The Latin America, Middle East and Africa Payment Monitoring Market would witness market growth of 23.5% CAGR during the forecast period (2020-2026). The market for payment monitoring is witnessing the emergence of creative technologies aimed at enhancing these solutions. Vendors are incorporating Artificial Intelligence (AI) into payment processing to make services more secure and smarter. Smart AI-enabled payment monitoring solutions are designed with features like network threat detection, intrusion detection, behavioural analysis and object classification. Thus, the convergence of blockchain and AI technologies with payment management solutions would fuel market growth over the forecast period.
Increasing the sophistication of cyber-attacks allows companies to incorporate strategies to identify and prevent fraud, along with numerous policies and training programs to monitor internal and external fraud. While the nature of digital fraud continues to grow, key institutions and businesses are expected to implement the latest approaches to make digital payments safer, thus increasing customer trust. Investments in digital security also will become a market distinguishing factor for a number of companies.
The growth of digital technology has also driven new platforms such as e-commerce and m-commerce, which are opening up new ways for customers to make transactions, such as tapping their mobile phone or a wearable object (like a watch) on a contactless payment terminal or reading a fast response (QR) message. The introduction of these new technologies in emerging markets will help to create new revenue sources and reduce overheads, with a positive effect on the bottom line for both businesses and governments.
Based on Component, the market is segmented into Solution and Services. Solution segment is further bifurcated into KYC/Customer Onboarding, Case Management, Watch List Screening, and Dashboard & Reporting. Based on Application, the market is segmented into Anti-Money Laundering, Compliance Management & Customer Identity Management and Fraud Detection & Prevention. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End User, the market is segmented into BFSI, IT & Telecom, Healthcare, Retail & eCommerce, Government & Defense, Energy & Utilities, Manufacturing, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: Payment Monitoring Market in LAMEA is expected to register a CAGR of 23.5% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ACI Worldwide, Inc., BAE Systems PLC, Fiserv, Inc., NICE Ltd., Oracle Corporation, SAS Institute, Inc., Software AG, Fair Isaac Corporation (FICO), Fidelity Information Services (FIS), Inc., and Refinitiv Company.
Market Segmentation:
By Component
By Application
By Organization Size
By End-User
By Country
Companies Profiled
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