What is Parcha?
Parcha is an AI-powered compliance tool designed to make compliance reviews faster, cheaper, and more efficient. It automates the tedious process of manually reviewing customers during onboarding, helping businesses approve more customers quickly while maintaining strong compliance standards. With features like real-time analytics, customizable workflows, and seamless integrations, Parcha is a game-changer for financial institutions, digital banking platforms, and high-risk industries. According to Romeo Ju, CEO of Bancoli, “With Parcha, we can deny businesses that do not meet our BSA/AML requirements 90% faster.”
Parcha Features
- AI Compliance Report: Automates compliance reviews, cutting onboarding times and operational costs.
- Business Check: Verifies incorporation documents, ownership, and tax IDs across multiple languages and jurisdictions.
- Individual Check: Validates government IDs, addresses, and screens for politically exposed persons and sanctions.
- Adverse Media Screening: Filters and analyzes media articles to identify adverse information without false positives.
- Real-Time Analytics: Provides insights into compliance outcomes for better decision-making.
- API and Integration Support: Integrates with existing systems quickly, reducing setup time to days instead of months.
Parcha Use Cases
- Financial Institutions: Use Parcha to speed up customer onboarding and ensure compliance with regulations like BSA/AML.
- Digital Banking Platforms: Streamline compliance checks and reduce fraud risks with automated workflows.
- Cryptocurrency Exchanges: Leverage Parcha to meet AML and KYC requirements efficiently.
- Lending Companies: Validate borrower information quickly and accurately to minimize risk.
- Uncommon Use Cases: Educational institutions use Parcha to teach compliance management, while freelance consultants rely on it for client due diligence.
Conclusion
Parcha is a powerful AI-driven compliance tool that transforms how businesses handle onboarding and risk management. By automating manual processes, it saves time, reduces costs, and enhances accuracy. Whether you’re a financial institution, a digital banking platform, or a high-risk business, Parcha offers the tools you need to stay compliant while scaling your operations. With its real-time analytics, customizable workflows, and seamless integrations, Parcha is the ultimate solution for modern compliance challenges.
