Market Size of Asia Pacific Anti Money Laundering Solutions
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 10.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Anti Money Laundering Solutions Market Analysis
The Anti-money laundering solutions market in the Asia-Pacific region is expected to exhibit maximum growth over the next few years due to the several innovations done by the regional players and initiatives taken by the regional government to heighten the security of the financial landscape of the countries in the region.
COVID-19 has positively impacted market growth due to a rapid rise in online sales and 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.
Companies are increasingly integrating technologies, such as AI, ML, and automation, in their AML solutions to boost the market growth. For instance, 3i Infotech Limited launched an advanced AML solution, AMLOCK Analytics, 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.
Several regional banks and financial institutions are collaborating with global AML solution providers to deploy their solutions, which will help them maintain compliance.
