Transaction monitoring can be defined monitoring of the transactions which is being done between the business and the customer. This include assessment of the historical/current customer’s information and interactions to provide a complete picture of customer activity.

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Published Tue, Apr 19th 2022
Transaction Monitoring Market to Partake Significant Development
during 2027
Transaction Monitoring Market is projected to drive rapidly due to extensive adoption of digitization, smart technologies, and automation
by large as well as small & medium enterprises is the global trend.
Posted via Industry Today. Follow us on Twitter @IndustryToday
Transaction monitoring can be defined as monitoring the transactions which is being done between the business and the customer. This
includes assessment of the historical/current customer’s information and interactions to provide a complete picture of customer activity.
Transaction monitoring majorly records and monitor the transaction which includes transfers, deposits, and withdrawals. The primary
reason to deploy transaction monitoring market system is to identify and protect the institution from any transactions that may lead to
money laundering and terrorist financing and result in the institution filing relevant Suspicious Activity Reports (SARs).
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Global Transaction Monitoring Market – Dynamics
Increasing Need for Digital Platforms to Monitor Day to Day Accounting Activities Driving the Growth of the Market
Increasing Adoption of Automation & Digitization by SMEs
Extensive adoption of digitization, smart technologies, and automation by large as well as small & medium enterprises is the global trend.
Overall, 90%­95% of total enterprises are small & medium in size while only 5%­10% are large in nature. The majority of SMEs within the
U.S have integrated or are looking forward to integrating their workflow with automation to gain operational efficiency. Thus, the adoption
of accounting software such as transaction monitoring is increasing globally. The adoption of automation in the workflow process by SMEs
is expected to drive the growth of the market.
Increasing Need to Reduce Operational Cost
Organizations are increasingly striving to reduce operational costs to survive in this competitive environment. Financial institutions, retail
enterprises, and many other industries are eliminating manual operational work and shifting to the workflow of software. Transaction
monitoring automation eliminates manual work and reduces the labor costs. Labor cost is one of the components which needs to be paid
by organizations. This cost can be highly optimized through transaction monitoring automation.
Constant Security Concerns and Network Issues Restricting the Growth of the Transaction Monitoring Market
Cloud Security and Network Transmission Issues
Transaction monitoring software models that rely highly on cloud services are skeptical to service impairment or control loss, data breach,
service loss including service breakdown, or in worse cases financial loss. The user experience may also be affected by unstable network
transmissions at some places and this limits the reach of cloud­based services including cloud­based and hybrid services/solutions in the
impacted regions.
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North America Expected to Dominate the Global Transaction Monitoring Market
In terms of region, the global transaction monitoring market can be divided into North America, Europe, Asia Pacific, South America, and
Middle East & Africa. North America is expected to dominate the global transaction monitoring market during the forecast period, as the
adoption of accounting software within this region to manage operational work in SMEs is very high compared to other regions.
Global Transaction Monitoring Market – Competition Landscape
In February 2020, Enfuce, a fintech start­up with more than 8 million end­users on its platform has collaborated with Featurespace
to protect its clients from existing fraud and new attacks.
In February 2020, Elliptic, a U.K.­based crypto asset risk management solution provider has received US$ 5 Mn investment from
Wells Fargo Strategic Capital, which has joined its Series B funding round bringing the total amount raised to over US$ 28 Mn.
Oracle Corporation
Established in 1977, Oracle Corporation is headquartered in Redwood Shores, California, the U.S. The company provides dedicated
solutions for financial management, covering multiple functions such as finance and accounting, billing, revenue recognition, financial
planning, and financial reporting. Furthermore, the company has gained expertise in cloud­based solutions.
SolarWinds Worldwide, LLC.
Founded in 2005, SolarWinds Worldwide, LLC. is a leading provider of powerful and affordable IT infrastructure management software.
The company has employees of over 275,000 in 190 countries. The company is a prominent player in network management and systems
management.
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Global Transaction Monitoring Market: Segmentation
The global transaction monitoring market can be segmented based on:
Enterprise Size
Deployment
Industry
Region
Global Transaction Monitoring Market, by Enterprise Size
Based on enterprise size, the global transaction monitoring market can be divided into:
Small & Medium Enterprises
Large Enterprises
Global Transaction Monitoring Market, by Deployment
Based on deployment, the global transaction monitoring market can be segregated into:
On­premise
Cloud
Global Transaction Monitoring Market, by Industry
In terms of industry, the global transaction monitoring market can be segregated into:
Banking, Financial Services & Insurance
Telecom & Information Technology (IT)
Manufacturing
Construction
Wholesale Distribution
Non­profit Organizations
Chemicals
Food and Beverage
Retail
Others (Hospitality, Government, and Public Sector, etc.)
This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the
market. TMR nurtures a close­knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and
frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their
mission­critical priorities with confidence.
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