LATIN AMERICA TRANSACTION MONITORING SOFTWARE MARKET 2020-2028

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  According to Triton, the Latin America market for transaction monitoring software is expected to proliferate with a CAGR of 15.01% during the forecast period of 2020-2028. The countries scrutinized in this market include: •         Brazil •         Mexico •         Rest of Latin America Advanced analytics has become a crucial component of data science and it uses hi-tech methods & tools to predict future trends, events, or behavior.
Banks and other financial organizations have been increasingly adopting advanced analytics to monitor high-risk activities, and this has been a key factor driving the market growth. Its adoption in transaction monitoring processes helps in detecting and monitoring specific risks, which are otherwise difficult to detect.
Thus, the use of advanced analytics in transaction monitoring is leading to the growth of the market. https://www.tritonmarketresearch.com/reports/latin-america-transaction-monitoring-software-market#request-free-sample Brazil has a dynamic, diverse, and competitive finance sector.
There are nearly 168 commercial banks in the country, with total assets amounting to approx. $349 billion and equity of approx.
$49 billion. Money laundering is an issue of grave concern in Brazil, owing to which, the national government has set up a comprehensive AML regulatory system in place.
The major sources of illegal proceeds are reported to come from crimes taking place against the financial system, tax evasion, and drug trafficking. The implementation of an anti-money laundering regime has helped in driving the country’s financial transaction monitoring market, as it helps financial regulatory bodies to exercise more control over organizations in the BFSI sector and overlook the transactions taking place.
FIS is one of the leading organizations in the FinTech industry, laying its focus on payment solutions, retail & institutional banking, outsourcing, asset & wealth management, and risk & compliance. It serves more than 20,000 clients across 130 countries.
It also offers other solutions, such as investment management & servicing and investment banking & brokerage. In January 2020, FIS announced entering into an agreement with Union Bank to deliver a next-gen core banking platform.
The company also has a business presence in Latin America, among many other regions.   The top key players in the transaction processing software market include SAS Institute Inc, Oracle, Bottomline Technologies (de) Inc, BAE Systems, Thomson Reuters, Nice Ltd, InfrasoftTech, Software AG, ACI Worldwide Inc, Dow Jones Risk & Compliance, ComplyAdvantage, Experian plc, Fiserv Inc, Fair Isaac Corporation, and FIS.
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