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Anti-Money Laundering Software Market Size, Share & Industry Analysis, By Type (Standalone and Integrated), By Enterprise Type (SMEs and Large Enterprise), By Deployment (On-premise and Cloud), By End-user (Banks and Neobank, Insurance, Investment, Crypto, and Others), and Regional Forecast, 2024-2032

Last Updated: July 01, 2024 | Format: PDF | Report ID: FBI107106



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The global anti-money laundering software market size was valued at USD 2.04 billion in 2023. The market is projected to grow from USD 2.28 billion in 2024 to USD 5.91 billion by 2032, exhibiting a CAGR of 12.6% during the forecast period.

Anti-Money Laundering (AML) software offers assistance to regulated organizations and financial institutions to prevent, report, and detect money laundering related misconducts in compliance with the requirements from financial regulators. This software uses the information from various solutions for managing financial transactions such as accounting software and ERP systems.

The global anti-money laundering software market growth can be attributed to several factors such as technological development of solutions for robust detection and rising importance of transaction monitoring among consumers. In addition, growth in IT spending, focus of financial institutions on digital payment related issues, and flow of investments by enterprises positively affect the global market.

During the COVID-19 pandemic, many financial service firms faced a remarkable increase in identity fraud through ransomware, synthetic identity, mobile device attacks, and other threats, which led to significant financial losses, hindering anti-money laundering software growth for a short period. As the years progressed, the market witnessed a rise in funding and investments that helped companies to develop solutions that minimized the adverse effects of money laundering by offering cutting-edge technology.

Anti-Money Laundering Software Market Trends

Growing Adoption of Real-time Transactions Monitoring and RegTech Automation Acts as a Key Trend

Real-time transaction monitoring analyzes customer transactions and behavior that involves the investigation of previous and current customer data and interactions to provide a complete picture of their activity in real-time. Transaction monitoring feature of anti-money laundering software enables organizations to detect financial crimes before they occur or at an early stage. The adoption of real-time transaction monitoring in anti-money laundering helps financial institutions to detect potential instances of financial crime and intervene by preventing it from occurring at the point in time. For instance,

  • In November 2022, ClearBank announced a partnership with ThetaRay, a fintech software and Big Data analytics solution provider, to change its AML monitoring operations to a fully cloud-native program with ThetaRay’s SONAR (SaaS) AML solution.

Similarly, RegTech (Regulatory Technology) offers banks and other financial institutions access to intelligent tools and processes that automate data collection, analysis, and visualization. RegTech assists banks to onboard customers faster, more effectively and with less customer contact. The emergence of AI RegTech solutions in the banking system is likely to surge the demand for anti-money laundering software in the coming years. For instance,

  • In October 2022, RegTech firm, Salv deployed its AML solutions into Tuum, an API-first and modular core banking platform. Tuum will deploy anti-money laundering management software to help the customers to quickly carry out an AML platform with risk-scoring solutions and advanced monitoring screening.

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Anti-Money Laundering Software Market Growth Factors

The Need for AML Software for Crypto Industry Ensures Market Growth

Governments, businesses, and even some private citizens have preferred cryptocurrency as an investment option. Decentralization in cryptocurrency offers significant regulatory challenges. Money laundering heavily impacts the crypto ecosystem. As the market progresses, the crime volume associated with it also increases. As the market expands, so does the crime volume. According to a Web3 security company, De.FI, the total value hacked in cryptocurrency reached over USD 2 billion in 2023.

Thus, to combat this situation, regulators came up with new regulations. Anti-money laundering software is a major solution to this issue. Regardless of the future of the crypto market, regulations are required.

Thus, anti-money laundering tools help maintain a clean cryptocurrency ecosystem, providing regulated, repeatable ways to prevent financial crime. Thus, as the cryptocurrency market progresses, the demand for anti-money laundering tools increases respectively.


High Cost and Operational Process to Hinder the Market Growth

High costs related with the deployment of software and complications associated with it are limiting the ability of early detection of fraudulent activities. Adapting practices to new and sometimes untested systems or technology solutions creates operational challenges.

Also, small & medium sized fintech companies often lack internal capacity or assurance to estimate the effectiveness of advanced solutions among a wide growing range of competing vendors and products, thereby creating major challenges in operating the solutions.

Thus, the aforementioned factors may hamper the market growth.

Anti-Money Laundering Software Market Segmentation Analysis

By Type Analysis

Implementation of Integrated Software among Organizations to Propel Market Growth

In terms of type, the market has been studied across standalone and integrated.

