Parallel Markets

About Parallel Markets

Parallel Markets operates in the financial technology sector, providing a comprehensive solution for Know Your Customer (KYC) and accreditation processes. The company serves financial platforms, including banks, investment firms, and other financial institutions, by offering a streamlined onboarding process for both individuals and businesses. Parallel Markets integrates KYC, Anti-Money Laundering (AML), accreditation, and beneficial ownership mapping into a single platform that can be accessed via web and mobile applications. The business model revolves around a subscription-based service, where clients pay for access to the platform and its features. Revenue is generated through these subscriptions as well as through API integrations that allow clients to extract validated data directly into their systems. The platform ensures bank-level security with encrypted data storage and robust authentication controls, while also providing 24/7 fraud protection by monitoring international sanctions lists and other watchlists in real-time. An admin dashboard allows clients to track all investor data, ensuring compliance and reducing internal costs by up to 60%. Additionally, Parallel Markets boasts an 80% completion rate for onboarding flows, significantly reducing investor drop-off rates.