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Spending Trends in AML-KYC

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6 November 2019
Arin Ray

The complex dynamics of technology and regulatory evolution has added unprecedented demands on banks’ Know Your Customer (KYC) and anti-money laundering (AML) technology and operations. As a result, spending in AML-KYC has exploded in the last decade. Celent estimates that financial industry spending on AML-KYC compliance technology, operations, and data will reach US$32.1 billion globally in 2019.

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