- On-Premises
By Applications
- Transaction Monitoring & Reporting
- Customer Identity Management
- Others (Compliance and Currency Management)
By End-User
- BFSI
- Aerospace & Defense
- Healthcare
- IT & Telecom
- Others (Retail, Securities, and Financial Institutions)
Global Financial Crimes Software Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global financial crimes software market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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