Anti-Money Laundering Software Market (By Component: Software, Service; By Deployment: On Cloud, On Premise; By Application: Transaction Monitoring, Customer Identity Management, Currency Transaction Reporting, Compliance Management, Others; By Solution; By End User) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032


The global anti-money laundering software market size was estimated at US$ 2.7 billion in 2022 and is expected to hit around USD 7.63 billion by 2032 with a registered CAGR of 11% from 2023 to 2032.

Anti-Money Laundering Software Market Size 2023 To 2032

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Key Takeaways:

  • By deployment mode, the on-premise segment has contributed the largest market share of over 68% in 2022.
  • By application, the transaction monitoring segment accounted for 51% market share in 2022.
  • By component, the software segment was the highest revenue holder in 2022 at about 57%.
  • North America has dominated the market with a 33% market share in 2022.
  • Asia Pacific market has contributed a market share of around 29% in 2022.

Growth Factors

The rising incidences of financial crimes, growing focus of the financial institutions on the digital payments, rising strict regulations and compliances for anti-money laundering are the major factors that are boosting the growth of the global AML software market. The growing adoption of analytics in anti-money laundering and rising focus on the integration of novel technologies such as artificial intelligence, machine learning, and big data in the development of AML software is expected to foster the demand for the AML software during the forecast period.

The strict government regulations pertaining to the non-compliance with the AML regulations may result into sanctions, monetary penalties, and reputational losses is a prominent factor that significantly drives the adoption of the AML software among the financial institutions across the globe. The Financial Industry Regulatory Authority (FINRA), Australian Transaction Reports and Analysis Centre (AUSTRAC), and China's Banking and Insurance Regulatory Commission (CBIRC) are the examples of the regulations to control the money laundering and financial crime activities. With the rising number of financial frauds, the various regulations have been implemented and amended across various nations in the globe. These regulations covers even the smallest cases of money laundering that makes the regulations complicated.

The rising adoption of the AML solutions such as KYC and CDD to ensure their customers are not involved in the any money laundering activities has boosted the demand for the AML software. As per the Comply advantage, the total AML penalties were around US$7.7 billion across the globe from January to April 2019. In the same time frame, US imposed fine of around US$947 million against Standard Chartered. The increasing monetary penalties owing to the non-compliances is bolstering the adoption of the AML software across the globe.

Report Scope of the Anti-Money Laundering Software Market

Report Coverage Details
Market Size in 2023

USD 2.98 Billion

Market Size by 2032

USD 7.63 Billion

Growth Rate from 2023 to 2032 CAGR of 11%
Base Year 2022
Forecast Period 2023 to 2032
Segments Covered Component, Deployment, Application, Solution, End User, and Geography
Companies Mentioned ACI Worldwide, Inc., Ascent Technology Consulting, Eastnets Holding Ltd., FICO TONBELLER, NICE Actimize, Regulatory DataCorp, Inc., Safe Banking Systems LLC, SAS Institute Inc., Thomson Reuters Corporation, Truth Technologies, Inc., and Verafin Inc.


Segments Insight:

Component Insights

Based on components, the global AML software market was dominated by the software segment in 2022. This growth is majorly attributed to the presence of numerous domestic and international financial institutions across the globe and increased demand for the AML software among them to meet the regulatory requirements of the government authorities. The software plays a crucial role in identifying the customers and transactions and allows the regulators to take necessary actions against any fraud. The easy availability of the AML software from various top providers has boosted the market growth. The AML software are designed to monitor transactions, manages customer identity, compliance management, and reports currency transactions that allows the financial institutions to track the money transfers and identify any financial frauds. The rising regulatory compliances and financial frauds across the globe are boosting the growth of the software segment in the global AML software market.

Anti-Money Laundering Software Market Share, By Component, 2022 (%)

Services is estimated to be the most opportunistic segment during the forecast period. The lack of skilled AML software operators has boosted the demand for the third party-service providers. Moreover, the integration of AI, ML, and big data analytics has made the software operations more complex and specialized knowledge is required to smoothly operate that software. Therefore, the demand for the services is expected to rise significantly in the forthcoming future along with the rising demands for the AML software across the globe.

Deployment Insights

Based on the deployments, the on-premise segment dominated the global AML software market in 2022. The increased demand for the safer deployment mode among the financial institutions has led to the adoption of the on-premise deployment. Moreover, the rising need to improve the control over the financial data of the customers has led to the growth of this segment. The higher security on the on-premise deployment over the on-cloud deployment is the most prominent factor that has boosted the growth of the on-premise segment across the globe.