Integrated segment is expected to hold the maximum market share during the forecast period. Integrated software is expected to grow as it combines multiple solutions such as audit management, regulatory change management, and anti-money laundering software into one suite. Adopting the integrated software will help financial institutions to modify their methodology in managing risks to meet the demands of the evolving financial corporate standards.

  • In November 2022, Alexander Hall, a mortgage broker firm, integrated 360 Lifecycle’s AML and electronic verification solutions to allow mortgage advisers to record and identify clients automatically and meet anti-money laundering requirements.

By Enterprise Type Analysis

Adoption of Software in SMEs for Business Growth to Create Growth Opportunities for the Market

Based on enterprise type, the market is divided into large enterprise and small & medium-sized enterprises.

Small & medium enterprises segment is expected to grow with maximum CAGR during the forecast period due to major focus on customer experience and funding on solutions. For instance,

  • In November2022, MeridianLink acquired OpenClose, a fintech provider of residential mortgage software solutions, to provide digital lending experiences to its consumers.

Whereas, the large enterprise segment is expected to hold major market share due to increased demand for API deployment to improve scalability and agility as well as avoid risks.

By Deployment Analysis

Deployment of Cloud Model for Better Productivity to Boost the Market Growth

In terms of deployment, the market is bifurcated into cloud and on-premise.

The cloud segment held the largest share in 2023 and is anticipated to grow with the highest CAGR during the projection period. Cloud-based model is expected to grow due to increased efficiency and low costs of building an IT infrastructure. Also, cloud-native software provides businesses with new tools in the counter against financial crime. Additionally, the software as a service approach enables better scalability, efficiency, and price flexibility.

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By End-user Analysis

Adoption of the Software by Bank and Neobanks for Risk Prevention Fuels the Market Growth

In terms of end-user, the market is classified into bank and neobanks, insurance, investment, crypto, and others.

The bank and neobanks segment led the market in 2023 and is anticipated to grow significantly during the projection period. The banking industry growth is attributed to the growing adoption of software for identifying the risks and fulfilling AML obligations.

Additionally, technological alterations in financial organizations and the surge of e-payments increased the demand for more customer identity protection. Also, due to stringent directives, financial institutions and banks are adopting AI based AML solutions to deploy AML compliance with greater effectiveness.

In the coming years, crypto is expected to grow with the highest CAGR during the forecast period. The need for AML software across the industry drives segmental growth.


Geographically, the market is divided into five major regions, North America, South America, Europe, the Middle East & Africa, and Asia Pacific.

North America Anti-Money Laundering Software Market Size, 2023 (USD Billion)

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North America held the highest market share in 2023 and is expected to continue its dominance during the forecast period. It is expected to grow due to technological advancement, high number of end-users, and increase of growth strategies among major anti-money laundering software players. Adoption of AML software in the Banking, Financial Services, and Insurance (BFSI) industry in the U.S will likely increase the demand for AML software. For instance,

  • In October 2022, Finastra announced that Delta National Bank & Trust Company (Delta Bank) has selected real-time compliance screening, Anti-Money Laundering (AML), and Know Your Customer (KYC) solutions through Finastra’s Fincom app for modernizing its digital banking infrastructure and delivering better experiences to private banking clients.

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The Europe anti-money laundering software market share is expected to witness significant growth during the forecast period due to early adoption of new technologies, continuous developments, and new stringent data privacy laws such as AMLA, AMLD6, and AMLR. Also, funding to organizations by the U.K. government for innovation of the product may propel the market growth. For instance,  

  • In April 2022, Featurespace, a financial crime tech firm, received funding from the U.S. and the U.K. governments to advance an AI-powered system for banks and payments service providers to detect application fraud, cross-border money laundering while protecting data privacy.

Asia Pacific is expected to show expanding growth during the forecast period. Developing nations in the region, such as India and Thailand, are making substantial developments toward digitization and facilitating robust banking solutions for national transactions security for regional banks and financial institutions. Similarly, growth in investments in countries, including South Korea, Southeast Asia, Oceania, and others to bring digital transformation across the countries is likely to fuel the adoption of anti-money laundering software.

The market will show moderate growth across the Middle East & Africa due to rising investments for the transformation of the economy digitally.

South America will show growth opportunities due new AML regulations and deployment of new technologies in AML compliance. Rise in money laundering cases and demand for AML solutions are projected to accelerate the market growth in South America. For instance, according to the FATF report, Brazil will show progress on financial intelligence in criminal investigations. In January 2020, the Central Bank of Brazil improved AML compliance regulations to maximize anti-money laundering systems with advanced analytics.

