July 2011: Trends in Anti-Money Laundering 2011 (Celent report)

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Executive Summary

This report incorporates the results of an exclusive Celent survey of anti-money laundering compliance departments at more than 75 financial institutions globally. The report benchmarks AML operations and costs, and analyzes trends in AML technology, including Celent’s estimates of global spending on AML software, vendor consolidation, and advances / product enhancements in AML technology. The report also examines the emerging trend towards enterprisewide compliance, in terms of consolidation of siloed AML operations and technology, as well as integration of AML and anti-fraud.

This is the first in a series of four reports covering the current state of the AML technology market. The other reports in the series are:

  • Evaluating the Enterprisewide Compliance Vendors 2011: Solutions for Anti-Money Laundering and Anti-Fraud, which profiles more than 20 providers of end-to-end AML/fraud solutions, and assesses them using Celent’s ABCD evaluation model.
  • Evaluating the Vendors of Watchlist and Sanctions Solutions, which profiles providers of both batch-based and real time OFAC/sanctions watchlist solutions and assesses them using Celent’s ABCD evaluation model.
  • Specialist Providers of Anti-Money Laundering Technology presents an overview of advanced technology issues in AML and provides profiles of a variety of specialist vendors. Because these firms are working in different areas, an ABCD evaluation is not provided.

Copyright 2011 © Celent, a division of Oliver Wyman, Inc.
Detailed report can be accessed by the Celent clients:  click here

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As a complimentary and free download from the Fiserv website: click here