Burton-Taylor: KYC/AML Spending Soars, Vendors Expect Further Boost
Burton-Taylor report shows spending on AML and KYC Data Solutions tops nearly $500 million as firms continue to invest in and adjust their KYC programs.
Private equity investment in this space has also boomed, with several players now backed by private equity funding, as PE firms seek to get into what is a very strong growth area of spend, according to the report, which focuses on companies or business divisions with a core competency in AML and KYC-related data and information and related services.
According to the report, spending has grown at a compound annual growth rate of 16.86 percent over a five-year period, from $268.9 million in 2012
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