市场调查报告书
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1172723
KYC(了解你的客户)软件全球市场规模、份额、行业趋势分析报告:按组件、按部署、按公司规模、按最终用途、按地区展望和预测,2022-2028 年Global Know Your Customer Software Market Size, Share & Industry Trends Analysis Report By Component, By Deployment, By Enterprise Size, By End-use, By Regional Outlook and Forecast, 2022 - 2028 |
到 2028 年,KYC(了解您的客户)软件的全球市场规模预计将达到 95 亿美元,预测期内復合年增长率为 19.7%。
KYC 是客户尽职调查 (CDD) 的一部分,负责验证客户的身份。 KYC 程序用于评估个人和公司记录,以检测反洗钱 (AML) 中的所有者关係、串通和组织间关係。 此过程会识别负面命中,例如与此人相关的观察名单、制裁名单和政治公众人物 (PEP) 名单。 CDD、风险和合规评估的最低标准已经制定,以打击洗钱、金融犯罪、恐怖主义融资和其他非法活动。
KYC 是合规管理系统 (CMS) 的重要组成部分。 该系统根据预期的风险水平定义了合规检查的范围和要考虑的监管风险。 此外,还会针对潜在的怪癖筛选交易。 因此,识别资金的来源和位置成为“了解你的业务伙伴”尽职调查的关键目标。
COVID-19 影响分析
大流行的一个关键趋势是对灵活劳动力的需求,即使在疫情消退后这种需求仍在加强。 公司按项目外包临时工以节省运营成本。 出于合规目的,必须单独审查、处理和分发的国家索赔和法规有所增加,包括赔偿索赔、贷款批准和抵押贷款休假申请。 因此,完成 KYC 已成为许多公司的一项重要规定。
市场增长因素
简化并加快 KYC 流程
了解您的客户 (KYC) 软件通常有助于解决手动客户关係管理系统中出现的高放弃率问题。 成功的 KYC 流程需要携带文件副本这一耗时的过程,因此客户放弃了该流程,有些甚至不考虑它。 随着KYC软件的普及,KYC正在被许多公司和机构实施,其范围也在不断扩大。 随着 KYC 软件的推出,公司可以将单个 KYC 所需的时间从几天减少到几分钟。
轻鬆配置 CDD/EDD 合规规则
使用 KYC 软件的自动 KYC 入职有助于远程验证个人及其文件。 这可以通过视觉身份验证软件或通过搜索国际数据库来完成。 这有助于製裁登记和政治公众人物检查,以及对政治和媒体有害的官员和受益人的尽职调查。 结果是 EDD/CDD 和 AML 机构合规性以及快速创建审计跟踪。
市场製约因素
要求的文件类型不一致
数字基础设施故障和数据洩露的可能性很高,这给 KYC 执法带来了重大风险。 此外,由于欺诈性使用个人信息的情况增加,许多客户对选择 KYC 犹豫不决。 此外,各种银行、金融科技公司和金融机构之间缺乏文件标准化,在一定程度上增加了 KYC 流程的复杂性。 在很多情况下,我们看到同一行业的不同公司需要不同的 KYC 文件集。 当一家公司在多个司法管辖区开展业务时尤其如此。
组件视角
KYC(了解您的客户)软件市场按组件细分为软件和服务。 2021 年,服务部门在客户保护软件市场实现了大幅增长。 这一领域增长的主要驱动力之一是 KYC 软件服务帮助金融机构和银行提高运营效率的能力。
部署前景
KYC(了解您的客户)软件市场根据部署类型分为本地和云端。 在 2021 年的了解你的客户 (KYC) 软件市场中,内部部署部门取得了可观的增长率。 金融机构可以使用本地技术更轻鬆地在现场验证消费者数据。 影响这一类别的一个关键方面是本地 KYC 软件在公司场所验证和存储客户数据的能力。
公司规模展望
了解你的客户 (KYC) 软件市场根据企业规模分为大型企业和中小企业。 在 2021 年的 KYC(了解你的客户)软件市场中,中小企业 (SME) 细分市场获得了显着的增长率。 为了为客户提供更好的体验,小型企业正在数字化他们的服务。 世界各地的公司都建立了 KYC 设计团队,以帮助简化中小型银行的 KYC 程序。
结束使用 Outlook
了解您的客户 (KYC) 软件市场根据最终用途分为 BFSI、电信、政府和其他。 BFSI 部门在 2021 年获得了客户信息软件市场的最高收入份额。 通过世界各地的各种金融机构和银行增加在线支付活动是该细分市场增长的推动力。 为了增加市场份额,银行和其他金融机构正在使用各种尖端技术,例如云计算和人工智能。
区域展望
按地区划分,分析了北美、欧洲、亚太地区和 LAMEA 的了解你的客户 (KYC) 软件市场。 2021 年,北美市场在了解您的客户软件市场中的收入份额最高。 主要市场进入者的存在是推动该地区增长的关键因素。 由于银行、零售商和其他金融机构日益增长的数字化导向,他们应该会看到对新解决方案的需求增加。
市场进入者采用的主要策略是产品发布。 根据 Cardinal 矩阵中的分析,Experian PLC 和 RELX PLC (LexisNexis Risk Solutions, Inc.) 是 KYC(了解您的客户)软件市场的先驱。 Fenergo、Trulioo, Inc. 和 Acuant, Inc. 等公司是了解您的客户 (KYC) 软件市场的主要创新者。
The Global Know Your Customer Software Market size is expected to reach $9.5 billion by 2028, rising at a market growth of 19.7% CAGR during the forecast period.
