Parallel Markets provides the only KYC/AML and Accreditation solution focused on eliminating redundant investor onboarding processes. With the Parallel Passport, investors like you are able to verify once and onboard with a single click anywhere Parallel is integrated. You can also use the secure Parallel Passport sharing function to expedite your onboarding with any institution not in our network.
A Parallel Passport is a secure system for storing your financial identity information as well as sharing it with counterparties to expedite onboarding processes. Parallel believes that KYC/AML processes should be as simple as clicking a button and with the Parallel Passport this is a reality. The Parallel Passport supports both business entities as well as natural persons.
Many financial onboarding processes are slow, repetitive and insecure. Oftentimes, these processes result in sending sensitive information over insecure channels like email and worse yet they can take weeks or even months to accomplish. With the Parallel Passport, you can complete an onboarding process with any of our partners with a single click.
You can use your Parallel Passport at any of our partners (see our list) by simply clicking on the Parallel Passport button when signing up for their services.
You can also share your Passport with anyone using only an email address using Passport Sharing. Passport Sharing allows you to share the information in your passport with anyone outside of the Parallel network securely and safely. This can help you expedite onboarding processes and sub-doc processes. You must submit the information of the person you would like to share it with as well as send them a secure code to access it. You can turn off this sharing whenever you would like.
Parallel Passport makes it easy to update your Identity information, which can subsequently be shared with any new or existing recipients of your passport.
To do so, simply head to the Passport page in the dashboard and click the Update Information button at the top-right of the Identity Information box.
Alternatively, if you only need to update your Government ID, click the Upload New ID link.