Liminal Releases 2024 Link Index for Anti-Money Laundering Transaction Monitoring Targeting Financial Services and Fintechs, Revealing the Top 18 Solution Providers

In this competitive landscape, the Top 18 providers emerged with advanced AML transaction monitoring solutions that meet product capabilities and market strategy needs for robust compliance, operational efficiency, and technological innovation. Profiles of the top-ranked vendors, listed alphabetically: Alloy, AML Partners, Brighterion (Mastercard), ComplyAdvantage, CSI, Featurespace, Feedzai, Fenergo, GlobalVision Systems, HAWK:AI, NICE Actimize, Oracle, Quantexa, SAS, SymphonyAI, ThetaRay, Unit21, and Verafin.

Leading AML transaction monitoring solutions offer significant benefits, including reducing false positive alerts from industry averages of over 90% to below 50% and a 23% decrease in manual review time, allowing fewer employees to manage the same volume of alerts. These solutions also streamline the management and regulatory e-filing of Suspicious Activity Reports (SARs), reducing costs. Moreover, financial institutions and fintechs see a positive return on investment, with a $5.30 return for every $1 spent on these advanced monitoring solutions.

The report highlights that the vendor landscape in the AML transaction monitoring market falls into two categories: large incumbents serving major global financial institutions with strong market presence and challenger platforms that excel in extensive automation and AI-driven alert generation. Vendors that combine comprehensive fraud and anti-money laundering (FRAML) functionalities are notably scarce. Financial services and fintech firms highlight essential criteria for AML solutions that provide seamless, automated monitoring capabilities, effective management of SARs, and scalability. Among the evaluated vendors, the top 18 distinguished themselves by meeting a minimum product execution standard of 41% and a strategic leadership benchmark of 28%. For detailed evaluation criteria, visit our website to access the full report.

“Banks and fintechs face significant challenges in managing compliance costs, navigating regulatory complexities, and responding swiftly to emerging trends of money laundering,” says Liminal CEO Travis Jarae. “These challenges are exacerbated by the reliance on outdated systems and the increased operational costs from manual processes. The 2024 Link Index for Anti-Money Laundering Transaction Monitoring for Financial Services and Fintechs addresses these issues by evaluating and ranking the top providers that meet buyer demands for a modern AML solution. This report enables institutions to make strategic decisions that optimize compliance, enhance efficiency, and drive better financial outcomes.”

Discover the 2024 Link Index for AML Transaction Monitoring for Financial Services and Fintechs, complete with comprehensive vendor evaluations and market insights, at www.liminal.co.

More about Liminal and the Link Index:

Link Index Methodology 
The Link Index provides a detailed evaluation and ranking of leading vendors based on specific use cases, utilizing data from Liminal’s Link platform. Liminal employs a proprietary framework to assess product capabilities according to market trends and buyer needs, underpinned by the Liminal Landscape taxonomy and ontology. This process involves a rigorous buyer survey to pinpoint key product features and valued components, factoring in market presence indicators like customer satisfaction, market penetration, and brand recognition. Complete results, including vendor profiles, product details, and an interactive database to explore more insights, are available in the Link competitive intelligence platform (customer log-in required).

About Liminal
Liminal is a global market intelligence and strategic advisory firm specializing in digital identity, financial crime and compliance, and cybersecurity technology solutions across industries while catering to the private equity and venture capital community. Founded in 2016, Liminal offers strategic and analytical services supporting executive decision-making at all product and business lifecycle stages. We advise some of the world’s most prominent business leaders, investors, and policymakers on building, acquiring, and investing in the next generation of solutions and technologies. We provide access to proprietary data and analysis, strategic frameworks, and integrated insights on the industry’s only competitive intelligence platform. For more information, visit www.liminal.co.

Contact:
Stacy Schulman
Liminal Media Relations
[email protected]
1 (602) 616-9818

SOURCE Liminal Strategy, Inc.