Global Anti-Money Laundering Solutions Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Anti-Money Laundering Solutions Market is Segmented by Solutions (Know Your Customer (KYC) Systems, Compliance Reporting, Transaction Monitoring, Auditing, and Reporting), Type (Software, Services), Deployment Model (On-Cloud, On-Premise), and Geography.

Market Snapshot

Anti-money laundering software market Overview
Study Period: 2019- 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 16.71 %

Need a report that reflects how COVID-19 has impacted this market and its growth?

Market Overview

The Global Anti-money Laundering market was valued at USD 2.44 billion in 2020. It is expected to reach USD 5.28 million by 2026, registering a CAGR of 16.71% during 2021-2026.

  • The increasing cases of money laundering worldwide are one of the primary factors driving the adoption of anti-money laundering solutions across enterprises. For instance, according to the United Nations Office on Drugs and Crime (UNODC) forecast, the amount of money that has been laundered globally amounts to approximately 2-5% of the global GDP.
  • In 2020, banks paid approximately USD 15.13 billion in AML fines globally. Additionally, the banks in the U.S. accounted for the highest fines from twelve violations in 2020, amounting to USD 11.11 billion.
  • Also, the study by Basel Institute on Governance reports the risk index of money laundering and terrorist financing in Benelux countries, that includes Luxembourg, Belgium, and the Netherlands) from 2016 to 2020. In 2020, Luxembourg was ranked the highest risk country in the Benelux region and ranked 92nd in the global list of 125 countries. The Netherlands and Belgium were ranked 101st and 118th, respectively.
  • COVID-19 has positively impacted market growth due to a rapid rise in online sales coupled with the increasing use of online payment solutions. A rise in non-cash payments through mobile payments, internet payments, and prepaid cards is increasing the chances of illegal money transactions in recent times. The high-speed execution of transactions coupled with minimal direct interaction between the person initiating the transaction and the service provider has amplified the vulnerability of these new payment methods to money laundering activities.

Scope of the Report

Anti-Money Laundering (AML) Solutions is a comprehensive suite of solutions to help banks and financial institutions in controlling and monitoring their financial transactions and boost customer due diligence and efficiently manage other functions to avoid prospective money laundering cases. Several solutions provided by an AML solution are Know-your-Customer System, Transaction Monitoring, Compliance Management, Auditing and Reporting, Finacial Fraud Detection & Protection, amongst many others.

By Solutions
Know Your Customer (KYC) Systems
Compliance Reporting
Transaction Monitoring
Auditing & Reporting
Other Solutions
By Type
By Deployment Model
By Geography
North America
Asia Pacific
Latin America
Middle East and Africa

Report scope can be customized per your requirements. Click here.

Key Market Trends

Transaction Monitoring Solution is Expected to Grow Significantly

  • A well-formulated transaction monitoring system is crucial for an effective anti-money laundering (AML) ecosystem. It is more profound in the post-pandemic world, where most transactions are now being performed over digital platforms.
  • Transaction monitoring software alerts when a situation violates the rules and is against the customer profile during the customer transactions. Once the software generates an alarm, the transaction monitoring process conducted by AML is automatically stopped, and the cycle continues to be executed and reviewed by the Firm's Compliance or Risk Department.
  • In the current pandemic scenario, financial institutions face an even larger challenge in AML and terrorist financing. Public firms are taking preventive measures to combat jobless people involved in money mule scams.
  • In 2020, Europol, in cooperation with the law enforcement authorities of 26 countries, launched an operation against money mule schemes across the world. Between September and November 2020, the European Money Mule Action (EMMA) resulted in the identification of 4,031 money mules, 227 money mule recruiters, and the arrest of 422 individuals worldwide. This further suggests the increasing need for transaction monitoring systems.
  • The government has also penalized several financial institutions for incompetent transaction monitoring systems. For instance, in December 2021, Financial Conduct Authority announced to have fined HSBC USD 85.16 million for failing to comply with its anti-money laundering processes. The FCA found that three key parts of HSBC's transaction monitoring system showed serious weakness over ten years.
Anti-Money Laundering Solutions Market

Asia Pacific Expected to Exhibit Maximum Growth

  • The Asia Pacific region is expected to exhibit maximum growth in the Anti-Money Laundering Solutions Market during the forecast period due to the several innovations done by the regional players coupled with initiatives taken by the regional government to heighten the security of the financial landscape of the countries in the region.
  • Companies in the region are increasingly integrating technologies, such as AI, ML, and automation, in their AML solutions to boost market growth. For instance, in March 2020, 3i Infotech Limited launched an advanced AML solution, AMLOCK Analytics, which is equipped with Artificial Intelligence (AI) and Machine Language (ML). AMLOCK Analytics uses various statistical methods and machine learning algorithms to derive analyses and predictions based on institution-specific historical data.
  • Also, several regional banks and financial institutions are collaborating with global AML solution providers to deploy their solutions, which will help them maintain compliance. For instance, in December 2019, a Taiwan-based company, Chailease, collaborated with NICE Actimize to deploy its anti-money laundering compliance platform. The solution will enable Chailease to utilize advanced analytics and machine-learning technologies and increase efficiency in maintaining regulatory compliance. Such initiatives and collaborations are expected to boost the growth of the AML market in the region.
Anti-Money Laundering Solutions Market

