Market Share of Anti-Money Laundering Solutions Industry
The anti money laundering solutions market is fragmented, with the presence of major players like SAS Institute Inc., NICE Actimize (Nice Ltd), Experian Information Solutions Inc. (Experian Ltd), Symphony Innovation LLC, and Fair Isaac Corporation (FICO). Players in the market are adopting strategies, such as partnerships and acquisitions, to enhance their product offerings and gain sustainable competitive advantage.
- July 2023: Profile, a financial solutions provider, extended the term of its contract with Allica Bank, which has been based on a strong relationship and fruitful collaboration between the two parties. Allica Bank recently exceeded ~USD 2.53 billion in deposits alongside more than ~USD 1.26 billion in lending on the platform, becoming one of the major UK fintechs to achieve profitability in 2022.
- June 2023: Google Cloud launched its anti-money laundering AI (AML AI), an artificial intelligence (AI)-powered product to help global financial institutions detect money laundering. Google Cloud's AML AI provides a consolidated machine learning (ML)-generated customer risk score. The product can deliver accurate results, which increases overall program effectiveness and improves operational efficiency.
Anti-Money Laundering Solutions Market Leaders
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SAS Institute, Inc.
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NICE Actimize (Nice Ltd)
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Experian Information Solutions Inc. (Experian Ltd)
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Symphony Innovation LLC
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Fair Isaac Corporation (FICO)
*Disclaimer: Major Players sorted in no particular order
