Financial crime and compliance50 2024

Financial crime and compliance50 2024

The inaugural Financial crime and compliance50 (FCC50) ranking and report marks the first time Chartis Research has ranked and recognised the vendors in the fincrime and compliance space, a market likely to be worth more than $26 billion by the end of 2025. The detailed analysis for FCC50 considers firms’ technological advances and strategic direction to provide a complete view of how market leaders are driving transformation in this sector.

While criminals have become more advanced and use more sophisticated technology, those fighting them now have many more tools of their own. Crucially, industry players are also learning how to collaborate, communicate and innovate.

Financial institutions are becoming more savvy, with a more astute understanding of what constitutes value. They know that, by leveraging technology and data insights effectively, they can protect themselves and their customers and comply with the law. But many of the tools they have just aren’t up to the job and/or cost too much to run, making lower cost of ownership and solution affordability increasingly critical.

Meanwhile, the drive to widen the availability of fincrime solutions is being aided by several technological advances, including cloud hosting, containerisation and no-code interfaces. And artificial intelligence, which – while a potentially big disruptor in the space – operates on the core principles of effective innovation: it must be practical, explainable and impactful. All of the rankings and results are available here.

Download the Chartis Financial crime and compliance50 2024 report

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