NEW YORK, March 30, 2022 /PRNewswire/ -- The compliance training market size for financial institutions in the US is expected to grow by USD 1.22 bn from 2020 to 2025. The growth momentum of the market will progress at a CAGR of 16% during the forecast period.
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Compliance Training Market for Financial Institutions in US: Driver
Rising need for skilled employees is driving the market growth. The demand for employees with advanced skills such as analytics and advanced algorithms has increased significantly in the past few years due to globalization and rapid industrialization. Financial institutions in the US are managing their workforce to achieve optimum productivity and enable innovation. Workforce composition has been dynamically evolving due to the increasing reliance on external talent, including contractors, partners, freelancers, outsourced employees, and open-source talent, in addition to regular full-time employees. Therefore, the need to update the skills of employees that work in financial institutions is increasing.
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Compliance Training Market for Financial Institutions in US: Challenge
Factors such as the availability of open-source training platforms will challenge the growth of the market participants. Companies such as 360training.com Inc. (360training.com), the American Bankers Association, and TalentLMS provide free-of-cost introductory compliance training courses with basic modules online. Several companies provide a range of open-source compliance training modules. A combination of multiple products from various open-source companies can cover almost all the functionalities provided by vendors that offer paid introductory courses. Open-source companies provide query, reporting, and federal regulations-related training. The availability of such platforms affects the revenue of vendors and their profitability.
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Compliance Training Market For Financial Institutions In US: Segmentation Analysis
By delivery model, the market has been segmented into offline learning and online learning. The offline learning segment will have significant market share growth during the forecast period, owing to the increasing presence of multinational financial corporations (MNCs) and training providers and their increasing collaborations on offering innovative and customized corporate training solutions as per the needs of customers.
By course type, the market has been segmented into professional courses and introductory courses. Professional courses are domain-specific certification courses, such as Risk Management Professional Certificate and Risk Regulation: The Dodd-Frank Act and Advanced Risk Management Professional Certificate. Unlike introductory courses, professional or advanced courses provide detailed descriptions and applications of financial compliance concepts using tools and techniques through exercises.
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Compliance Training Market For Financial Institutions In US Scope
Growth momentum & CAGR
Accelerate at a CAGR of 16%
Market growth 2021-2025
USD 1.22 billion
YoY growth (%)
Performing market contribution
US at 100%
Leading companies, competitive strategies, consumer engagement scope
Association of Certified Anti-Money Laundering Specialists LLC, Bank Administration Institute, Edcomm Inc., Euromoney Institutional Investor Plc, Financial Industry Regulatory Authority Inc., Lorman Business Center LLC, NAVEX Global Inc., ProBank Austin, Regulatory Affairs Professionals Society, and Thomson Reuters Corp.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
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Table of Contents
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Delivery Model
- Market segments
- Comparison by Delivery Model
- Offline learning - Market size and forecast 2020-2025
- Online learning - Market size and forecast 2020-2025
- Market opportunity by Delivery Model
Market Segmentation by Course Type
- Market segments
- Comparison by Course Type
- Professional courses - Market size and forecast 2020-2025
- Introductory courses - Market size and forecast 2020-2025
- Market opportunity by Course Type
- Market drivers
- Market challenges
- Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Association of Certified Anti-Money Laundering Specialists LLC
- Bank Administration Institute
- Edcomm Inc.
- Euromoney Institutional Investor Plc
- Financial Industry Regulatory Authority Inc.
- Lorman Business Center LLC
- NAVEX Global Inc.
- ProBank Austin
- Regulatory Affairs Professionals Society
- Thomson Reuters Corp.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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