Anti-Money Laundering Software Market Share, By Deployment, 2022 (%)

On the other hand, the on cloud is expected to be the fastest-growing segment during the forecast period. The rising need for reducing the costs associated with the setting up of servers and saving time is fueling the demand for the on-cloud deployment. Higher scalability, high flexibility, and increased efficiency are the major factors that are boosting the demand for the on-cloud deployment. However, the risks of cyberattacks and data breach associated with the on-cloud deployment is a major restraining factor.

Application Insights

On the basis of application, the transaction monitoring segment dominated the global AML software market in 2022. The increased need for regular monitoring the customer’s financial activities in real-time has led to the dominance of this segment. Transaction monitoring helps to identify any situation that violates the rules and regulations and that goes against the profile of the customers thereby reporting to the Counterfeiting the Financing of Terrorism and AML regime. The rapid adoption of the digital payment systems across the globe has boosted the demand for the transaction monitoring that helps the financial institutions to track large volumes of electronic payments. Moreover, the rising need to monitor payments, money orders, currency exchanges, withdrawals, bank transfer, and bank deposits are expected to further boost the growth of this segment during the forecast period.

Anti-Money Laundering Software Market Share, By Region, 2022 (%)

Regions Revenue Share in 2022 (%)
North America 33%
Asia Pacific 29%
Europe 24%
Latin America 8%
MEA 6%


Regional Insights

North America led the global AML software market in 2022. The growth is attributed to the robust presence of several leading AML software provider companies such as SAS Institute, Oracle Corporation, Fidelity National Information Services, and Fiserv, Inc. in North America. The rising adoption of the eBanking and mobile banking for transferring money has fueled the risks of criminal activities, which has significantly boosted the demand for the AML software among the financial institutions in North America. Moreover, the presence of several leading financial institutions in the regions along with the strict government regulations pertaining to the anti-money laundering activities has fostered the growth of the North America AML software market.

Europe is anticipated to be the most opportunistic market during the forecast period.  The stringent government regulations and higher demand for the latest technologies in the field of finance is boosting the demand for the AML software among the various financial institutions in Europe. The various regulatory developments such as General Data Protection Regulation, Anti-Money Laundering Directive 5, and Payment Card Industry Data Security Standard is boosting the market growth. Moreover, the various factors like trade-based money laundering, virtual currencies, shift towards non-banking financial institutions, and non-financial professionals are some of the factors that are driving the growth of the Europe AML software market.

Key Market Developments

  • In September 2021, FICO entered into a partnership with MSG group, an international consulting and IT company. This strategy aimed at reselling FICO’s financial crime compliance and fraud products across Europe, the Middle East & Africa. 
  • In February 2021, Experian introduced its latest version of fraud prevention solution that targets those businesses that has huge demand for digital services.

Segments Covered in the Report

(Note*: We offer report based on sub segments as well. Kindly, let us know if you are interested)

By Component

  • Software
  • Service

By Deployment

  • On Cloud
  • On Premise

By Application

  • Transaction Monitoring
  • Customer Identity Management
  • Currency Transaction Reporting
  • Compliance Management
  • Others

By Solution

  • Transactional Monitoring
  • KYC (Know Your Customer)
  • Fraud, Risk & Compliance Management
  • Watch-list Screening
  • Data Warehouse Management
  • Analytics & Visualization
  • Alert Management & Reporting
  • Case Management
  • Others

By End User

  • Retail Banking
  • Corporate Banking
  • Private Banking
  • Investment Banking
  • Asset Management
  • Insurance
  • Multiple Banking Services
  • Legal Service Providers

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

Frequently Asked Questions

What is the current size of anti-money laundering software market?
The global anti-money laundering software market size was accounted at USD 2.7 billion in 2022 and it is projected to reach around USD 7.63 billion by 2032.
What will be the CAGR of global anti-money laundering software market?
The global anti-money laundering software market is poised to grow at a CAGR of 11% from 2023 to 2032.
Who are the prominent players operating in the anti-money laundering software market?
The major players operating in the anti-money laundering software market are ACI Worldwide, Inc., Ascent Technology Consulting, Eastnets Holding Ltd., FICO TONBELLER, NICE Actimize, Regulatory DataCorp, Inc., Safe Banking Systems LLC, SAS Institute Inc., Thomson Reuters Corporation, Truth Technologies, Inc., and Verafin Inc.
Which are the driving factors of the anti-money laundering software market?
The implementation of various regulations such as The Financial Industry Regulatory Authority (FINRA), Australian Transaction Reports and Analysis Centre (AUSTRAC), and China's Banking and Insurance Regulatory Commission (CBIRC) are significantly driving the demand for the AML software among the financial and non-financial organizations that will drive the market growth during the forecast period.
Which region will lead the global anti-money laundering software market?
North America region will lead the global anti-money laundering software market during the forecast period 2023 to 2032.

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