The Know Your Customer (KYC) process is essential when initiating a business relationship with a client. However, when the relationship continues over time, it's equally important to maintain ongoing Customer Due Diligence (CDD).

That’s why it’s necessary to regularly update your understanding of your client, their activities, and the source of their funds. You should also verify that their risk profile hasn’t changed—for example, due to new financial sanctions or because they have become a Politically Exposed Person (PEP).

This systematic review of the client’s activity and transactions to ensure they align with their expected behavior and profile is known as monitoring.

Parallel supports you in this monitoring process through several key features, as explained below.

Just like you can perform background checks for sanctions and PEPs during the initial KYC process, Parallel also allows you to carry out continuous checks directly from client profiles.

Using the Background Check property, Parallel automatically monitors for changes in sanctions and PEP lists and alerts you when any relevant updates occur.

By adding search details (e.g., your client’s full name) to the profile, Parallel will automatically notify you if that person appears in a sanctions list during a scheduled renewal.

You can also customize the frequency of these checks based on the client’s initial risk assessment, or choose whether or not to enable continuous monitoring—depending on whether it’s an ongoing business relationship or a one-off transaction.