Artificial Intelligence
Anti-Money Laundering Software Market Value Anticipated To Reach US$ 3,324.9 Million By 2027: Acumen Research And Consulting
LOS ANGELES, March 17, 2021 (GLOBE NEWSWIRE) — The Global Anti-Money Laundering Software Market is expected to grow at a CAGR of around 15.5% from 2020 to 2027 and reach the market value of over US$ 3,324.9 Mn by 2027.
The global anti-money laundering software is estimated to exhibit potential growth over the forecast period. The increasing government regulations owing to the increasing suspicious activities across the globe are driving the market value. Moreover, the countries that have the most penalties in Asia in 2020 include Malaysia (US$ 3.9 Bn), Australia (US$ 921.5 Mn), Singapore (US$123 Mn), Hong Kong (US$107.8 Mn), China (US$100.1 Mn), India (US$15.6 Mn), and Pakistan (US$11.7 Mn).
The global anti-money laundering software market is segmented on the basis of component, product, deployment type, end-use industry, and geography. Based on components, the market is divided into software and service. Based on product, market segments include transaction monitoring, currency transaction reporting, customer identity management, compliance management, and others. By deployment type, the market is divided across cloud and on-premise deployment. Additionally, the end-use industry includes IT and telecommunications, healthcare, BFSI, transportation and logistics, manufacturing, defense and government, retail, energy and utilities, and others.
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North America is leading the market with maximum revenue share in 2019 and the region is also anticipated to maintain its dominance over the forecast timeframe from 2020 to 2027. The major economies of the region including the US and Canada are the major revenue (US$ Mn) contributors. The well-established IT infrastructure and presence of major players in the region are contributing to the regional market value. In the United States and Canada, all transactions of US$10,000 or more are compulsorily required to be reported. Additionally, the United States Treasury’s Financial Crimes Enforcement Network researches approximately 5 million suspicious activity reports in a year. Furthermore, Asia Pacific is anticipated to exhibit the fastest growth over the forecast period from 2020 to 2027. The increasing expenditure on IT infrastructure and the rising adoption of cloud-based AML software is driving the market growth. The increasing government regulations are additionally bolstering the regional market value. For instance, the People’s Bank of China (PBC or PBOC) has handed out US$97 million worth of total 733 fines to the organizations that breached AML requirements.
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According to the Fenergo estimates of 2020, financial institutions in the Asia Pacific and globally have racked up more than US$10.6 billion in penalties related to the non-compliance of Anti-Money Laundering (AML), Markets in Financial Instruments Directive (MiFID), data privacy regulations, and know your customer (KYC). Moreover, the Asia Pacific alone has incurred more than US$5.1 billion in penalties as regulators crackdown on poor behavior from financial services firms.
Some of the leading competitors are 3i Infotech Ltd., Accuity Birst Inc., Fiserv Inc., IBM, Infosys, NICE Actimize Inc., Norkom Technologies Ltd, Oracle Corporation, SAS Institute Inc., and TCS. The major players are continuously updating the features of their solutions in order to provide advanced care and protection to their clients. Additionally, their expansion in the untapped and developing economies is further bolstering the regional market value.
Browse Upcoming Market Research Reports@ https://www.acumenresearchandconsulting.com/forthcoming-reports Some of the key observations regarding the anti-money laundering software industry include:
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Artificial Intelligence
Xinhua Silk Road: E China’s Changzhou City unveils investment opportunities in sectors of new productive forces for global investors
BEIJING, Sept. 29, 2024 /PRNewswire/ — Changzhou City, an leading international smart manufacturing base located in east China’s Jiangsu Province, has released a bunch of investment investment opportunities to global investors in various sectors of new productive forces at the the 2024 New Energy Industry Development Conference & Invest in Changzhou Conference held in the city on September 19.
The investment opportunities covers nine areas including synthetic biology, low-altitude economy, intelligent connected new energy vehicles, solid-state batteries, hydrogen energy, third-generation semiconductors, and artificial intelligence, manifesting the confidence of Changzhou in further opening development.
Changzhou, seated in the axis of the Yangtze River Delta, has become an important base for advanced manufacturing in China.
In recent years, thanks to intensified efforts in developing new energy industry and fostering new quality productive forces, Changzhou has expanded the added value of its industrial sector to more than two trillion yuan, with manufacturing added value accounting for about 43 percent, both ranking among the top three in Jiangsu Province.
In the Hurun China New Energy Cities 2024, a list released by the Hurun Research Institute at the conference, Changzhou ranked first among other cities in the country for three consecutive years in terms of investment attractiveness and concentration.
