A new study by Juniper Research has highlighted a significant surge in global investment in Anti-money Laundering (AML) systems, with spending expected to reach $51.7 billion by 2028, marking an 80% increase from $28.7 billion in 2024. This growth is largely fueled by the integration of Artificial Intelligence (AI) to enhance the efficiency of AML operations by reducing false positives and improving risk assessment.
The research underscores the pivotal role of AI in modernizing AML systems. By serving as an assistive co-pilot to AML analysts, AI technologies are making substantial strides in minimizing the occurrence of false positives, thereby streamlining the risk assessment process. This AI-assisted approach is anticipated to remain popular, given ongoing regulatory concerns about the transparency of fully automated decisions made by AI.
Expanding AML Efforts Beyond Financial Sectors
Juniper Research also notes that AML system providers are broadening their horizons, venturing beyond traditional financial markets to serve industries like legal, real estate, and non-profits. By 2028, expenditure on AML systems in these sectors is projected to hit $6.3 billion globally, representing a 170% increase from 2024. This expansion necessitates AML vendors to customize their offerings and forge partnerships tailored to these emerging markets.
The study advises AML system providers to extend their collaboration with data providers to encompass various sectors, including gambling and professional services. Such strategic partnerships would empower compliance teams across a wider array of markets to efficiently identify and mitigate high-risk transactions or customer relationships, thereby curbing the impact of financial crime.
Juniper Research’s analysis of the AML systems market offers insights into over 26,720 data points across 60 countries over five years, providing research into the current and future landscape of AML technologies.
