Global System Spend to Reach $51.7 Billion by 2028, Driven by AI’s Risk Assessment and Cost Reduction

A new study by Juniper Research, the foremost experts in fintech and payments markets, has found by 2028, total spend on third-party AML (Anti-money Laundering) systems will have grown by 80%; up from $28.7 billion in 2024. This growth will be driven by the use of AI to assist AML analysts and reduce false positives.

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AI Co-pilots to Assist AML Analysts

The research found that AML systems are increasingly using AI in an assistive role. These AI co-pilot systems can reduce the number of false positives and improve risk assessment. We anticipate that this co-pilot role will remain popular, due to ongoing concerns from regulators around the explainability of fully automated decisions using AI.

AML Vendors Expanding Beyond Financial Industries

Juniper Research identified that AML system vendors are increasingly expanding the scope of industries they cover beyond financial markets. For example, the total spend on third-party AML systems by professional and other businesses, such as the legal, real estate and non-profit sectors, will reach $6.3 billion globally by 2028; growing 170% from 2024.

In order to successfully reach these new high-growth industries that are not well covered by existing solutions, we recommend AML systems vendors tailor their capabilities and partnerships to better serve these segments.

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Research author Daniel Bedford commented: “AML system vendors should extend partnerships with data providers, to allow coverage in different sectors, such as g******* and professional services. This will allow compliance teams across a broader range of markets to identify high-risk transactions or customers and minimise the impact of financial crime.”

The Research Suite

This research suite offers the most comprehensive assessment of the AML systems market to date, providing analysis and forecasts for over 26,720 datapoints across 60 countries over five years. It includes a ‘Competitor Leaderboard’ and examination of current and future market opportunities.

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