AML Transaction Monitoring Solutions, 2024: Quadrant Update
Core system providers have traditionally been slow to innovate in the anti-money laundering (AML) landscape ― until recently. This is the result of several factors, including the complexity of core systems, the need for backward compatibility and the cost of innovation. Several component players are offering solution functionality to plug the gaps in the AML capabilities of core systems; these firms are typically more innovative than core system vendors.
This year, however, we are seeing the major incumbents invest heavily in advanced analytics capabilities and generative artificial intelligence (GenAI). Some firms have invested extensively in machine learning (ML), deep learning (DL) and GenAI, while others are developing their link analysis capabilities.
This report provides Chartis’ latest view of the vendor landscape for AML transaction monitoring solutions. An analysis of demand-side trends, dynamics and implications can be found in the accompanying Chartis report AML Transaction Monitoring Solutions, 2024: Market Update (in collaboration with 1LoD).
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