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Transaction Monitoring Market Size to Reach USD 39.32 Billion, With a CAGR of 12.30% CAGR by 2030 – Report by Market Research Future (MRFR)

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New York, US, May 09, 2023 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “Transaction Monitoring Market by Component, Deployment, Organization Size, by Application, Function, Vertical—Forecast till 2030.

Growing Online Payments and Commerce to Boost Market Growth

The market’s expanding e-commerce trend and awareness of secure transaction or payment is boosting market growth. E-commerce businesses are required to utilize secure payment gateways which adhere to the toughest rules and legislation for carrying out business and taking payments online. The market share for transaction monitoring is significantly impacted by this.

Transaction Monitoring Market Key Players –  

Eminent industry players profiled in the global transaction monitoring market report include:

  • Fiserv, Inc. (US)
  • SAS Institute, Inc. (US)
  • IBM Corporation (US)
  • FIS (US)
  • Oracle Corporation (US)
  • Fair Isaac Corporation (US)
  • NICE Systems Ltd (Israel)
  • ACI Worldwide (US)
  • ACTICO GmbH (Germany)
  • Bottomline Technologies (US)
  • Beam Solutions, Inc. (US)
  • Infrasoft Technologies (India)
  • Software AG (Germany)
  • Experian Information Solutions, Inc. (Ireland)
  • BAE Systems (UK).

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Market Opportunities:

Increasing Deployment by SMEs to offer Robust Opportunities

Because they are frequently used as a cover industry for various forms of financial crime and money laundering, SMEs are primarily regarded by banking & other financial institutions as the sector with the highest risk. As a result, more SMEs are using cutting-edge technology to improve their efficiency and lower fraud in their transaction monitoring systems. Examples of these technologies include big data analytics, artificial intelligence, and machine learning. Moreover, AI-based transaction monitoring aids SMBs in proactive data monitoring and compliance with a variety of stringent government laws. The market for transaction monitoring worldwide is growing as a result of all these causes.

Market Restraints and Challenges

Network Transmission Concerns to act as Market Challenge

Network transmission issues and concerns, shortage of technical expertise, and dearth of transaction monitoring may act as market challenges over the forecast period.

Transaction Monitoring Market Report Scope:

Report Metrics Details
  Market Size by 2030 USD 39.32 Billion
  CAGR during 2022-2030 12.30%
  Base Year 2021
  Forecast 2022-2030
 Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Key Market Drivers The growing need of enterprises to comply with the know your customer (KYC) regulations and mitigate money laundering and Counter-Terrorist Financing (CTF) activities; and use of advanced analytics to provide proactive risk alerts are the factors which are expected to drive the market in North America.

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Market Segmentation

The global transaction monitoring market is bifurcated based on vertical, function, application, organization size, deployment mode, and component.

By component, service will lead the market over the forecast period.

By deployment mode, cloud will domineer the market over the forecast period.

By organization size, SMEs will spearhead the market over the forecast period.

By application, anti-money laundering will have the lions share in the market over the forecast period.

By function, dashboard and reporting will have the largest share in the market over the forecast period.

By vertical, BFSI will steer the market over the forecast period.

Market Analysis

The global transaction monitoring market will touch USD 39.32 billion at a 12.30% CAGR by 2030, as per the present Market Research Future report.

Browse In-depth Market Research Report (100 Pages) on Transaction Monitoring Market:
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COVID-19 Analysis of Transaction Monitoring Market

People did not wish to be exposed to such possibly fatal infection, the COVID-19 therefore the world was thrust into the digital era. Individuals started doing their shopping and working remotely. Business transactions significantly increased as a result of this. Hence, it provided a significant boost to the global market for transaction monitoring. Also, as more consumers used credit cards & other online payment methods to make purchases online, fraudsters had more opportunity to commit crimes. As a result, the COVID-19 quarantines actually contributed to a rise in cybercrime.

Regional Analysis

North America to Command Transaction Monitoring Market

Due to factors such as the government’s increased attention on maintaining & repairing civil infrastructure, ageing infrastructure, and the growing requirement to manage KYC compliance, North America is flourishing its dominance in the worldwide transaction monitoring industry. Also, there is a large-scale implementation of advanced analytics to protect the safety & security of important documents against preemptive hazards.

The transaction monitoring industry presently brings in the greatest money in the North American region. This is due to the fact that the majority of international e-commerce transactions currently take place in the United States & the rest of North America. Mexico and Canada, the two remaining nations in North America, come in second and third place, respectively, with regards to market revenue production.

