市場調查報告書
商品編碼
1172723
KYC(了解你的客戶)軟件全球市場規模、份額、行業趨勢分析報告:按組件、按部署、按公司規模、按最終用途、按地區展望和預測,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(了解您的客戶)軟件的全球市場規模預計將達到 95 億美元,預測期內復合年增長率為 19.7%。
KYC 是客戶盡職調查 (CDD) 的一部分,負責驗證客戶的身份。 KYC 程序用於評估個人和公司記錄,以檢測反洗錢 (AML) 中的所有者關係、串通和組織間關係。 此過程會識別負面命中,例如與此人相關的觀察名單、制裁名單和政治公眾人物 (PEP) 名單。 CDD、風險和合規評估的最低標準已經制定,以打擊洗錢、金融犯罪、恐怖主義融資和其他非法活動。
KYC 是合規管理系統 (CMS) 的重要組成部分。 該系統根據預期的風險水平定義了合規檢查的範圍和要考慮的監管風險。 此外,還會針對潛在的怪癖篩選交易。 因此,識別資金的來源和位置成為“了解你的業務夥伴”盡職調查的關鍵目標。
COVID-19 影響分析
大流行的一個關鍵趨勢是對靈活勞動力的需求,即使在疫情消退後這種需求仍在加強。 公司按項目外包臨時工以節省運營成本。 出於合規目的,必須單獨審查、處理和分發的國家索賠和法規有所增加,包括賠償索賠、貸款批准和抵押貸款休假申請。 因此,完成 KYC 已成為許多公司的一項重要規定。
市場增長因素
簡化並加快 KYC 流程
了解您的客戶 (KYC) 軟件通常有助於解決手動客戶關係管理系統中出現的高放棄率問題。 成功的 KYC 流程需要攜帶文件副本這一耗時的過程,因此客戶放棄了該流程,有些甚至不考慮它。 隨著KYC軟件的普及,KYC正在被許多公司和機構實施,其範圍也在不斷擴大。 隨著 KYC 軟件的推出,公司可以將單個 KYC 所需的時間從幾天減少到幾分鐘。
輕鬆配置 CDD/EDD 合規規則
使用 KYC 軟件的自動 KYC 入職有助於遠程驗證個人及其文件。 這可以通過視覺身份驗證軟件或通過搜索國際數據庫來完成。 這有助於製裁登記和政治公眾人物檢查,以及對政治和媒體有害的官員和受益人的盡職調查。 結果是 EDD/CDD 和 AML 機構合規性以及快速創建審計跟蹤。
市場製約因素
要求的文件類型不一致
數字基礎設施故障和數據洩露的可能性很高,這給 KYC 執法帶來了重大風險。 此外,由於欺詐性使用個人信息的情況增加,許多客戶對選擇 KYC 猶豫不決。 此外,各種銀行、金融科技公司和金融機構之間缺乏文件標準化,在一定程度上增加了 KYC 流程的複雜性。 在很多情況下,我們看到同一行業的不同公司需要不同的 KYC 文件集。 當一家公司在多個司法管轄區開展業務時尤其如此。
組件視角
KYC(了解您的客戶)軟件市場按組件細分為軟件和服務。 2021 年,服務部門在客戶保護軟件市場實現了大幅增長。 這一領域增長的主要驅動力之一是 KYC 軟件服務幫助金融機構和銀行提高運營效率的能力。
部署前景
KYC(了解您的客戶)軟件市場根據部署類型分為本地和雲端。 在 2021 年的了解你的客戶 (KYC) 軟件市場中,內部部署部門取得了可觀的增長率。 金融機構可以使用本地技術更輕鬆地在現場驗證消費者數據。 影響這一類別的一個關鍵方面是本地 KYC 軟件在公司場所驗證和存儲客戶數據的能力。
公司規模展望
了解你的客戶 (KYC) 軟件市場根據企業規模分為大型企業和中小企業。 在 2021 年的 KYC(了解你的客戶)軟件市場中,中小企業 (SME) 細分市場獲得了顯著的增長率。 為了為客戶提供更好的體驗,小型企業正在數字化他們的服務。 世界各地的公司都建立了 KYC 設計團隊,以幫助簡化中小型銀行的 KYC 程序。
結束使用 Outlook
了解您的客戶 (KYC) 軟件市場根據最終用途分為 BFSI、電信、政府和其他。 BFSI 部門在 2021 年獲得了客戶信息軟件市場的最高收入份額。 通過世界各地的各種金融機構和銀行增加在線支付活動是該細分市場增長的推動力。 為了增加市場份額,銀行和其他金融機構正在使用各種尖端技術,例如雲計算和人工智能。
區域展望
按地區劃分,分析了北美、歐洲、亞太地區和 LAMEA 的了解你的客戶 (KYC) 軟件市場。 2021 年,北美市場在了解您的客戶軟件市場中的收入份額最高。 主要市場進入者的存在是推動該地區增長的關鍵因素。 由於銀行、零售商和其他金融機構日益增長的數字化導向,他們應該會看到對新解決方案的需求增加。
市場進入者採用的主要策略是產品發布。 根據 Cardinal 矩陣中的分析,Experian PLC 和 RELX PLC (LexisNexis Risk Solutions, Inc.) 是 KYC(了解您的客戶)軟件市場的先驅。 Fenergo、Trulioo, Inc. 和 Acuant, Inc. 等公司是了解您的客戶 (KYC) 軟件市場的主要創新者。
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