The global transaction monitoring market is experiencing significant growth and is expected to continue expanding in the coming years. Here are the key insights from the search results:
Market Size and Growth Projections
The global transaction monitoring market is projected to be 12.30% from 2022 to 2030. The market ought to be worth USD 39.32 billion by 2030.
Transaction Monitoring Market Key Players:
- Fiserv, Inc. (US),
- SAS Institute, Inc. (US),
- IBM Corporation (US),
- FIS (US),
- Oracle Corporation (US),
- Fair Isaac Corporation (US),
- NICE Systems Ltd (Israel),
- ACI Worldwide (US),
- ACTICO GmbH (Germany),
- Bottomline Technologies (US),
- Beam Solutions, Inc. (US),
- Infrasoft Technologies (India),
- Software AG (Germany),
- Experian Information Solutions, Inc. (Ireland), and
- BAE Systems (UK).
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Market Drivers and Industry Impact
Transaction monitoring is the management, inspection, and analysis of completed transactions on business applications or information systems. Financial regulators worldwide are beginning to make transaction monitoring a legal necessity, leading to increased adoption of transaction monitoring solutions.
The market is driven by the increasing need for robust monitoring solutions to detect and prevent real-time money laundering, fraud, and other illicit activities, as well as the rising online financial activities that have amplified the risk of financial crimes.
The market is also influenced by the increasing digitization of payments, the need for mitigating money laundering, managing KYC compliance, and Counter-Terrorist Financing (CTF) activities, and the emphasis on customer experience and advances in data analytics and artificial intelligence (AI).
Market Segmentation and Regional Insights
The market is segmented based on components, function, deployment model, organization size, application area, and end-user industry. It covers various segments such as solutions, services, case management, KYC/customer onboarding, dashboard and reporting, watch list screening, and application areas including anti-money laundering, customer identity management, fraud detection and prevention, and compliance management.
North America, followed by Europe, is expected to become the largest revenue-generating region for transaction monitoring solution and service vendors, with North America leading the market.
In summary, the transaction monitoring market is witnessing substantial growth driven by the increasing need for compliance with regulations, the rising risk of financial crimes due to digitization, and the emphasis on real-time detection and prevention of illicit activities. The market is expected to continue its rapid expansion, with significant contributions from various regions and a wide range of industry segments.
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