According to a new market research report "Transaction Monitoring Market by Component, Application Area (AML, FDP, Compliance Management, and Customer Identity Management), Function, Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2023", published by MarketsandMarkets™, the Transaction Monitoring Market size expected to grow from USD 8.3 billion in 2018 to USD 16.8 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 15.1% during the forecast period.The key factors expected to drive the Transaction Monitoring Market include organizations’ need to manage KYC compliance, mitigate money laundering and CTF activities, and comply with stringent regulations.Browse and in-depth TOC on "Transaction Monitoring Market” 76 - Tables 40 - Figures 152 – PagesDownload PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=97024680The solution segment to hold a higher market share in 2018The transaction monitoring solution providers have added a layer to the existing financial security of organizations by offering the transaction monitoring solution.
The transaction monitoring solution is a cloud-based and on-premises solution that monitors financial transactions in real time to identify suspicious transactions.
Small and Medium-sized Enterprise (SMEs), in particular, have implemented the cloud deployment mode, as it enables them to focus on their core competencies, rather than investing their capital on network infrastructure.
The increase in the number of financial crimes; and reforms in regulatory compliances are some of the factors driving the adoption of transaction monitoring solution and services.
The research study includes an in-depth competitive analysis of the key players in the Transaction Monitoring Market, along with their company profiles, recent developments, and key market strategies.About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.
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