As e-commerce becomes more prevalent in this region, the governments of Canada, Mexico, & the United States are establishing Know Your Customer (KYC) norms and regulations. The goal of these laws is to reduce credit card fraud & money laundering. Additionally, they have procedures in place to prevent these behaviors from occurring as frequently as is physically possible. Moreover, KYC rules and guidelines are designed to stop as much money as possible for the terrorist organizations. As a result, these rules and regulations commonly mention sophisticated analytics. These innovative analytics are designed to alert credit card companies to potential instances of terrorist funding or credit card fraud either at the moment they happen (ideally before they occur) or, at the very least, shortly after. All of these things are expected to contribute to the expansion of the North American market.

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APAC to Have Admirable Growth in Transaction Monitoring Market

Asia-Pacific is predicted to have the highest CAGR during the projection period. The region’s development is attributable to people becoming more aware of transaction monitoring processes & its advantages. Many countries, including China, India, & others, are boosting their infrastructure investments in order to promote economic growth.

In the APAC area, both SMEs and major enterprises were increasingly aware of the transaction monitoring process and its advantages and started implementing it to protect against shady transactions & money laundering activities. Throughout the projected period, this market is expected to grow most quickly in Asia-Pacific. Retail and e-commerce sectors are expected to boost the APAC as more businesses use these solutions throughout the BFSI.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact:

Market Research Future (Part of Wantstats Research and Media Private Limited)

Market Research Future (Part of Wantstats Research and Media Private Limited)
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New York, NY 10013
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Email: [email protected]
Website: https://www.marketresearchfuture.com
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Press Release: https://www.marketresearchfuture.com/press-release/transaction-monitoring-industry

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Artificial Intelligence

Identity Governance & Administration Market Projected to Reach $24.42 billion by 2030 – Exclusive Report by 360iResearch

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PUNE, India, April 25, 2024 /PRNewswire/ — The report titled “Identity Governance & Administration Market by Component (Services, Solution), Modules (Access Certification & Compliance Control, Access Management, Identity Lifecycle Management), Organization Size, Deployment, Vertical – Global Forecast 2024-2030” is now available on 360iResearch.com’s offering, presents an analysis indicating that the market projected to grow from a size of $8.46 billion in 2023 to reach $24.42 billion by 2030, at a CAGR of 16.34% over the forecast period.

