Anti-Money Laundering Software Market Size, Share, Opportunities, And Trends By Type (Transaction Monitoring Software, Customer Identity Management Systems, Machine Learning For Money Laundering Detection), By Deployment (Cloud, On-premise), By End-User (Banking And Financial Services, Gaming, Government And Public Sector, Healthcare, Others), And By Geography - Forecasts From 2023 To 2028

  • Published : Apr 2023
  • Report Code : KSI061614514
  • Pages : 138

The anti-money laundering software market is projected to grow at a CAGR of 15.09% to reach US$4.086 billion in 2028 from US$1.528 billion in 2021.

The anti-money laundering (AML) software market is a subset of the software industry that provides financial institutions and other enterprises with tools for preventing, spotting, and disclosing instances of money laundering. AML software offers capabilities including customer due diligence, transaction monitoring, reporting of suspicious activities, and risk management. AML software sales have increased dramatically in recent years as a result of rising instances of money laundering and terrorism funding as well as increased regulatory pressure on financial institutions to adhere to AML guidelines. The market is also being stimulated by the rising use of digital payment systems and the rising demand for compliance process automation and efficiency.

The anti-money laundering software market is driven by the growing implementation of technology in transactions as well as increased concerns regarding cybercrimes.

Governments and regulatory organizations are emphasizing the need to stop financial crimes including money laundering and terrorism financing more and more. AML software, which aids companies in following rules and avoiding fines, is in high demand as a result of this. Effective AML solutions are now more important than ever to stop fraud and money laundering in the context of e-commerce and the growth of digital payments. More advanced AML solutions that are better able to detect and prevent financial crimes are now possible because of advancements in artificial intelligence and machine learning.

Cybercrime is on the rise, and criminals are utilizing more advanced methods of money laundering. AML software analyses a lot of data to assist firms to find and stop these activities. Internet-enabled crimes, such as those involving money laundering, showed a 69% increase in recorded incidents from 2019 to 2020, according to the FBI Crime Report. Effective AML solutions are becoming more and more necessary as global trade expands to stop the use of international trade as a means of money laundering. The World Trade Organization (WTO) estimated that the value of international trade in goods declined by 5.3% in 2020 but remained significant at US$17.3 trillion, underscoring the ongoing need for efficient AML solutions.

Recent developments in the anti-money laundering software market

  • In April 2021, ThetaRay, a major provider of big data analytics and fintech software, announced the availability of its AI-based anti-money laundering (AML) analytics on both public and private clouds, including Azure, Google, and AWS. The AML technology from ThetaRay monitors financial transactions using unsupervised machine learning, integrating data, and real-time alarm triage. ThetaRay claims that its platform assists users in lowering operational expenses and increasing income by utilizing its "artificial intuition" unique machine learning technology, which reads supervised and unsupervised data with fewer false positives.
  • In February 2023, Eventus, a provider of risk management and surveillance solutions for the financial services sector, unveiled a new product called Validus AML (VAML). VAML is an end-to-end anti-money laundering (AML) technology targeted at businesses engaged in both conventional finance and digital assets. VAML is a software-as-a-service (SaaS) that uses behavioral analytics, transaction monitoring, and sanctions monitoring to lower risks for its clients. It can offer a full range of detection, workflow, and case management capabilities to both current and prospective clients, lowering their exposure to financial and regulatory risk, revealing a range of nefarious financial actions, and reducing their dependency on third-party vendors for compliance-related chores. VAML reduces the amount of false-positive alerts using a flexible approach to AML behavior modeling and signals-based technologies.
  • In January 2023, Sandbar, an anti-money laundering, fraud, and counter-terrorism risk detection software developer, announced a US$4.8 million seed investment headed by Lachy Groom and Abstract Ventures. BoxGroup and more than 45 angel investors are some of the additional participants in the investment pool. While Sandbar continues to grow quickly after the product's public introduction, the investment is anticipated to be used to develop the product further, widen the pipeline, and provide customer support.

Based on end-user, the anti-money laundering software market is expected to witness healthy growth in the banking and financial service sector.

One of the main forces behind the market's expansion for AML software has been the banking and financial services sector. AML software solutions have been adopted by banks and other financial institutions due to the growing requirement for regulatory compliance, as well as the rise in financial crime and the usage of digital channels for financial transactions. The adoption of AML software solutions can aid in the prevention and detection of these kinds of illicit activity as the banking and financial services sector is a prime target for financial crime, including money laundering, fraud, and cybercrime.

