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The global AML market size is expected to grow from an estimated value of USD 2.8 billion in 2022 to USD 5.8 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 15.9% from 2022 to 2027

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Reportlinker.com announces the release of the report “Anti-money Laundering Market by Component, Solution, Organization Size, Deployment Mode, End User & Region – Global Forecast to 2027” – https://www.reportlinker.com/p05815011/?utm_source=GNW.

However, lack of skilled AML professionals with in-depth knowledge and lack of awareness related to government regulations and deployment of AML solutions are expected to hinder the market growth.

  • By Solutions, Insurance to grow at the highest CAGR during the forecasted period

Insurance includes life insurance, health insurance, travel insurance, corporate insurance, and vehicle insurance. Insurance firms offer flexible policies and investment products and services.

These products and services allow customers to deposit and withdraw a large amount of money in terms of cash. These flexible offerings and the massive flow of funds in the Life Insurance business has made this industry vulnerable to money laundering and other illegal activities in the insurance industry.

Authorities have imposed AML regulations on insurance covering the transaction monitoring and sanction screening obligation. In the US, the Bank Secrecy Act (BSA) has imposed regulations related to transaction monitoring on insurance firms to track cash flows. To keep a track of money coming in and out of the systems, government and financial bodies implement guidelines specific to the insurance industry, which are expected to fuel the adoption of AML solutions. Thus the Insurance sector is expected to grow at the highest CAGR during the forecasted period.

  • By Organization, Large enterprises to account for a larger market size during the forecasted period

By organization size, Enterprises are categorized into Large and Small and medium sized enterprises (SMEs).Enterprises with more than 1,000 employees are considered large enterprises.

Large enterprises are the early adopters of AML solutions, as they use many business applications susceptible to fraudulent attacks. As these enterprises are large, with different types of IT infrastructure, they face the difficult task of effectively managing the security of their applications.

Unlike SMEs, large enterprises are well-equipped with technical skills, have higher investment capabilities, and are more exposed to incidents of fraud. This has led to higher awareness levels among large enterprises.

Large enterprises are rich with resources and offer a number of options for money transactions to customers worldwide. Due to this, large banks, casinos, and insurance companies are more vulnerable than SMEs, due to which large enterprises account for a larger market share than SMEs.

  • By Region, North America to grow at highest market size during the forecasted period

Due to the presence of major vendors of AML solutions and services in the North America region and continuous innovations such as the implementation of AI and ML in AML solutions, North America is expected to hold the largest market size during the forecast period. There are two authorities present in the US: BSA and USA Patriot.

These authorities create regulations and policies to combat financial crimes in the country. Such regulatory norms are the major foundations for dependence on AML solutions, which in turn, promote market growth.

Also, the increasing technological advancements and rising money laundering cases fuel the AML market in Canada. AML vendors in this country adopt advanced AI- and ML-based AML solutions to defend their systems against suspicious transactions.

Hence, organizations in Canada are taking modern measures against money laundering and applying a risk-based approach to combat financial crimes, thus increasing the market growth.

Breakdown of primaries:

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the SOC as a Service market.

  • By company type: Tier 1: 35%, Tier 2: 40%, and Tier 3: 20%
  • By designation: C-level: 40%, Managerial and other levels: 60%
  • By region: North America: 20%, Europe: 35%, APAC: 45%

Major vendors in the global MDR market include FICO (US), Fiserv (US), BAE systems (UK), LexisNexis (US), SAP (Germany), SAS Institute (US), ACI Worlwide (US), FIS (US), Oracle (US), Experian (Ireland), Jumio Corporation (US), Nice Actimize (US), GB group plc (UK), Nelito systems (India), Wolters Kluwer financial services (The Netherlands), Comarch SA (Poland), Allsec technologies ltd (US), Dixtior (Portugal), Temenos (Switzerland), TCS (India), Comply Advantage (UK), Featurespace (UK), Feedzai (US), Napier Al (UK), Tier 1 financial solutions (Canada), Finacus solutions pvt ltd (India), FRISS (Netherlands), IDMERIT (US), IMTF (Switzerland), Innovative systems (US), Sedicii (Ireland), Truelioo (Canada), NameScan (Australia), DataVisor, Inc (US), Gurucul (US), Transunion ( US).
The study includes an in-depth competitive analysis of the key players in the AML market, with their company profiles, recent developments, and key market strategies.

