iCapital1 is an alternative investment marketplace for the wealth and asset management industries, while Parallel Markets is a provider of reusable financial identity for investor onboarding, verification and monitorin. iCapital is expected to acquire Parallel Markets. iCapital will introduce the first-of-its-kind reusable KYC/AML passport technology for alternative investments, aiming to eliminate duplicative investor profiles and compliance checks.

Source: https://www.businesswire.com/news/home/20250115839401/en/iCapital%C2%AE-to-Acquire-Parallel-Markets-to-Streamline-Digital-Identity-Investment-Onboarding-and-Compliance-Verification