Celent's anti-money laundering vendor report: 2009 update

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4 June 2009
Neil Katkov
Celent's AML vendor evaluation reports have become something of a de facto standard, referenced by banks and regulators around the world. We began covering the sector in 2003, and are about to start work on our 3rd edition of the report. AML has not gone away as a concern for banks; indeed it has expanded, across both banking tiers (reaching down into community banks and credit unions in the US, for example) and across geographies (I recently spoke at an AML conference in Malaysia that drew over 500 delegates). The behavior detection technology that underpins AML software has also expanded its boundaries within the financial institution. Celent has been behind the "enterprise risk" approach, that is, consolidating AML and anti-fraud efforts, since our first AML report back in 2002. But until the last few years there were few real-life examples to point to. Recently, however, financial institutions have become increasingly concerned with fighting fraud, including fraud committed by customers as well as employee fraud. And a growing number of firms are beginning to take a wholistic approach to these issues. So this time around our report will take an enterprise risk approach as well, by including in our evaluation the anti-fraud products of the AML vendors. We're calling it "Evaluating the Vendors of Enterprise Risk Management Solutions 2009." We'll be starting research on the report this month, beginning with qualifying vendors for inclusion in the report. The last edition evaluated 19 vendors and was 100 pages long. As the market has shifted, with new products emerging and others fading from sight, there may be some shuffling in order to keep the field of vendors representative of the marketplace. And although we are constantly looking at this space, we'd welcome any comments on vendors we should consider that we may have missed. As a reminder, the AML software providers evaluated in the 2006 edition of the report were: Accuity, Ace Software Solutions, ACI Worldwide, Actimize, ChoicePoint/Bridger Insight, Experian/Americas Software, Fortent/Searchspace, FircoSoft, LogicaCMG, Mantas, Metavante/Prime Associates, Fiserv/NetEconomy, Norkom Technologies, Northland Solutions, SAS Institute, Side International, STB Systems, Top Systems, Wolters Kluwer Financial Services/PCi


  • Hi,

    Just wondering if evaluating Enterprise Risk Management Solutions means you will no longer have a seperate report for Watchlist Management Solutions ?



  • will the report also cover the most frequently used SI's for AML?

  • Hello has the 2009 report been published yet?

  • @kathy
    No, the report is in production now and we expect to publish it this quarter

  • Hi, when likely is the expected release date of this Report?

  • pl intimate on release of the Risk Management and compliance , fraud detection, surveiliance trend and vendor report

  • Hi, just wondering if there had been any update on this report. Has it been published yet? And if not, is there a revised publishing date?

  • Also looking to see if this report is available yet

  • Is this report available ?

  • We do not profile the SIs per se, but list them as implementation partners of the various AML vendors.

  • We expect to start publishing this report series soon--we're including over 40 vendors this time, in four separate reports, so it's a bit of a production to get it out compared to our last report in 2006.

  • Could you please advise if the report is out now, as well as its cost for a non-member? Is it for US Markets-only or Europe is included?

  • Thank you for your question. The 2003 and 2006 editions of the report included watchlist solutions within the same report, actually. This time, we may break out the watchlist solutions in a separate report, for the first time.

Insight details

Corporate Banking, Retail Banking
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Risk, >>Financial Services Risk, >>Banking Risk
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Asia-Pacific, EMEA, LATAM, North America