List of Key Companies in Anti-Money Laundering Software Market

Market Players to Drive Merger and Acquisition Strategies to Expand their Presence

The prominent anti-money laundering software players are focusing on expanding their global presence through merger and acquisition strategies. Additionally, key players are investing on the software to leverage AI and machine learning technologies for development and enhancing operational efficiency. The companies are aiming to acquire small and local firms to expand their business presence. For instance,

In August 2022, Ondato partnered with Hawk AI, a money-laundering detection & investigation platform, by offering an integrated KYC validation process combined with AML transaction monitoring and behavioral analytics suite.

List of Key Companies Profiled:


  • November 2022 - Sanction Scanner collaborated with Coinfirm, a blockchain investigations and analytics, to implement compliance knowledge and traditional finance ecosystems. This partnership will ensure the customers can scan and monitor transactions mediated by their companies both for crypto assets and sanctioned money.

  • October 2022 - Ondato partnered with Radix Compliance, a Malta-based company that will be focusing on providing KYC and AML outsourcing. Radix Compliance will deploy Ondato’s automated onboarding abilities to simplify business procedures and produce safer services to its clients.

  • July 2022- Acuant announced a collaboration with ServiceNow, a financial services provider, to provide customers with seamless online identity verification, Anti-Money Laundering (AML), Know Your Business (KYB), Know Your Customer (KYC), and regulatory compliance in one solution.

  • April 2021 – Oracle partnered with Duality Technologies, a privacy-enhancing technologies company, to integrate Duality's abilities with Oracle's Financial Crime and Compliance Management product suite to ensure compliance with global privacy guidelines and protect sensitive data.

  • January 2021 – Tier1 Financial Solutions, a relationship management software for investment banking and capital markets, announced the acquisition of Alessa for transforming digital processes within organizations for regulatory compliance, greater client insights, revenue protection, and AI-driven automation.


An Infographic Representation of Anti-Money Laundering Software Market

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The research report provides a detailed analysis of the market. It focuses on key points such as leading companies, software types, and leading applications of the software and services. Besides this, the report offers understandings into the AML software market trends and highlights key industry developments. In addition to the above mentioned factors, the report contains several factors that have contributed to the growth of the market in recent years.

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Report Scope & Segmentation



Study Period


Base Year


Estimated Year


Forecast Period


Historical Period


Growth Rate

CAGR of 12.6% from 2024 to 2032


Value (USD Billion)














By Type

  • Standalone

  • Integrated

By Enterprise Type

  • SMEs

  • Large Enterprise

By Deployment

  • On-premise

  • Cloud

By End-user

  • Banks and Neobank

  • Insurance

  • Investment

  • Crypto

  • Others (Healthcare, Government, etc.)

By Region

  • North America (By Type, By Enterprise Type, By Deployment, By End-user, and By Country)

    • United States (By Deployment)

    • Canada (By Deployment)

    • Mexico (By Deployment)

  • South America (By Type, By Enterprise Type, By Deployment, By End-user, and By Country)

    • Brazil (By Deployment)

    • Argentina (By Deployment)

    • Rest of South America

  • Europe (By Type, By Enterprise Type, By Deployment, By End-user, and By Country)

    • United Kingdom (By Deployment)

    • Germany (By Deployment)

    • France (By Deployment)

    • Italy (By Deployment)

    • Spain (By Deployment)

    • Russia (By Deployment)

    • Benelux (By Deployment)

    • Nordics (By Deployment)

    • Rest of Europe

  • Middle East & Africa (By Type, By Enterprise Type, By Deployment, By End-user, and By Country)

    • Turkey (By Deployment)

    • Israel (By Deployment)

    • GCC (By Deployment)

    • North Africa (By Deployment)

    • South Africa (By Deployment)

    • Rest of Middle East & Africa

  • Asia Pacific (By Type, By Enterprise Type, By Deployment, By End-user, and By Country)

    • China (By Deployment)

    • India (By Deployment)

    • Japan (By Deployment)

    • South Korea (By Deployment)

    • ASEAN (By Deployment)

    • Oceania (By Deployment)

    • Rest of Asia Pacific

Frequently Asked Questions

The market is projected to reach USD 5.91 billion by 2032.

In 2023, the market was valued at USD 2.04 billion.

The market is projected to grow at a CAGR of 12.6% during the forecast period.

The banks and neobanks segment led the market in 2023.

The need for AML software for crypto industry ensures market growth.

Oracle, ACI Worldwide, Eastnets, AML Partners, Alessa, Acuant, Inc., Feedzai, SAS Institute Inc., Ondato, and Sanction Scanner are the top players in the global market.

North America held the highest market share in 2023.

By end user, crypto is expected to grow with a highest CAGR during the forecast period.

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