Parity wallet was founded by Parity Technologies, a company based in London and Berlin under the ownership of Dr. Gavin Wood who was a cryptocurrency enthusiast.
Parity is more than a wallet that can be used for basic wallet use like storing, buying and selling of cryptocurrency assets. This is because of its added features. It is designed to facilitate the fastest between ethereum Platform and individual computers. Hence it is suitable for storing ethereum, erc-20, sending and receiving payment, buying and selling of Ether and ICO token. You can use for mining, investing in ethereum or even add a wide variety of Dapps.
It is in form of a client that can be easily integrate with browsers like Firefox, chrome etc. It is suitable windows, Macs, Ubuntu but not for mobile devices.
The security, speed and privacy it granted is high profile. This is because it was designed with Rust programming language which is a low level language known for all this features.