Parallel Markets
Parallel Markets built investor identity and onboarding services, now branded iCapital Identity Solutions.
Competitive Advantages
Which advantages over its rivals hold up, and why are they hard to copy?
The company combined accreditation verification, business verification, investor onboarding, and ongoing AML monitoring in its published product catalog. This breadth links initial identity collection with later compliance review for both individual and institutional clients.
Parallel Markets also offered a reusable Investor Passport across participating workflows. Its published approach let clients reuse identity information while compliance teams reviewed documents, mapped beneficial owners, and monitored flags from a shared onboarding process.
Memo
What is the investment case, and what must be true for it to hold?
Parallel Markets served investment onboarding and compliance teams with identity collection, KYC, KYB, and accreditation workflows. The former company site now presents these capabilities under the iCapital Identity Solutions brand and directs future service updates to iCapital.
The company and its acquirer describe continuity of the investor identity product through the acquisition. The former site lists the individual workflow areas and states that accreditation verification is completed through affiliate iCapital Markets LLC, a registered broker-dealer.
Product Overview
What does the product do for its buyer, and how is it delivered?
Parallel Markets offered onboarding and compliance workflows for investment firms and their clients. Its site identifies investor onboarding, business verification, accreditation, AML monitoring, and entity data management as distinct product areas.
The site describes document collection and KYC for individuals and institutions, beneficial owner mapping for corporate customers, and accreditation verification for issuers. Its Investor Passport is a reusable identity intended to connect those checks across participating investment workflows.