Report: Global Anti-money Laundering Vendor Evaluation

A new report from Aite Group, based on interviews with 18 global anti-money laundering (AML) compliance vendors and 36 financial institutions, gauges the state of the AML market. The report includes an overview of the regulatory environment, which is driving global interest in AML solutions, and outlines the critical components of AML solutions. It also profiles 18 AML solution vendors.

AML technology has enjoyed a fresh wave of demand across the globe over the last few years, driven by the convergence of increased regulation, high-profile regulatory enforcement actions, and next-generation technologies that address AML and fraud management needs across the enterprise. As a result of the converging drivers, the global AML transaction-monitoring software market is growing at a healthy pace – one that will continue for the next few years. The US$450m global AML software market will grow at a compound annual growth rate (CAGR) of 9%, reaching US$690m in 2015.

“As demand for AML solutions increases globally and technology options increase, financial institutions must be careful to select the best solution for their unique needs,” said Julie Conroy McNelley, senior analyst with Aite Group and author of this report. “Financial institutions must ensure that their vendor solution can offer comprehensive rule sets to cover the AML typologies and scenarios required by regulators, and that those rule sets are easy to tailor for each country in which the financial institution has a presence.”

The report profiles the following leading AML solutions providers: 3i-Infotech, Accuity, ACI Worldwide, EastNets, Experian, FIS, Fircosoft, Fiserv, Jack Henry, LexisNexis, Logica, Memento, NICE Actimize, Norkom Technologies (now Detica NetReveal), SAS Institute, SunGard, Tata Consultancy Services, Temenos, and Wolters Kluwer. Vendors receiving best-in-class mentions include Accuity, Fiserv, NICE Actimize, Norkom/Detica, and SAS.


Related reading

New consumer banking head for Citi Asia Pacific