Global Financial Crime and Fraud Management Solutions MarketPosted by shankar on February 7th, 2020 Global Financial Crime and Fraud Management Solutions Market was XX US$ Bn in 2019 and is expected to reach XX US$ XX Bn by 2026, at a CAGR of XX% during the forecast period. Global Financial Crime and Fraud Management Solutions Market Globally, financial institutions have spent .28 trillion in a 12 month period to combat financial crime. Impact on business is significant, with combined revenue lost due to financial crime estimated to be .45 trillion in the same time period. Financial crime is big business – and it’s not something that organizations can turn a blind eye to. You only have to look at the recent Westpac saga in Australia to see how financial crime and its implications can be severely damaging for not just financial organizations, but also their customers. The global market growth is provident concerning unjustified crime and concept of financial crime, which is changing constantly, in contexts of social and technical aspects surrounding financial transaction. Financial crime is listed in large sectors like fraud, tax evasion, embezzlement, forgery, counterfeiting, and identity theft. The main method by which officials currently combat financial crime is extensive monitoring through the use of technology. Market Drivers, Restrains and Market Segmentation Global financial crime and fraud management solutions market is obliged to foresee increasing capital in digital banking services and cashless transactions. This popularity of financial crime and fraud management solution is mandatory owing to great losses in sectors where involvement of money and business come into play. Big capital and companies are facing 60% to 70% loss because of fraud and other crimes. The report covers insights like detail study of different ways in which hardware, software and service are changing the facts and making a dynamic market around the globe. Business use verity of fraud recognition and protection methods as rely on passwords around the globe. New ways of crime in hardware, which has opened the market for better technology i.e., advanced biometrics. Consumers trust is most important in global financial crime and fraud management solution market. Software segment is expecting 45% to 50% demand in banking, private, government and others in forecast period. In service sector like BPO, KPO and outsourcing companies need advanced fraud detection and mitigation technology. Survey of countries around the globe results in demand, where more than average 66.36% of end-users feel protected by using fraud detection technology. Report covers recent knowledge on the developments in financial crime and fraud management solutions, and how technology is becoming the biggest catalyst for market players. Based on end-user Global Financial Crime and Fraud Management Solutions Market is oriented into Banks, Specialty Finance, Credit unions, Thrifts and Others. Banks and corporate business segment is expected to manifest highest market share during forecast period to avoid damage for financial frauds and crimes. This report can arm decision-makers with value-based information to meet the dynamic needs of various end users, and eventually upmarket their position in this highly-competitive industry. Global Financial Crime and Fraud Management Solutions Market1 However, the startup infrastructure to financial crime and fraud management solution is relatively high, as it needs to be integrated with conventional system of banking and financial institution or with government projects. It may hamper productivity during initial stage, as it might take time to adapt to these solutions. Many areas to cover and concentrate, such facts and factors are expected to restrain the market growth during forecast period. Regional Analysis: Geographically, Global financial crime and fraud solutions market is directed into APAC, North America, Europe, MEA and Africa. If we consider the world population and increasing youth population in APAC, which eventually lead the market with XX % CAGR during forecast period, as it holds more than half of the world’s population and dominant key player in demand of financial crime and fraud management solutions. Also developing countries are experiencing huge amount of foreign investments, which led to develop infrastructure to reduce financial crime and frauds. Victims rage from individual, corporation, thus affecting entire society. By segmentation report targets 80% of big corporation and individual suffered from effect of serious financial crimes in 2018 and forecast the benefits of global financial crime and fraud management solutions market. The objective of the report is to present a comprehensive analysis of the Global Financial Crime and Fraud Management Solutions Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by Vehicle. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by Vehicle on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Financial Crime and Fraud Management Solutions Market dynamics, structure by analyzing the market segments and project the Global Financial Crime and Fraud Management Solutions Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Financial Crime and Fraud Management Solutions Market make the report investor’s guide. Global Financial Crime and Fraud Management Solutions Market Segmentation by application. • Hardware • Banks • APAC • IBM Corporation Like it? Share it! More by this author |