Parallel Features
What are the features of Parallel?
Digital Workflows
- Logic and Conditions
- No-Code Or Low-Code
- Document Management
Forms
- Data Mapping
- Templates
- Mobile-Friendly Forms
Automation
- Workflow Automation
- Workflow Mapping
- Real-Time Updates
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Parallel Categories on G2
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Process Automation
Onboarding Flow Management | Orchestrates customer journey via customizable workflows. | Not enough data | |
E-Signature | Contains e-signature functionality. | Not enough data | |
Data Capture | Captures customer data through digital forms. | Not enough data | |
Auto-Capture | Uses OCR to scan customer documents, extract data, and auto-fill forms using the extracted data. | Not enough data |
Identity Verification
ID Scanning | Scans and verifies customer identification documents. | Not enough data | |
KYC | Runs KYC checks on customers using information gathered in the application. | Not enough data | |
Credit Check | Checks customer credit information. | Not enough data |
Digital Workflows
Logic and Conditions | 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. 13 reviewers of Parallel have provided feedback on this feature. | 94% (Based on 13 reviews) | |
No-Code Or Low-Code | Based on 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. | 91% (Based on 13 reviews) | |
Document Management | Gives the user the ability to manage documents, including versioning and the ability to integrate those document with third-party applications. 13 reviewers of Parallel have provided feedback on this feature. | 92% (Based on 13 reviews) |
Forms
Data Mapping | As reported in 11 Parallel reviews. Integrates data and processes from multiple sources into a single system. | 86% (Based on 11 reviews) | |
Templates | Based on 12 Parallel reviews. Build interfaces once and use them across one or more processes. | 89% (Based on 12 reviews) | |
Mobile-Friendly Forms | As reported in 11 Parallel reviews. Gives the user the ability to build and use forms on mobile devices. | 82% (Based on 11 reviews) |
Automation
Workflow Automation | See feature definition | 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. | 85% (Based on 12 reviews) |
Workflow Mapping | Visually displays connected applications and integrated data. Allows customization and management of workflow structures. 10 reviewers of Parallel have provided feedback on this feature. | 85% (Based on 10 reviews) | |
Real-Time Updates | Processing changes to data sources and applications as changes are made in real-time. This feature was mentioned in 11 Parallel reviews. | 94% (Based on 11 reviews) | |
Robotic Process Automation | Offers the ability to record processes performed by humans to be recreated by bots. | Not enough data |
Fraud Detection
Name Matching | The solution uses intelligent algorithms like fuzzy matching to identify potential risks. | Not enough data | |
Watch List | Create watchlists that can include sanctions lists (e.g., Dow Jones, WorldCheck, WorldCompliance, and Accuity). | Not enough data | |
Scoring | Score persons and organizations based on their history and risk potential. | Not enough data | |
E-filing | Pool data from various sources to auto-populate e-filing of Suspicious Activity Report (SAR) or Currency Transaction Reports (CTR) forms. | Not enough data | |
Workflows and Alerts | Standard workflows to assign workload and to alert users based on predefined triggers. | Not enough data |
Compliance
Due Dilligence | Manage due dilligence processes such as Customer Due Diligence and Know Your Customer. | Not enough data | |
Regulations and Jurisdictions | Comply with regulations from multiple jurisdictions such as OFAC, UN, EU, OSFI, UK and AUSTRAC or FATCA. | Not enough data | |
Internal Policies | Compliance with fraud and risk management policies created by the company using the solution. | Not enough data |
Monitoring
Models | Create behavior models that can be used to detect suspicious behavior. | Not enough data | |
Simuation | Simulate and validate scenarios to address multiple types of risks. | Not enough data | |
Transaction Monitoring | Real-time transaction screening to immediately identify potential risks. | Not enough data | |
Segmentation | Allows users to segment and manage lists of suspicious persons and organizations. | Not enough data | |
QA | Evaluate the quality and performance of the anti-money laundering activities. | Not enough data |
Reporting
Compliance Reports | Ability to generate standard reports for compliance purposes such as FATCA/CRS, SARS/STR and SWIFT. | Not enough data | |
Suspicious Activity | Display suspicious activity by period, risk type, person or organization. | Not enough data | |
Real-Time Dashboards | Dashboards to provide real-time data on suspicious transactions, persons, or organizations. | Not enough data |
