Report Overview
Get the 2024 Link Index for Anti-Money Laundering Transaction Monitoring for Financial Services and Fintechs, an annual report that assesses solution providers against buyer demand for capabilities and key purchasing criteria, including a ranking of the vendors in the market.
As financial institutions continue to undergo significant digital transformations, they increasingly rely on AML transaction monitoring as a vital compliance tool to effectively manage and combat money laundering and terrorist financing with advanced technology. However, these compliance programs, often seen as cost centers, require substantial financial and time resources, presenting a significant challenge in balancing expenditure with the need for demonstrable compliance through rigorous audits.
Leading AML transaction monitoring providers are innovating with automated monitoring capabilities, user-friendly case management systems, and scalable cloud deployments to address these issues. The benefits of these leading solutions include significantly reducing false positive alerts and manual review times, streamlined management and regulatory e-filing of Suspicious Activity Reports (SARs), and a substantial return on investment.
The vendor landscape in the AML transaction monitoring market is diverse, comprising large incumbents that serve major global financial institutions and dominate the market. These are complemented by challenger platforms focusing on extensive automation, AI-driven alert generation, and integrated solutions combining fraud and anti-money laundering (FRAML) functionalities.
Liminal’s Link Index for Anti-Money Laundering Transaction Monitoring for Financial Services and Fintechs evaluated 70 vendors. It only identified 18 vendors providing solutions that meet buyer’s in-demand product capabilities and market presence. These companies offer automated monitoring capabilities, user-friendly case management systems, and scalable cloud deployments, setting them apart for meeting in-demand product capabilities.
What’s inside the report
- Market Overview and Vendor Landscape
- Survey Results for Buyer Demands and Must-Have Product Features
- Assessment Criteria for Product Capability Strength and Market Presence
- Vendor Position on the Link Index for AML Transaction Monitoring in Financial Services and Fintechs
- Detailed Company Profiles and Product Information for the Leading Vendors
What the reader will learn
- Trends and insights into the landscape of AML and fraud and the regulatory environment.
- Challenges and opportunities for banks and fintech in adopting advanced solutions.
- How vendors are meeting the demand for AML capabilities.
- An in-depth market analysis and vendor landscape covering market demand, buyer preferences, market challenges, and a ranking of leading solution providers.
- Visualize and compare market trends and the relative positions of solution provider performance across dimensions for product execution and strategy thresholds.
- Where each vendor is positioned on the Link Index for AML Transaction Monitoring for Financial Services and Fintechs.
- Detailed company profiles and product details for the top 18 market players, providing insights into their strengths, gaps, and market positions.
View the Link Index for insights you can use to gain a strategic competitive advantage with the actionable market intelligence you need to drive business outcomes:
About Link Index for AML Transaction Monitoring for Financial Institutions and Fintechs
The Link Index offers a detailed analysis and ranking of AML Transaction Monitoring solutions, utilizing data from Liminal’s competitive intelligence platform, Link™. It evaluates vendors’ capabilities, such as automated monitoring, CTR and SAR filing, and sanctions screening. Of 70 companies analyzed, 41 met stringent criteria, with 18 recognized as Leading Vendors for integrating compliance and anti-fraud efforts. Liminal uses a proprietary framework to assess vendors based on market needs, inviting them to participate in surveys and analyst briefings. The Link Index, grounded in the Liminal Landscape™ taxonomy, precisely evaluates solutions by buyer demand, product capability, and market presence.
Profiles of the top 18 vendors leading in this market include Alloy, AML Partners, brighterion, Comply Advantage, CSI, Feature Space, Feedzai, Fenergo, GlobalVisionSystems, HAWK:AI, NICE Actimize, Oracle, Quantexa, SAS, SymphonyAI, Thetaray, Unit21, Verafin.
For complete results, including company profiles, product details, and an interactive database that can be sorted by industry, use case, and other criteria, go to Link™.
Methodology
The Link Index offers a detailed analysis and ranking of leading vendors for specific use cases, leveraging robust data and insights from Liminal’s market and competitive intelligence platform, Link. Liminal’s research team invites solution providers to participate in a company survey and analyst briefing. It uses a proprietary framework to assess and rank product capabilities based on their relevance to market needs. Liminal’s Digital Identity Landscape taxonomy and ontology are central to the Link Index, which precisely evaluates vendor solutions by buyer demand, product capability, and market presence. Liminal conducts a rigorous survey among buyers in the vendor selection process to identify the most in-demand product capabilities and the most valued product components. Market presence criteria included buyer satisfaction, market penetration, and brand recognition. The Link Index was designed to be used to inform go-to-market strategy and execution and provide guidance for solution buyers, specifically:
- Executives in corporate strategy
- Leaders of go-to-market execution
- Practitioners of solution implementation
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