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Worldwide Payment Monitoring Industry to 2026 - Key Market Drivers and Restraints

·6 min read

Dublin, July 10, 2020 (GLOBE NEWSWIRE) -- The "Global Payment Monitoring Market By Component, By Application, By Organization Size, By End User, By Region, Industry Analysis and Forecast, 2020 - 2026" report has been added to ResearchAndMarkets.com's offering.

The Global Payment Monitoring Market size is expected to reach $24.5 billion by 2026, rising at a market growth of 29.7% CAGR during the forecast period. Payment monitoring is a solution provided to businesses willing to reduce the possibility of default within the payment plan. Since the time of issue of the invoice, the technology initiates proactive initiatives to strengthen the inflow of receivables. The ability of a company to incorporate an accurate comprehensive payment management program is essential for the survival of its industry. It's the secret to figuring out how the organization is performing.

Financial institutions must comply with the various AML, CFT and KYC legislation in the sense of customer onboarding processes. According to the rules, financial institutions must monitor their new customers. Such checks will be carried out in order to comply with the Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. Financial companies are responsible for meeting the criteria of AML, KYC and CDD. Financial organizations that do not take the requisite steps to lose their credibility as well.

In order to address the need for financial inclusion, there has been a rapid expansion of new technology and developments that are helping to make it more economically feasible for banks to access 'unbanked' or 'underbanked' populations. Technology has moved from branch banking to e-banking and now mobile money, which has helped to build pockets of power even among the least financially inclusive countries. With the cost of servicing customers considerably lower for automated teller machines (ATMs), interactive voice response (IVRs), mobile and online banking, these alternative banking platforms have seen a huge increase.

Payment monitoring solutions are of great benefit to organizations; however, they involve skilled and trained professionals with specific experience in analytical and critical thought and financial expertise. There is currently a lack of professional software developers, such as statisticians, conscientious hackers, data analysts, and computer scientists. Nevertheless, a number of education initiatives are being introduced across various countries to train machine learning and analytical professionals. This will help people learn more about analytics and machine learning, which is expected to help develop payment monitoring solutions and contribute to market growth monitoring of payments.

The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix, Oracle Corporation is the major forerunner in the Payment Monitoring Market. Companies such as Fair Isaac Corporation (FICO), Fiserv, Inc., and ACI Worldwide, Inc., BAE Systems PLC, Refinitiv Company, NICE Ltd., Fidelity Information Services (FIS), Inc., Software AG, and SAS Institute, Inc. are some of the key innovators in the market.

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.

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Key Topics Covered:

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Payment Monitoring Market, by Component
1.4.2 Global Payment Monitoring Market, by Application
1.4.3 Global Payment Monitoring Market, by Organization Size
1.4.4 Global Payment Monitoring Market, by End User
1.4.5 Global Payment Monitoring Market, by Geography
1.5 Methodology for the research

Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.2 Executive Summary
2.1.3 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints

Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Mergers & Acquisitions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2016-2020)
3.3.2 Key Strategic Move: (Partnerships, Collaborations, and Agreements : 2016, Jul - 2020,Apr) Leading Players

Chapter 4. Global Payment Monitoring Market by Organization Size
4.1 Global Payment Monitoring Large Enterprises Market by Region
4.2 Global Payment Monitoring Small & Medium Enterprises Market by Region

Chapter 5. Global Payment Monitoring Market by Industry Vertical
5.1 Global BFSI Payment Monitoring Market by Region
5.2 Global IT & Telecom Payment Monitoring Market by Region
5.3 Global Healthcare Payment Monitoring Market by Region
5.4 Global Retail & eCommerce Payment Monitoring Market by Region
5.5 Global Government & Defense Payment Monitoring Market by Region
5.6 Global Energy & Utilities Payment Monitoring Market by Region
5.7 Global Manufacturing Payment Monitoring Market by Region
5.8 Global Other Industry Vertical Payment Monitoring Market by Region

Chapter 6. Global Payment Monitoring Market by Application
6.1 Global Payment Monitoring Anti-Money Laundering Market by Region
6.2 Global Payment Monitoring Compliance Management & Customer Identity Management Market by Region
6.3 Global Payment Monitoring Fraud Detection & Prevention Market by Region

Chapter 7. Global Payment Monitoring Market by Component
7.1 Global Solution Payment Monitoring Market by Region
7.2 Global Payment Monitoring Market by Solution Type
7.2.1 Global KYC/Customer Onboarding Payment Monitoring Market by Region
7.2.2 Global Case Management Payment Monitoring Market by Region
7.2.3 Global Watch List Screening Payment Monitoring Market by Region
7.2.4 Global Dashboard & Reporting Payment Monitoring Market by Region
7.3 Global Services Payment Monitoring Market by Region

Chapter 8. Global Payment Monitoring Market by Region
8.1 North America Payment Monitoring Market
8.2 Europe Payment Monitoring Market
8.3 Asia Pacific Payment Monitoring Market
8.4 LAMEA Payment Monitoring Market

Chapter 9. Company Profiles
9.1 ACI Worldwide, Inc.
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Regional & Segmental Analysis
9.1.4 Research & Development Expenses
9.1.5 Recent strategies and developments Partnerships, Collaborations, and Agreements Product Launches and Product Expansions
9.1.6 SWOT analysis
9.2 BAE Systems PLC
9.3 Fiserv, Inc.
9.4 NICE Ltd.
9.5 Oracle Corporation
9.6 SAS Institute, Inc.
9.7 Software AG
9.8 Fair Isaac Corporation (FICO)
9.9 Fidelity Information Services (FIS), Inc.
9.10 Refinitiv Company

For more information about this report visit https://www.researchandmarkets.com/r/e3czr

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