Changzhou has accumulated a total of 10.59 billion US dollars (nearly 74.25 billion yuan) in terms of actually utilized foreign capital since 2020. Major projects such as soft magnetism of ArcelorMittal and medical device of BIOS, a Hong Kong-based company, have been launched during the conference.
In addition, Changzhou has released a multilingual guide for foreign nationals in Changzhou at the conference, which includes practical service items in stay and residence, work, convenient payment options, among others, turning the city into a more open and international place.
Original link: https://en.imsilkroad.com/p/342380.html
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Artificial Intelligence
CGTN: China honors individuals with highest awards in celebration of 75th National Day
BEIJING, Sept. 29, 2024 /PRNewswire/ — Huang Zongde enlisted in the Chinese People’s Liberation Army at the age of 17, beginning a nearly four-decade-long military career where his bravery, valor and devotion earned him countless awards and honors.
The heavily decorated 93-year-old received the highest state honor on Sunday when Chinese President Xi Jinping conferred him with the Medal of the Republic at a ceremony in the Great Hall of the People in Beijing.
China awarded national medals and national honorary titles to 15 individuals, including Huang, in recognition of their contribution and achievement as it celebrates the 75th anniversary of the founding of the People’s Republic of China, which falls on October 1.
Chinese heroes and role models
In addition to Huang, three others were awarded the Medal of the Republic. Wang Yongzhi, a missile and rocket expert and a pioneer of China’s manned space program, was honored posthumously. Wang Zhenyi, a medical scientist known for breakthroughs in leukemia treatment, and Li Zhensheng, an expert in wheat breeding, are also among the honorees.
The national honorary titles went to 10 people, including scientists, a border patrolman, an artist, a craftsman, educators, a health worker, an economist and an athlete.
Addressing Sunday’s awarding ceremony, President Xi, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, called on the Chinese people to learn from heroes and role models to form a mighty force to build a strong China.
China is in a crucial period for building a great modern socialist country in all respects and achieving national rejuvenation through Chinese modernization, he said.
Encouraging the Chinese people to strive for extraordinary achievements at ordinary job posts, Xi urged them to contribute to resolving challenges to development and reform and safeguarding social harmony and stability.
China’s old friends and good friends
As its highest state honor for foreigners, China awarded the Friendship Medal to Dilma Rousseff, president of the New Development Bank and former Brazilian president, for her commitment to the friendship between China and Brazil, and development of relationship between China and the Community of Latin American and Caribbean States, and cooperation among BRICS countries, a group of major emerging economies.
Accepting the honor at the ceremony, Rousseff said the medal symbolizes the strong bonds between Brazil and China and pledged to continue her unremitting efforts to promote the friendship.
China’s achievements over the decades, including economic transformation, technological innovation and remarkable social development, have made it a beacon and a source of inspiration for the world, she said.
Xi lauded Rousseff as an outstanding representative of China’s old friends and good friends who have shared the same aspirations and stood together with the Chinese people over the past 75 years and vowed that China will never forget such international friends.
The Chinese people are ready to join hands with people from all over the world to safeguard world peace, promote common development and advance the building of a community with a shared future for mankind to create a better future for humanity, he said.
https://news.cgtn.com/news/2024-09-29/China-honors-individuals-with-highest-awards-ahead-of-National-Day-1xhS1SaZeZa/p.html
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Artificial Intelligence
Kazakhstan Government Delegation Visited SUPCON
HANGZHOU, China, Sept. 29, 2024 /PRNewswire/ — On September 26, a delegation from the Ministry of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan, led by Minister Madiyev Zhaslan, visited SUPCON. SUPCON’s Chairman and President, Mr.Cui Shan, warmly welcomed the delegation.
The Kazakhstan government representatives expressed their appreciation and recognition of SUPCON’s expertise and innovation in intelligent manufacturing, digital transformation, and industrial AI.
Madiyev Zhaslan expressed a strong interest in industrial AI technologies of SUPCON, particularly their applications in intelligent and low-carbon facilities. He looks forward to exploring extensive collaboration with SUPCON across various sectors in Kazakhstan.
Cui Shan emphasized that as a leading industrial AI company with a global presence, SUPCON will leverage its technological advantages to meet Kazakhstan’s industry development requirements and trends, injecting new momentum into the country’s industrial digitalization.
In 2023, SUPCON established a subsidiary in Kazakhstan as its Central Asia regional headquarters and set up a localized operational system. SUPCON will continue to invest in the long-term development of the Central Asia region, contributing further wisdom and strength to the industrial digital transformation in Kazakhstan and beyond.
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