Competitive Landscape

The competitive landscape of the Anti-Money Laundering (AML) Solution Market is moderately fragmented owing to the presence of several solution providers globally, such as SAS Institute, NICE Ltd., Experian, BAE Systems, FICO, Refinitiv, and many more. Also, several small and medium-sized companies are emerging in the market and are raising funds, which is expected to help them create innovative solutions in the market. Also, the existing market players are forming strategic partnerships and collaborations to boost their market presence.

  • September 2021 - FICO partnered with international consulting and IT company MSG group. This partnership supports and resells FICO’s financial crime compliance and fraud products throughout Europe, the Middle East & Africa. MSG will offer consulting services to businesses using FICO Siron Anti-Financial Crime Solutions on financial crime compliance.
  • February 2021 - Experian launched a new version of its own fraud prevention platform, which is targeted at businesses that experienced high demand for digital services or were dealing with a bump in the number of online accounts.

Recent Developments

  • December 2021 - NICE Actimize strategically partnered with Spark Logic, a California-based provider of decision management systems, to augment NICE Actimize’s cloud-native  X-Sight  financial crime management platform. Sparkling Logic’s platform automates  decisions dealing with risk and compliance, reducing the time it takes to adjust to new insights gained from a range of data and market changes.
  • October 2021 - Bangkok Bank Limited (BBL) has deployed a solution under an anti-money laundering (AML) compliance program, developed together with SAS by leveraging SAS Anti-Money Laundering. This solution integrates and consolidates AML processes across Bangkok Bank Limited (BBL) 300 branches across the world.

Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.2.1 Bargaining Power of Suppliers

      2. 4.2.2 Bargaining Power of Consumers

      3. 4.2.3 Threat of New Entrants

      4. 4.2.4 Threat of Substitutes

      5. 4.2.5 Intensity of Competitive Rivalry

    3. 4.3 Detailed Assessment of the Impact of COVID-19 on the Anti-money Laundering Market


    1. 5.1 Market Drivers

      1. 5.1.1 Increased Adoption of Digital/Mobile Payment Solutions

      2. 5.1.2 Stringent Government Regulations for Compliance Management

    2. 5.2 Market Restraints

      1. 5.2.1 Lack of Skilled Professionals


    1. 6.1 By Solutions

      1. 6.1.1 Know Your Customer (KYC) Systems

      2. 6.1.2 Compliance Reporting

      3. 6.1.3 Transaction Monitoring

      4. 6.1.4 Auditing & Reporting

      5. 6.1.5 Other Solutions

    2. 6.2 By Type

      1. 6.2.1 Software

      2. 6.2.2 Services

    3. 6.3 By Deployment Model

      1. 6.3.1 On-Cloud

      2. 6.3.2 On-Premise

    4. 6.4 By Geography

      1. 6.4.1 North America

      2. 6.4.2 Europe

      3. 6.4.3 Asia Pacific

      4. 6.4.4 Latin America

      5. 6.4.5 Middle East and Africa


    1. 7.1 Company Profiles*

      1. 7.1.1 SAS Institute, Inc.

      2. 7.1.2 NICE Ltd.

      3. 7.1.3 Experian Ltd.

      4. 7.1.4 BAE Systems PLC.

      5. 7.1.5 Fair Isaac Corporation

      6. 7.1.6 ACI Worldwide, Inc.

      7. 7.1.7 Fiserv, Inc.

      8. 7.1.8 Oracle Corporation

      9. 7.1.9 Tata Consultancy Services Limited

      10. 7.1.10 Refinitiv Ltd.

      11. 7.1.11 Larsen & Toubro Infotech Limited

      12. 7.1.12 Profile Software S.A.

      13. 7.1.13 Temenos

      14. 7.1.14 FIS

      15. 7.1.15 Wolter Kluwer

      16. 7.1.16 Intellect Design Arena



*List Not Exhaustive

You can also purchase parts of this report. Do you want to check out a section wise price list?

Frequently Asked Questions

The Anti-Money Laundering Solutions Market market is studied from 2019 - 2026.

The Anti-Money Laundering Solutions Market is growing at a CAGR of 16.71% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

SAS Institute, Inc., NICE Ltd., Experian Ltd., BAE Systems PLC, Fair Isaac Corporation are the major companies operating in Anti-Money Laundering Solutions Market.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!