Parallel Markets helps investment firms, banks, funds and institutions verify who their investors and business clients are before money changes hands. It is now part of iCapital and operates as iCapital Identity Solutions.
Its core idea is a reusable investor identity. Instead of every firm repeating the same identity, business and anti-money-laundering checks, an investor verified once can carry that record into the next onboarding.
At A Glance
| Vendor | Parallel Markets, now iCapital Identity Solutions |
|---|---|
| Category | Identity verification, KYC, KYB and AML compliance for investment onboarding |
| Identities covered | Individual investors, businesses, funds, trusts and their beneficial owners |
| Deployment | Hosted platform with dashboard, no-code embed and APIs |
| Customers | AppFolio, Fundrise, Fool Ventures |
| Ownership | iCapital (2025) |
| Market classification | Identity Verification |
What Parallel Markets Does
Verifying an investor or a business client is slow and repetitive, and firms in the same deal often check the same people. Parallel Markets keeps KYB, KYC, AML and CFT information in a secure data locker and shares it with the owner’s permission, so a verified record can be reused rather than rebuilt. Each verification a firm runs adds to that record. The company concentrated on fund managers and the broader private wealth channel, where investors move between many funds and platforms.
Products
Investor Onboarding
Investor Onboarding gives fund managers and platforms a customisable flow for bringing on individuals, funds and trusts without manual paperwork. It verifies identity documents, matches applicants against public and private records, and screens them against global AML, OFAC and sanctions lists. Compliance teams review flags and approve investors in a case management dashboard.
Business Verification
Business Verification handles Know-Your-Business checks for firms onboarding companies rather than people. It maps ultimate beneficial owners, links entities to their control persons, collects documents such as articles of incorporation, and screens against PEP, OFAC and sanctions lists and adverse media, with white-glove support for the businesses being onboarded.
Accreditation
Issuers raising money under Rule 506(c) must verify that investors are accredited, and this service does that verification for them, through iCapital Markets LLC, an affiliated registered broker-dealer. More than $25 billion has been raised through these services, and customers see a reported cut of more than 90% in onboarding time.
AML Monitoring
Perpetual Risk Monitoring keeps checking clients and investors after onboarding, so a firm learns when a client becomes a sanctions or reputational risk. It screens against sanctions lists from 190 countries, including OFAC, UN, EU and HMT, plus PEP, law enforcement, insolvency and adverse media sources, and raises real-time alerts.
Entity Data Manager
Entity Data Manager is aimed at corporate and institutional banks with complex client structures. It builds, cleans and stores entity relationship graphs and maps ownership, replacing scattered customer records with one maintained view.
ICapital Investor Passport
The Investor Passport is the investor-facing form of the reusable identity. An investor presents an already verified profile to a new firm instead of starting again.
How It Works
Parallel Markets runs as a hosted platform. A firm can add it to its website with a single line of code, have Parallel build a custom landing page, or connect directly through APIs and pull validated data into its own systems. Verified data sits in the data locker and is shared per firm with the investor’s permission. Administrators track investors and accreditation statuses in the dashboard, and names are added to monitoring from the dashboard or by API, with matches resolved in either place.
Identities And Systems Covered
| Individual investors | Identity documents, records matching, accreditation status and sanctions screening |
|---|---|
| Businesses and entities | Beneficial owners, control persons and entity relationship graphs |
| Funds and trusts | Onboarding flows for fund and trust investors |
| Screening data | OFAC, UN, EU and HMT sanctions lists, PEP and adverse media sources |
Company Background
| Leadership | Tony Peccatiello, co-founder and CEO, who joined iCapital with the acquisition. |
|---|---|
| Headquarters | United States. |
| Ownership | Acquired by iCapital in 2025; the business now trades as iCapital Identity Solutions. |
Note: This overview is compiled from Parallel Markets’s publicly available information as of 3 November 2026. It is provided for information only. NHI Mgmt Group does not endorse any vendor, and nothing on this page represents the opinions of NHI Mgmt Group.