A Know Your Customer software is a program that assists in implementing KYC. Know Your Customer or KYC refers to the procedure through which a company verifies the identification of its clients. Organizations like banks, financial institutions, and other institutions and workplaces employ KYC as a method of authentication. A KYC process includes a few characteristics in order to be considered standard. Policy on customer acceptance, techniques for customer identification, management of risk, and monitoring unusual activity in consumer transactions are some of the most important functions that KYC software performs.
Any business relationship with a financial institution, bank, and company handling sensitive information, international vendor, customer, or supplier is required to go through the KYC procedure. In addition, it is crucial for organizations to conduct KYC during the contract signing and onboarding and on an ongoing basis. This is needed in order to prevent affiliation with business partners who are engaged in non-compliance with regulations and rules and financial crimes.
KYC is a part of customer due diligence (CDD) and it engages in confirming customers' identities. In order to detect ownership connections, collusion in anti-money laundering (AML), and connections between organizations, KYC procedures are implemented to evaluate personal and company records. The process identifies any negative hits, such as watch lists, sanctions lists, and politically exposed persons (PEPs) lists associated with the person. Minimum criteria for CDD, risk, and compliance assessments have been created to help combat money laundering, financial crime, terrorist financing, and other illicit activities.
KYC is an essential part of the compliance management system (CMS). The system defines the extent of compliance checks and regulatory risk needed to be considered depending on the anticipated level of risk. Additionally, transactions are reviewed for any potential odd activity. The determination of the source and location of funds is consequently a primary goal of Know-Your-Business-Partner due diligence.
COVID-19 Impact Analysis
A significant trend of the pandemic was the desire for flexible workforces, which intensified even after the outbreak subdued. Businesses outsourced contingent workers on a project-by-project basis to save operating expenses. The number of compensation claims, loan approvals, mortgage holiday requests, and other state claims and rules that must be vetted, processed, and distributed by individuals in compliance increased. As a result, for many companies' completion of KYC became a critical provision.
