Parallel Features

Orchestrates customer journey via customizable workflows.

Contains e-signature functionality.

Captures customer data through digital forms.

Uses OCR to scan customer documents, extract data, and auto-fill forms using the extracted data.

Scans and verifies customer identification documents.

Runs KYC checks on customers using information gathered in the application.

Based on 13 Parallel reviews. Gives the ability to build a workflow based on business logic or a specific condition in order to route work to different people based on rules.

As reported in 13 Parallel reviews. Provides the user with a no-code or low-code environment in which they can build applications and workflows, including drag-and-drop features.

Based on 13 Parallel reviews. Gives the user the ability to manage documents, including versioning and the ability to integrate those document with third-party applications.

Integrates data and processes from multiple sources into a single system. 11 reviewers of Parallel have provided feedback on this feature.

Build interfaces once and use them across one or more processes. 12 reviewers of Parallel have provided feedback on this feature.

Based on 11 Parallel reviews. Gives the user the ability to build and use forms on mobile devices.

Streamline the flow of work processes by establishing triggers and alerts that notify and route information to the appropriate people when their action is required within the compensation process. 12 reviewers of Parallel have provided feedback on this feature.

Processing changes to data sources and applications as changes are made in real-time. This feature was mentioned in 11 Parallel reviews.

The solution uses intelligent algorithms like fuzzy matching to identify potential risks.

Create watchlists that can include sanctions lists (e.g., Dow Jones, WorldCheck, WorldCompliance, and Accuity).

Score persons and organizations based on their history and risk potential.

Standard workflows to assign workload and to alert users based on predefined triggers.

Manage due dilligence processes such as Customer Due Diligence and Know Your Customer.

Comply with regulations from multiple jurisdictions such as OFAC, UN, EU, OSFI, UK and AUSTRAC or FATCA.

Ability to generate standard reports for compliance purposes such as FATCA/CRS, SARS/STR and SWIFT.

Display suspicious activity by period, risk type, person or organization.

Dashboards to provide real-time data on suspicious transactions, persons, or organizations.

Has integreated AI features to assess and assign risk scores to transactions and customer profiles, enabling prioritized investigations based on potential threat levels.

Makes informed choices based on available data and objectives

Makes informed choices based on available data and objectives

Works across multiple software systems or databases

Anticipates needs and offers suggestions without prompting

Makes informed choices based on available data and objectives