Research coverage

The report segment the AML market and forecast its size, by component ( Solutions and services), organization size (SMEs, large enterprises), deployment mode (On-premises, cloud), end users ( Banking & financial institutes, Insurance, Gaming & Gambling) and by region (North America, Europe, Asia Pacific, MEA, and Latin America).
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key benefits of buying the report

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall AML market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies.

The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05815011/?utm_source=GNW

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China-France forum underscores people-to-people, cultural exchanges

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PARIS, May 5, 2024 /PRNewswire/ — A forum on the development of people-to-people and cultural exchanges between China and France was held here on Saturday, in a bid to boost cooperation and mutual learning.

 

President of Xinhua News Agency Fu Hua attends a forum on the development of people-to-people and cultural exchanges between China and France and delivers a speech, in Paris, France, May 4, 2024. (Meng Dingbo)

 

Chinese Ambassador to France Lu Shaye, speaks at a forum on the development of people-to-people and cultural exchanges between China and France, in Paris, France, May 4, 2024. (Lian Yi)

The participants agreed that strengthening cultural exchanges and cooperation between China and France will not only help broaden consensus and deepen mutual trust, but also promote the two great civilizations and other civilizations worldwide to achieve each other and to rejuvenate with fresh vitality in the new era.

This year marks the 60th anniversary of the establishment of diplomatic relations between China and France and is also the China-France Year of Culture and Tourism.

In his opening speech, President of Xinhua News Agency Fu Hua said the forum, held on the eve of Chinese President Xi Jinping’s state visit to France, is of great significance in boosting cooperation between media, think tanks and enterprises from the two countries and in facilitating cultural exchange and mutual learning.

Fu said that Xinhua has been dedicated to telling stories about the friendship between the two countries and promoting Chinese and French cultures.

“We are willing to work with Chinese and French media outlets, think tanks and other organizations to uphold the principle of equality, mutual learning, dialogue and inclusiveness among civilizations, and promote the common values of all humanity,” he said.

Xinhua is ready to jointly showcase the fruits of China-France cooperation, demonstrate the charms of the two countries’ traditional cultures and the unique highlights of their modern civilizations, and broaden the bridge of people-to-people exchange and cultural cooperation, Fu noted.

Xinhua also stands ready to seize such opportunities as the China-France Year of Culture and Tourism and the Paris Olympic Games to try to hold more cultural exchange activities to push bilateral relations to a new high.

China’s Ambassador to France Lu Shaye said people-to-people and cultural exchanges are an important foundation and inexhaustible driving force for China-France relations.

The two countries are set to launch dozens of cultural and tourism events this year that marks the 60th anniversary of diplomatic ties and the China-France Year of Culture and Tourism, and will see the Paris Olympic Games, bringing important opportunities for people-to-people and cultural exchanges, the ambassador said.

Lu also expressed his belief that under the strategic guidance of President Xi and President Macron, bilateral ties are bound to show vigor and vitality in the future, and the booming cultural exchanges and cooperation will also lay a more solid public opinion foundation for the sound and stable development of bilateral ties.

“Culture constitutes the strongest cement between our civilizations,” Eric Alauzet, president of the France-China Friendship Group of the French National Assembly, said at the forum.

The common history of the two countries after the establishment of diplomatic ties has nourished fruitful cultural and people-to-people exchanges, which has in turn driven cooperation and development in other areas, he said.

Bilateral cooperation has achieved many outcomes in economy and trade, and in their joint efforts against climate change, Alauzet added, noting that the two countries have held various cultural exchange activities this year, which will further push forward bilateral relations.

Saturday’s forum is co-sponsored by Xinhua News Agency, the Chinese Embassy in France, and Publicis Groupe, a French multinational advertising and public relations company.

Themed “Reinforcing People-to-people and Cultural Exchanges, Promoting the China-France Spirit,” the forum drew around 250 representatives from the Chinese and French governments, the United Nations and other international organizations, mainstream global media outlets, think tanks as well as cultural and business circles of the two countries.

Prior to the opening of the forum, Xinhua News Agency signed a memorandum of understanding with Publicis Groupe.