Market Growth Factor
Streamlining and quickening of the KYC process
Most of the know your customer software significantly helps in countering the high abandonment rates that are usually seen in the manual know your customer systems. The time-consuming process of carrying document copies for the KYC process to go through successfully renders customers to abandon the process, and some may not even consider it. The rising adoption of KYC software has eventually increased the range of KYCs being done in many companies and institutions. KYC software enables businesses to deduct the time requirements of a single KYC from days to minutes.
Easy configuration of rules to comply with CDD/EDD
The automated onboarding of KYC through the software assists in verifying individuals and their documents remotely. This can be done either through visual identity verification software or by searching international databases. This simplifies the inclusion of checking against sanctions registers and PEPs, in addition to enabling the due diligence of directors or beneficial owners for harmful political and media exposure. Consequently, this establishes compliance with governmental bodies for EDD/CDD and AML and allows quick production of audit trails.
Market Restraining Factor
Lack of consistency in the required type of document
The failure of digital infrastructure and the high probability of data breaches pose a significant danger to the implementation of KYC. In addition, the increasing instances of personal information misuse deter many customers from opting for KYC. Furthermore, the nonexistence of document standardization among the various banks, fintech, and financial institutions raises the complexity of the KYC process to some extent. It has been found on many occasions that different companies from the same industry demand different sets of documents for KYC. This is especially true in cases where a company operates in many jurisdictions.
Component Outlook
Based on component, the know your customer software market is categorized into software and services. The services segment procured a considerable growth rate in the know your customer software market in 2021. One of the main drivers of the segment's growth is the capacity of KYC software services to assist financial institutions and banks in enhancing operational effectiveness.
Deployment Outlook
Based on deployment, the know your customer software market is classified into on-premise and cloud. The on-premise segment witnessed a considerable growth rate in the know your customer software market in 2021. Financial organizations can more readily validate consumer data on-site with the use of on-premise technologies. One important aspect influencing the category is the on-premise KYC software's capacity to validate and store customer data on the premises of the firms.
Enterprise Size Outlook
On the basis of enterprise size, the know your customer software market is fragmented into large enterprises and small & medium enterprises. The small and medium enterprises (SME) segment garnered a remarkable growth rate in the know your customer software market in 2021. To give customers a better experience, small and medium-sized businesses are increasingly digitizing their services. Companies from all over the world are establishing a KYC design team to aid small and medium-sized banks in streamlining their KYC procedure.
End-use Outlook
Based on end-use, the know your customer software market is segmented into BFSI, telecom, government, and others. The BFSI segment procured the highest revenue share in the know your customer software market in 2021. Increased online payment activity through various financial institutions and banks throughout the world is responsible for segment growth. To increase their market share, banks and other financial institutions are using a wide range of cutting-edge technology, including cloud computing and artificial intelligence.
Regional Outlook
On the basis of region, the know your customer software market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment recorded the highest revenue share in the know your customer software market in 2021. Major market participants' presence is a key element in promoting regional growth. Banks, retailers, and other financial organizations should see an increase in demand for new solutions due to the expanding preference for digitization.
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Experian PLC and RELX PLC (LexisNexis Risk Solutions, Inc.) are the forerunners in the Know Your Customer Software Market. Companies such as Fenergo, Trulioo, Inc. and Acuant, Inc. are some of the key innovators in Know Your Customer Software Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Pegasystems, Inc., Experian PLC, RELX PLC (LexisNexis Risk Solutions, Inc.), Fenergo, Truth Technologies, Inc., Equiniti Group plc (Siris Capital Group LLC), ACTICO GmbH, Trulioo, Inc. and Acuant, Inc.
Strategies deployed in Know Your Customer Software Market
Oct-2022: Fenergo introduced Fenergo Smart Review, a new perpetual KYC Solution. This solution aims to smoothen the periodic review process and automates the regular monitoring of client profiles for KYC Compliance through recognizing the changes for transactions, entity data, and AML Screening.
Sep-2022: Trulioo expanded its operations to Singapore and expanded its presence in Asia Pacific Region. Through starting operations in Singapore, the company expanded its offerings of compliance solutions for enhanced customer onboarding throughout the global markets.
