Global spend on AML tech projected to hit $2.9 billion in 2025
Global spend on Anti-Money Laundering (AML)/ Know-Your-Customer (KYC) data & services is projected to total a record $2.9 billion in 2025, according to a new research report published today by Burton Taylor Consulting.
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Other key findings include:
• Financial institutions have stepped up their dependence on AI and machine learning to identify suspicious activity in real-time, enhancing the accuracy of threat detection.
• The growing digitization of the business challenges firms to expand their surveillance of their processes, presenting significant challenges for siloed organizations.
• Regulating agencies are enacting stricter laws for cryptocurrency, which is embraced by a larger segment of business, expanding the scope of potential financial crimes.
Perpetual KYC, which provides continuous surveillance of business transactions, raises the importance of market data needed to flag suspicious activities. Further, enhanced global collaboration is playing a larger role in the AML KYC process, with collaborative AI platforms facilitating the exchange of intelligence and insights, contributing to a more effective defense against financial crimes
'In today's digital landscape, online outlets rapidly intensify reputational damage from compliance failures. This heightened exposure has magnified the demand for comprehensive, real-time data solutions. Organizations now recognize that reputations built over decades can be devastated by a single compliance incident that goes viral.' notes Hadley Weinberger, Burton Taylor's senior analyst and author of this research.
Burton-Taylor today announced the publication of its Anti-Money Laundering/Know Your Customer Data & Services Global Market Share 2025 report. The report benchmarks the AML/KYC data & services industry, focusing on overall market sizing and industry trends. The report also examines the vendor landscape, highlighting the key capabilities of the industry's top providers with a focus on data coverage, risk screening, and due diligence solutions of each.
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