Financial Institutions Compliance Training Market Scope
Financial compliance training Compliance training, developed exclusively for the financial sector, assists all employees in the financial industry, including management staff, investors, bankers, tellers, and boards of directors, and others, in remaining compliant with current rules. Credit risk, ethics, fraud, security, elder economic abuse, anti-money laundering regulations, cybercrime, and other topics may be covered in training. Financial compliance training is needed for all banks, financial professionals, investment companies, lending companies, and other organizations and professional people in the financial industry. Compliance has become one of the most important topics in this industry, and both federal and state regulation and enforcement have become increasingly stringent.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | AllenComm (United States), Flint Learning Solutions (Canada), TrainingFolks (United States), ProBank Austin (United States), Bank Administration Institute (United States), Compliance Asia (United Kingdom), GRC Solutions Pty Ltd (Australia), Interactive Services (Ireland), Euromoney Institutional Investor Plc (United Kingdom) and Edcomm Inc. (United States) |
CAGR | 6.6% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Financial Institutions Compliance Training market throughout the predicted period.
AllenComm (United States), Flint Learning Solutions (Canada), TrainingFolks (United States), ProBank Austin (United States), Bank Administration Institute (United States), Compliance Asia (United Kingdom), GRC Solutions Pty Ltd (Australia), Interactive Services (Ireland), Euromoney Institutional Investor Plc (United Kingdom) and Edcomm Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are New York Institute of Finance (United States), Thomson Reuters (Canada) and NAVEX Global Inc. (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Financial Institutions Compliance Training market by Type , by Application (Offline learning and Online learning) and Region with country level break-up.
On the basis of geography, the market of Financial Institutions Compliance Training has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In September 2016,IBM announced plans to acquire Promontory Financial Group, a global market-leading risk management and regulatory compliance consulting firm. Upon close, the capabilities of Promontory combined with IBM's deep industry expertise and Watson's cognitive capabilities will directly address the massive operational effort and manual cost of escalating regulation and risk management requirements.
In September, 2023 Finastra, a global provider of financial software applications and marketplaces, today announced the launch of its new payment solution, Finastra Compliance as a Service on Microsoft Azure. The service includes Fincom's real-time AML (Anti-Money Laundering) transaction screening and ThetaRay’s AI-powered transaction monitoring as a pre-integrated packaged solution with Finastra Payments
Influencing Trend:
Increasing Investment In RD For Development Of Training
Market Growth Drivers:
Growing The Adoption Of Online Financial Training Courses
Challenges:
Lack Of Skilled Professionals
Restraints:
High Cost Associated With Compliance Training Programmed
Opportunities:
Rapidly Expansion Of Financial Sector and Growing The Demand Of Compliance Training In Banking
Key Target Audience
Financial Institutions Compliance Training Provider, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others