Aug-2022: Experian signed a partnership agreement with DQ Global, a provider of data quality solutions. The partnership focuses on tackling the rising financial crime in the UK. FCA-regulated customers can access a wide view of business through the integration of DQ Global's suite of no-code FinTech products with Experian's KYC (Know Your Customer) data.
Jun-2022: Fenergo unveiled Fen-Xcelerate, a SaaS Client Lifecycle Management Solution for Mid-Sized & Boutique Financial Institutions. This solution provides end-to-end, fast, digital account opening and customer journeys in 6-12 weeks on a single platform. The solution supports integration with transaction monitoring services, its core banking systems, and a customer-facing portal, among others.
Apr-2022: Fenergo took over Sentinels, an AML (anti-money laundering) transaction monitoring company. The acquisition bolstered the due diligence process of the former company's clients through enhancing monitoring with rich KYC profiles and client behavioral data. Additionally, this acquisition helped Fenergo in delivering end-to-end Software as a Service (SaaS) based-CLM with smart transaction monitoring to financial firms.
Feb-2022: Trulioo completed the acquisition of HelloFlow, the innovative no-code, drag-and-drop builder of client onboarding, monitoring, and digital workflow solutions. Jointly, the companies are focused on optimizing the onboarding workflows to make the user experience smooth, while fulfilling the Anti-Money Laundering, Know Your Customer, and other regulatory and fraud prevention requirements.
Jan-2022: Trulioo made enhancements in GlobalGateway, its platform that has innovations in upgraded Know Your Business verification capabilities and Anti-Money Laundering (AML) watchlist and proof of address offerings. The upgrade includes UtilityID, GlobalGateway Watchlist, and upgraded Business Verification. These services, together, smoothen the onboarding of businesses and consumers. Additionally, it provides continuous monitoring for money laundering, fraud, and illicit behavior across the customer lifecycle.
Nov-2021: Experian launched Work Report, a digital verification service for payroll data-sharing consent. This service enables the customers to consent to share their payroll information digitally with other enterprises. Work Report allows a customer in confirming their identity and consent for sharing the verified income, credit information, and expenditure in a single data exchange.
Aug-2021: LexisNexis announced the acquisition of TruNarrative, a provider of automated onboarding, dynamic risk scores, and transaction monitoring. The acquisition assists the company in its fraud and financial crime compliance solutions.
May-2021: Acuant took over Hello Soda, an innovative and global provider of identity verification, KYC, and AML solutions. The acquisition reinforced Acuant's identity platform and global rank in digital identity. The combination aims to bring powerful technology and data science capabilities, the major key to unlocking trust in digital identities.
Nov-2020: Acuant announced the launch of Acuant Go No Code IDV and KYC Solutions for Agile Digital Transformation. Acuant Go delivers the fastest Go-to-market option with secure and proven technology. It is a portfolio of no-code solutions and is the fastest way to go-to-market and implement mobile and web identity verification and KYC/AML that meet regulatory, business, and customer needs.
Jul-2020: Trulioo released document verification and facial recognition feature to its EmbedID solution. These features deliver the same level of online protection to small and medium-sized businesses.
Apr-2020: Fenergo signed an original equipment manufacturing agreement with IBM, a technology company. Together, the companies aimed to develop solutions that integrate IBM's RegTech portfolio of anti-money laundering (AML) and know-your-client (KYC) solutions, all built with Watson with Fenergo's CLM offering.
Apr-2020: ACTICO came into partnership with Avaloq, a provider of digital banking solutions. The partnership aims to deliver automated and innovative compliance solutions for financial service providers and banks, based on machine learning.
Market Segments covered in the Report:
By Component
By Deployment
By Enterprise Size
By End-use
By Geography
Companies Profiled
Unique Offerings from KBV Research
List of Figures