Parallel is an agile compliance and onboarding platform designed to eliminate the friction associated with complex data collection and regulatory reviews. By centralizing KYC, KYB, and screening into a unified, no-code environment, it enables organizations to automate their back-office operations and achieve a seamless client experience.
The platform offers an end-to-end orchestration layer that handles the entire customer lifecycle through modular automation:
Automated KYC & KYB: Flexible, adaptive forms that collect identity documents, biometric liveness, and corporate registry data without manual email follow-ups.
Smart Risk Scoring: A fully customizable engine that automatically calculates risk levels based on client inputs, geography, and internal risk matrices.
Continuous AML Screening: Real-time monitoring against global PEP and sanctions lists, including automated alerts for new hits or document expirations.
Mike AI Reporting: A generative AI assistant that synthesizes complex client data into concise risk summaries and audit-ready reports.
Audit Trail & Governance: Automatic logging of every decision and data change to maintain a complete, traceable history for regulatory examinations.
Parallel serves a broad range of non-banking regulated entities that require institutional-grade compliance with a modern user interface.
Law and Accountancy Firms: Major international practices, such as Cuatrecasas, use the platform to digitize their high-volume onboarding and AML workflows.
Fund and Wealth Managers: Investment firms that need to streamline the collection of sophisticated investor documentation and verify complex fund structures.
Fintech and Proptech Companies: Digital-first businesses like SeQura and Brickbro that require rapid, frictionless merchant and customer onboarding to drive growth.
Real Estate and Notaries: Professionals handling high-value transactions who must perform reliable due diligence while maintaining a fast sales cycle.
The primary differentiator for Parallel is its “no-code” approach to compliance orchestration, which allows legal and operations teams to build complex workflows without any engineering support. Unlike rigid legacy systems, its platform is built around the “Parallel Profile”—a living repository that centralizes all documentation, risk scores, and communication into a single source of truth. The platform stands out for its superior user experience, offering “one-click” e-signature integrations and pre-filled forms that significantly reduce client abandonment rates. Furthermore, its specialized Mike AI feature proactively identifies red flags and summarizes cases, shifting the compliance officer’s role from data gatherer to high-level decision-maker. By combining this ease of use with robust auditability, Parallel bridges the gap between operational efficiency and rigorous regulatory adherence.