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QNB Group appoints prominent actor Ahmed Helmy as Brand Ambassador

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DOHA, Qatar, May 4, 2024 /PRNewswire/ — QNB Group, the largest financial institution in the Middle East and Africa, is proud to announce the signing of renowned actor Ahmed Helmy as its new brand ambassador.

The announcement comes in line with the Group’s vision and the values of innovation and excellence reflected by its brand. Ahmed Helmy, one of the most influential artists of his generation in the region and humanitarian and artistic commitment, making him the ideal ambassador to consolidate brand values and contribute to the Group’s efforts to build a better future for all.

In his new role, Ahmed will strengthen the Bank’s image as a leading financial institution committed to providing the best customer experience, attracting a new customer base, supporting the Group’s vision and brand and building customer relationships.

Commenting on the announcement, Ms. Heba Ali Al Tamimi,  Senior Executive Vice President, QNB Group Communications, said: “We are delighted to welcome Ahmed Helmy as our brand ambassador. His exceptional career makes him the right personality to represent our brand. We hope that this collaboration will support QNB Group’s commitment to providing the best innovative solutions and services, reinforcing our position as a leading financial institution, while making a lasting impact in the communities in which we operate and strengthening the QNB’s position as a trusted financial partner in the region.”

This partnership reflects the shared values of Ahmed Helmy with QNB, a banking icon committed to the highest standards of innovation, excellence and success.

QNB Group currently ranks as the most valuable bank brand in the Middle East and Africa. Through its subsidiaries and associate companies, the Group’s presence spans more than 28 countries across three continents providing a comprehensive range of advanced products and services. The total number of employees is 30,000, operating from approximately 900 locations, with an ATM network of 5000 machines.     

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REALTY ONE GROUP CELEBRATES 19TH ANNIVERSARY WITH GLOBAL ‘ONE DAY’ OF VOLUNTEERING & GIVING BACK

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Food Banks, Children, Veterans, Pets and Many More Benefit from the Global Franchisor’s Charitable ONE Day

LAGUNA NIGUEL, Calif., May 3, 2024 /PRNewswire/ — Realty ONE Group International, a modern, purpose-driven lifestyle brand and ONE of the fastest growing franchisors in the world, celebrate its May 1st anniversary – this year marks 19 years – with a day of volunteering and giving back across the globe. The ONE Family of U.S. real estate professionals from coast to coast as well as offices and affiliates in 20 more countries, generously donated thousands of hours on Wednesday helping children, veterans, food banks, pets and so many more.

Being a part of our ONE Family means we are driven to make a positive impact in our communities, helping each other whenever and wherever we can,” said Kuba Jewgieniew, CEO and Founder of Realty ONE Group International. “Giving back is in our DNA because we know that ONE act of kindness can change a life!”

The internet was flooded Wednesday with images of Realty ONE Group agents and entire offices handing out food, repairing homes, collecting backpacks, and serving in so many other ways. In less than 24 hours, with more locations still submitting volunteer impact forms, the franchisor impacted over 334,000 lives and donated more than $60,000 in just this ONE day.

Realty ONE Group’s ONE Cares, the 501(c)3 charitable arm of the organization, drives the ‘Community’ in the franchisor’s 6C’s values which also include Connect, Cares, Coaching, COOLTURE, and Commission. In 2023, the global franchisor transformed more than 200,000 lives.

Realty ONE Group International claimed the No. 1 spot for real estate franchisors for the third year in a row on Entrepreneur’s highly competitive 2024 Franchise 500® list. The only modern, lifestyle brand in the industry now has more than 19,000 real estate professionals in more than 400 locations in 49 U.S. states, Washington D.C. and 20 more countries and territories.

Learn more at www.OwnAOne.com.

About Realty ONE Group International
Realty ONE Group International is one of the fastest growing, modern, purpose-driven lifestyle brands in real estate whose ONE Purpose is to open doors across the globe – ONE home, ONE dream, ONE life at a time. The organization has rapidly grown to more than 19,000 real estate professionals in over 400 locations across 20 countries and territories because of its proven business model, full-service brokerages, dynamic COOLTURE, superior business coaching through ONE University, outstanding support and its proprietary technology, zONE. Realty ONE Group International has been named the number ONE real estate brand by Entrepreneur Magazine for three consecutive years and continues to surge ahead, opening doors, not only for its clients but for real estate professionals and franchise owners. To learn more, visit www.RealtyONEGroup.com.

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