“Navigating Global Identity Governance With Key Strategies for Digital Security and Compliance”
Identity governance and administration (IGA) has emerged as a critical policy-driven approach aimed at fortifying digital identities within organizations, ensuring that proper access is provided to the right individuals for valid reasons. Across the globe, the demand for IGA solutions is on the rise, driven by the need to tackle sophisticated cyber threats, comply with stringent data protection laws, and adapt to the digitization wave sweeping through industries. Challenges include integrating these solutions with pre-existing IT frameworks, primarily in organizations reliant on legacy systems. The North American market, led by the United States and Canada, is at the forefront of this expansion, embracing technological advancements and stringent regulatory standards. Meanwhile, the Europe, Middle East, and Africa (EMEA) region is navigating its unique landscape, with the EU focusing heavily on compliance through GDPR and the Middle East and Africa gradually recognizing the value of digital security. The Asia-Pacific region is witnessing a significant uptrend in IGA solutions adoption, spurred by digital transformation initiatives and cybersecurity awareness, with China and India playing pivotal roles. This global perspective highlights the universal importance of IGA in today’s digital era, highlighting the critical balance between innovation, security, and regulatory compliance in safeguarding digital identities.
Download Sample Report @ https://www.360iresearch.com/library/intelligence/identity-governance-administration
“Navigating the New Normal With The Crucial Role of Identity Governance in Securing Hybrid Work Environments”
As businesses globally embrace the fusion of remote and traditional office work, the need for secure, hybrid workspaces becomes paramount. The shift toward flexible working models, accelerated by the COVID-19 pandemic, highlights the importance of cybersecurity and accessibility in ensuring operational continuity and a better work-life balance. Identity governance & administration (IGA) systems emerge as essential tools within this evolving work landscape. They enable organizations to manage digital identities and access rights effectively, safeguarding sensitive data against unauthorized access across diverse working environments. By ensuring that only credentialed employees can access critical information, regardless of their physical location, IGA solutions stand at the forefront of maintaining cybersecurity compliance and operational integrity. This development signifies a growing demand for robust identity governance frameworks, ensuring businesses remain resilient and secure in remote work and beyond.
“Elevating Security and Efficiency in Organizations through Specialized Identity Governance & Administration Services”
Managed and professional services provide organizations with the specialized expertise necessary for optimizing the performance and security of identity governance & administration (IGA) systems, eliminating the need for such in-depth knowledge internally. Businesses benefit from advanced skills that enhance system functionality and safeguard sensitive data by outsourcing specific IGA tasks. From the initial stages of integration and implementation, ensuring seamless incorporation with existing infrastructures, to ongoing support and maintenance for consistent system reliability and up-to-dateness, these services form the foundation of effective IGA strategies. Furthermore, training and consulting play a pivotal role, equipping companies with the understanding and capability to utilize their IGA systems to the fullest. IGA solution is a critical technological tool designed to streamline the management of user access rights across organizations, bolstering security, operational efficiency, and compliance with regulatory standards. This comprehensive approach to IGA facilitates a more secure, efficient, and compliant organizational environment, empowering businesses to focus on core objectives and ensure their data remains protected.
Request Analyst Support @ https://www.360iresearch.com/library/intelligence/identity-governance-administration
“International Business Machines Corporation at the Forefront of Identity Governance & Administration Market with a Strong 7.09% Market Share”
The key players in the Identity Governance & Administration Market include Broadcom, Inc., SAP SE, Oracle Corporation, Microsoft Corporation, International Business Machines Corporation, and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
“Introducing ThinkMi: Revolutionizing Market Intelligence with AI-Powered Insights for the Identity Governance & Administration Market”
We proudly unveil ThinkMi, a cutting-edge AI product designed to transform how businesses interact with the Identity Governance & Administration Market. ThinkMi stands out as your premier market intelligence partner, delivering unparalleled insights with the power of artificial intelligence. Whether deciphering market trends or offering actionable intelligence, ThinkMi is engineered to provide precise, relevant answers to your most critical business questions. This revolutionary tool is more than just an information source; it’s a strategic asset that empowers your decision-making with up-to-the-minute data, ensuring you stay ahead in the fiercely competitive Identity Governance & Administration Market. Embrace the future of market analysis with ThinkMi, where informed decisions lead to remarkable growth.
Ask Question to ThinkMi @ https://app.360iresearch.com/library/intelligence/identity-governance-administration
“Dive into the Identity Governance & Administration Market Landscape: Explore 197 Pages of Insights, 654 Tables, and 26 Figures”
PrefaceResearch MethodologyExecutive SummaryMarket OverviewMarket InsightsIdentity Governance & Administration Market, by ComponentIdentity Governance & Administration Market, by ModulesIdentity Governance & Administration Market, by Organization SizeIdentity Governance & Administration Market, by DeploymentIdentity Governance & Administration Market, by VerticalAmericas Identity Governance & Administration MarketAsia-Pacific Identity Governance & Administration MarketEurope, Middle East & Africa Identity Governance & Administration MarketCompetitive LandscapeCompetitive PortfolioInquire Before Buying @ https://www.360iresearch.com/library/intelligence/identity-governance-administration
Related Reports:
Privileged Identity Management Market – Global Forecast 2024-2030Identity & Access Management Professional Services Market – Global Forecast 2024-2030Digital Identity Solutions Market – Global Forecast 2024-2030About 360iResearch
Founded in 2017, 360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset — our people.
Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.
Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.
Contact 360iResearchMr. Ketan Rohom360iResearch Private Limited,Office No. 519, Nyati Empress,Opposite Phoenix Market City,Vimannagar, Pune, Maharashtra,India – 411014.Email: [email protected]: +1-530-264-8485India: +91-922-607-7550
To learn more, visit 360iresearch.com or follow us on LinkedIn, Twitter, and Facebook.
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Enghouse Video Partners With SONIFI Health To Deliver Advanced Telehealth Solutions In Hospital Rooms

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MARKHAM, ON, April 25, 2024 /PRNewswire/ — Enghouse Video, a global leader in cutting-edge video technology solutions, today announced its partnership with SONIFI Health, enhancing virtual care in hospital settings.

