APAC Master Data Management Market is anticipated to expand at a CAGR of 13.4% from 2021 to 2028
APAC Master Data Management Industry for Financial Services Overview The APAC master data management market for financial services size was valued at USD 1.21 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 13.4% from 2021 to 2028. The increasing need for customer retention strategies and compliance are the major factors driving the market growth. The Master Data Management (MDM) solution provides enterprises with a view of all the users’ data to ensure that the users comply with government-imposed regulations such as Dodd-Frank, Basel II/III, FATCA, AML, HMDA, and OFAC. The solution also facilitates data linking for easy access. Furthermore, it provides detailed user information such as demographics, addresses, identifiers, name, and customer account relationships for applications supporting KYC, OFAC data, AML, and fraud analysis and for governing regulatory compliances. When implemented in banking and financial organizati...