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Transaction Monitoring Market

Market Insights on Transaction Monitoring covering sales outlook, demand forecast & up-to-date key trends

Transaction Monitoring Market : Global Industry Analysis 2016 - 2020 and Opportunity Assessment 2021 - 2031

Transaction Monitoring Market Overview

Transaction monitoring solutions can be utilized to analyze the plausibility of all transactions. It offers various benefits such as secure business applications, analysis of business cases regarding plausibility, flexible and transparent configuration of rules, and analysis of business cases and risk management system, among others.

Transaction monitoring market value is expected to reach US$ 25 Bn by 2031, at a CAGR of 15% during the forecast period 2021-2031.

What is Driving Demand for Transaction Monitoring?

Transaction monitoring solutions provide a wide range of applications such as anti-money laundering, customer identity management, fraud detection and prevention, and compliance management.

There is continuous development and implementation of new technology such as artificial intelligence (AI), Internet of Things (IOT), and robotic process automation (RPA) which holds considerable promise for overcoming money laundering, terrorist financing, fraud, market abuse, or trade misconduct. This is creating new growth opportunities for transaction monitoring solutions, in the coming years.

The market is projected to witness significant growth during the forecast period, due to several factors such as the need to manage organizational KYC compliance, use of progressive analytics to offers proactive risk alerts and mitigate money laundering, and Counter-Terrorist Financing (CTF) activities.

The solutions offers different features such as real-time transaction monitoring, detection of the unusual flow of funds over a period, identify suspicious behavior, historical profiling, account level, and minimize unnecessary alerts by tailoring scenarios and others.

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What is the impact of COVID-19 Pandemic Outbreak on Adoption of Transaction Monitoring?

The current COVID-19 pandemic has created different challenges for the authorities in charge of financing terrorism and money laundering (FT/ML). As usual, all the companies must strive for the prevention and detection of these risks promptly and carry out an analysis of the new risks derived from the COVID-19 crisis.

The growing need for monitoring customer transactions including assessing historical/current customer interactions and information to enable a complete image of customer activity is expected to propel transaction monitoring solution demand over the coming years. During the COVID-19 response, the transaction monitoring system is used for different industries to secure from money laundering and suspicious transactions activities.

U.S. and Canada Transaction Monitoring Outlook

U.S. is the largest market for transaction monitoring, owing to the strong presence of transaction monitoring software and service provider, and the increasing adoption of digital technologies in the US region. The U.S transaction monitoring market is set to tread on the historic pattern of bust and boom during the assessment period 2021-2031.

Demand is likely to remain muted in the next couple of years, as several end-use industries make a gradual recovery.

Moreover, increasing emphasis on regulating the U.S. government regarding money laundering, and terrorist financing activities, and fraud protection, is also expected to drive the U.S. market. The U.S. and Canada-based transaction monitoring providers focus on offering cost-effective cloud-based solutions across the North American market.

Nikhil Kaitwade
Principal Consultant
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South Asia & Pacific Demand Outlook for Transaction Monitoring

The adoption of a transaction monitoring solution is expected to rise considerably across small- and medium-sized enterprises in South Asia & the Pacific region.

Also, enterprises in the South Asian countries are demanding efficient systems, such as anti-money laundering software solutions to handle the AML compliance at financial institutions and other firms, which is creating new growth opportunities for the transaction monitoring in South Asia and the Pacific region. 

The financial industry is projected to show sustainable growth due to investments by multinational players such as BAE Systems, and Software AG, among others, in the country, and government initiatives to support the growth of the BFSI industry. Demand for transaction monitoring solutions is increasing in emerging countries like India, Indonesia, Malaysia and others, as they provide a proactive security measures for preventing data breaches.

Who are the Key Providers of Transaction Monitoring?

Some of the leading providers of Transaction Monitoring include

Market participants are adopting the product diversification strategy to enhance their market presence. Moreover, emerging companies are significantly investing in new product development. For instance, ACAMS launched new transaction monitoring certification for compliance professionals.

This certification sets a new global standard for compliance staff tasked with investigating, reviewing, and escalating the transactional alerts that is potentially lead to the filing of suspicious activity reports.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.

The report also maps the qualitative impact of various market factors on market segments and geographies.

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Key Segments of Transaction Monitoring Market

By Solution:

  • Transaction Monitoring Software
  • Services
    • Professional Services
      • Implementation and Integration
      • Consulting
      • Support and maintenance
    • Managed Services

By Enterprise Size:

  • Small and Medium-sized Enterprises (SMEs)
  • Large enterprises

By Application:

  • Customer Identity Management
  • Anti-Money Laundering
  • Compliance Management
  • Fraud Detection and Prevention

By Region:

  • North America
    • US
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Europe
    • UK
    • France
    • Germany
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • East Asia
    • China
    • Japan
    • South Korea
  • South Asia & Pacific
    • India
    • Thailand
    • Indonesia
    • Malaysia
    • Australia & New Zealand
    • Rest of South Asia & Pacific
  • Middle East & Africa
    • GCC Countries
    • Turkey
    • South Africa
    • Rest of Middle East and Africa 
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Nikhil Kaitwade
Principal Consultant
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Transaction Monitoring Market