SONIFI Health is a leading U.S. healthcare technology company based in Sioux Falls, South Dakota. The new partnership leverages and integrates Enghouse Video room systems technology to support SONIFI Health’s commitment to expanding telehealth applications and system optimizations in hospital settings.
Enghouse’s VidyoRooms solution, a sophisticated video conferencing technology that combines both software and hardware solutions, has been fully integrated into SONIFI Health’s interactive TV systems. This integration provides up to 4K high-quality video conferencing, multi-party sessions and robust security features that ensure full compliance with healthcare regulations.
Enghouse Video offers an immersive telehealth platform to support collaborative interdisciplinary care, improved patient outcomes and cost savings. The platform is flexible and simple, delivering the reliability, interoperability, and scalability needed for today’s healthcare environment. A key strength of the partnership is its offering of back-end integrations like patient portals, medical devices, EMR, tele-sitting, remote patient observation and consultation.
“Hospitals can choose the telehealth partner that’s right for them, and we incorporate that solution with interactive TV,” said Brian Nido, SONIFI Health’s Vice President of Customer Success. “Using the hardware and systems they already have in patient rooms helps hospitals reduce costs and maximize the value of their existing investments, while benefiting both clinicians and patients.”
SONIFI Health and Enghouse Video continue to collaborate closely to further refine and enhance the telehealth solutions provided to healthcare facilities. This partnership reflects a shared commitment to leveraging technology to create smarter hospital rooms and improve patient care across the healthcare spectrum.
About Enghouse VideoEnghouse Video, part of the Enghouse Interactive division, is a subsidiary of Enghouse Systems Limited, a vertically focused software and services company traded on the Toronto Stock Exchange (TSX: ENGH). Through highly secure, scalable and flexible Cloud-based or On Prem services, we deliver one of the world’s highest quality and most innovative video platform to video-enable any application or idea. From advanced video conferencing and collaboration tools to state-of-art enterprise video management, Enghouse Video is a unique player in multiple markets, including telehealth. Learn more at www.enghousevideo.com, read our blog, or follow us on Twitter at @EnghouseVideo, on LinkedIn, and on Facebook.
About SONIFI HealthSONIFI Health provides market-leading interactive patient engagement technology proven to improve patient outcomes and staff productivity. The EHR-integrated platform is designed to enhance patient and family experiences while increasing staff satisfaction and organizations’ operational efficiencies. As part of SONIFI Solutions, Inc., the company annually supports more than 300 million end user experiences. Learn more at sonifihealth.com.
Enghouse Video Contact: Sylvain Awad, Director, Demand Generation, Enghouse Video, part of Enghouse Interactive Division, [email protected]

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Global Insurance Provider Selects 3CLogic to Streamline AI and Contact Center Capabilities with ServiceNow

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Multinational Insurance Broker to deploy 3CLogic’s solution with ServiceNow’s Financial Service Operations (FSO) platform to streamline customer experiences.
ROCKVILLE, Md., April 25, 2024 /PRNewswire/ — 3CLogic, the leading Conversational AI and Contact Center solution for ServiceNow®, today announced its selection by a global insurance provider to replace its existing contact center infrastructure as part of a larger CX transformation effort. The strategic decision is designed to complement the organization’s use of ServiviceNow’s Financial Services Operations (FSO) offering leveraged across a number of its existing product lines including Customer Warranty Claims, Roadside Assistance, and Home Warranties.

Serving millions of customers worldwide with innovative insurance and protective products, the organization required a solution that would enhance its recent investment in the ServiceNow platform as it works to transform its end-to-end customer service operations. The deployment will incorporate several of 3CLogic’s AI-powered capabilities purpose-built for ServiceNow, including Conversational AI, Speech Analytics, and AI Performance & Coaching, along with integrated call transcriptions, convenient 2-way SMS, and ServiceNow-centralized contact center reporting.
“We continue to see enterprises eager to complement their existing investment in digital platforms, such as ServiceNow, with contact center features purpose-built to extend the workflows and features they already have and use,” explains Matt Durkin, VP of Global Sales at 3CLogic. “It’s no secret that organizations are already juggling too many systems, often with overlapping capabilities, which impacts ROI and operational efficiency. We’re proud to offer an alternative approach that helps simplify the technology stack while optimizing the overall operational costs and outcomes.”
Recently named to Constellation Research’s 2024 Shortlist for Digital Customer Service and Support, 3CLogic has seen global adoption of its solution by leading enterprises in healthcare, manufacturing, travel, retail, higher education, finance, non-profits, and Managed Service Providers across five continents. As a ServiceNow-certified Technology and Build partner with offerings available for ServiceNow’s IT Service Management, Customer Workflows, HR Service Delivery, and Source-to-Pay solutions, the company will be unveiling its latest set of capabilities at ServiceNow’s annual Knowledge 2024 event this May in Las Vegas.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
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