Asia Pacific and North America accounted for major shares of the anti-money laundering software market.

Based on geography, the anti-money laundering software market is segmented into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. The North American region is anticipated to account for a sizeable portion of the AML software market owing to the presence of large companies and the strict regulatory environment in the region. AML software has a huge market in the United States, which also has the highest market share in the region and the highest demand from financial institutions.

Further, the increased acceptance of AML solutions by financial institutions, rising investments in new technologies, and the advent of new rules that strongly support AML software are all projected to contribute to the significant expansion of the European AML software market. For instance, the fifth anti-money laundering directive (AMLD5) of the European Union, which took effect in January 2020, mandates that financial institutions install stricter anti-money laundering (AML) controls.

Anti-Money Laundering Software Market Scope:


Report Metric Details
 Market Size Value in 2021 US$1.528 billion
 Market Size Value in 2028 US$4.086 billion
 Growth Rate CAGR of 15.09% from 2021 to 2028
 Base Year 2021
 Forecast Period 2023 – 2028
 Forecast Unit (Value) USD Billion
 Segments Covered Type, Deployment, End-User, and Geography
 Regions Covered North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies Covered Oracle, Eastnets, Acuant Inc., ACI Worldwide, Ondato, FICO TONBELLER, SAS, Thomson Reuters Corporation, Feedzai Inc., Sanction Scanner
 Customization Scope Free report customization with purchase


Market Segmentation:

  • By Type
    • Transaction Monitoring Software
    • Customer Identity Management Systems
    • Machine Learning for Money Laundering Detection
  • By Deployment
    • Cloud
    • On-premise
  • By End-User
    • Banking and Financial Services
    • Gaming
    • Government and Public Sector
    • Healthcare
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • United Kingdom
      • Germany
      • France
      • Spain
      • Others
    • Middle East And Africa
      • Saudi Arabia
      • Israel
      • UAE
      • Other
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Australia
      • Vietnam
      • Indonesia
      • Others

Frequently Asked Questions (FAQs)

The contract lifecycle management market is projected to reach a total market size of US$4.086 billion in 2028.
The global anti-money laundering software market is projected to grow at a CAGR of 15.09% over the forecast period.
Anti-Money Laundering Software Market was valued at US$1.528 billion in 2021.
The anti-money laundering software market is driven by the growing implementation of technology in transactions as well as increased concerns regarding cybercrimes.
Asia Pacific and North America accounted for major shares of the anti-money laundering software market.


1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline


2.1. Research Data

2.2. Research Design


3.1. Research Highlights


4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis


5.1. Introduction

5.2. Transaction Monitoring Software

5.3. Customer Identity Management Systems

5.4. Machine Learning for Money Laundering Detection


6.1. Introduction

6.2. Cloud

6.3. On-premise


7.1. Introduction

7.2. Banking and Financial Services

7.3. Gaming

7.4. Government and Public Sector

7.5. Healthcare

7.6. Others


8.1. Introduction

8.2. North America

8.2.1. USA

8.2.2. Canada

8.2.3. Mexico

8.3. South America

8.3.1. Brazil

8.3.2. Argentina

8.3.3. Others

8.4. Europe

8.4.1. United Kingdom

8.4.2. Germany

8.4.3. France

8.4.4. Spain

8.4.5. Others

8.5. Middle East And Africa

8.5.1. Saudi Arabia

8.5.2. Israel

8.5.3. UAE

8.5.4. Other

8.6. Asia Pacific

8.6.1. China

8.6.2. Japan

8.6.3. India

8.6.4. South Korea

8.6.5. Australia

8.6.6. Vietnam

8.6.7. Indonesia

8.6.8. Others


9.1. Major Players and Strategy Analysis

9.2. Emerging Players and Market Lucrativeness

9.3. Mergers, Acquisition, Agreements, and Collaborations

9.4. Vendor Competitiveness Matrix


10.1. Oracle

10.2. Eastnets

10.3. Acuant Inc.

10.4. ACI Worldwide

10.5. Ondato


10.7. SAS

10.8. Thomson Reuters Corporation

10.9. Feedzai Inc.

10.10. Sanction Scanner



Acuant Inc.

ACI Worldwide




Thomson Reuters Corporation

Feedzai Inc.

Sanction Scanner