Orchestrates customer journey via customizable workflows.
E-Signature
Contains e-signature functionality.
Data Capture
Captures customer data through digital forms.
Auto-Capture
Uses OCR to scan customer documents, extract data, and auto-fill forms using the extracted data.
Identity Verification (2)
ID Scanning
Scans and verifies customer identification documents.
KYC
Runs KYC checks on customers using information gathered in the application.
Digital Workflows (3)
Logic and Conditions
As reported in 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.
No-Code Or Low-Code
13 reviewers of Parallel have provided feedback on this feature.
Provides the user with a no-code or low-code environment in which they can build applications and workflows, including drag-and-drop features.
Document Management
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.
Forms (3)
Data Mapping
This feature was mentioned in 11 Parallel reviews.
Integrates data and processes from multiple sources into a single system.
Templates
Based on 12 Parallel reviews.
Build interfaces once and use them across one or more processes.
Mobile-Friendly Forms
As reported in 11 Parallel reviews.
Gives the user the ability to build and use forms on mobile devices.
Automation (2)
Workflow Automation
Based on 12 Parallel reviews.
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.
Real-Time Updates
11 reviewers of Parallel have provided feedback on this feature.
Processing changes to data sources and applications as changes are made in real-time.
Fraud Detection (4)
Name Matching
The solution uses intelligent algorithms like fuzzy matching to identify potential risks.
Watch List
Create watchlists that can include sanctions lists (e.g., Dow Jones, WorldCheck, WorldCompliance, and Accuity).
Scoring
Score persons and organizations based on their history and risk potential.
Workflows and Alerts
Standard workflows to assign workload and to alert users based on predefined triggers.
Compliance (2)
Due Dilligence
Manage due dilligence processes such as Customer Due Diligence and Know Your Customer.
Regulations and Jurisdictions
Comply with regulations from multiple jurisdictions such as OFAC, UN, EU, OSFI, UK and AUSTRAC or FATCA.
Reporting (3)
Compliance Reports
Ability to generate standard reports for compliance purposes such as FATCA/CRS, SARS/STR and SWIFT.
Suspicious Activity
Display suspicious activity by period, risk type, person or organization.
Real-Time Dashboards
Dashboards to provide real-time data on suspicious transactions, persons, or organizations.
Generative AI - Anti Money Laundering (1)
Risk Scoring
Has integreated AI features to assess and assign risk scores to transactions and customer profiles, enabling prioritized investigations based on potential threat levels.
Agentic AI - Anti Money Laundering (1)
Decision Making
Makes informed choices based on available data and objectives
Agentic AI - Digital Customer Onboarding (1)
Decision Making
Makes informed choices based on available data and objectives
Agentic AI - Digital Process Automation (DPA) (3)
Cross-system Integration
Works across multiple software systems or databases
Proactive Assistance
Anticipates needs and offers suggestions without prompting
Decision Making
Makes informed choices based on available data and objectives
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