COLUMBIA, Md.--(BUSINESS WIRE)--IndiSoft announced today an agreement with Baltimore-based Ober|Kaler to assist IndiSoft in enhancing its regulatory compliance modules for the financial industry, which in turn will enable IndiSoft’s clients to better interpret regulatory requirements from such agencies as the CFPB, OCC, FDIC and FRB. IndiSoft is a technology development firm that specializes in systems for the financial services industry, and Ober|Kaler is a national law firm providing integrated regulatory, transactional and litigation services to financial, health care, construction and other businesses.
“Our primary goal is to ensure clients can understand and address key components in the recently established regulations while having confidence in our product offerings,” said Sanjeev Dahiwadkar, president and CEO, IndiSoft. “The CFPB and other financial institution regulatory agencies continue to update regulations enacted after the 2008 financial crisis. We must be able to interpret those regulations based on each clients’ specific requirements. Ober|Kaler’s team has the experience necessary to sort through those regulations and provide us with the necessary insight. They will greatly assist us in helping our clients stay informed as well as adhere to all the compliance regulations.”
Ober|Kaler will provide regulatory guidance to IndiSoft and other legal advice so that IndiSoft can assist its clients to better understand and monitor regulatory changes. The anticipated product offerings include compliance systems for mortgage originations subject to the requirements of the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA). Ober|Kaler will offer guidance and assistance that IndiSoft will use to enhance two of its modules: a Vendor Oversight Compliance module and an additional module that addresses general regulatory compliance topics, including compliance issues relating to mortgage lending and servicing and to the Bank Secrecy Act (BSA)/anti-money laundering (AML).
“We are very pleased that IndiSoft chose Ober|Kaler to provide compliance advice with the vast regulations the industry faces,” said Andrew Campbell, counsel, Ober|Kaler. “IndiSoft works with its clients to solve business challenges; it recognizes the importance of companies having up-to-date information. IndiSoft will have the confidence that it can provide its clients with accurate compliance information. We look forward to working with Sanjeev and his team.”
About IndiSoft LLC
Columbia, Md.-based IndiSoft LLC is a global company that develops collaborative technology solutions for the financial services industry. Through various portals, IndiSoft’s RxOffice® platform (patent pending) enables disparate parties to communicate and transact online in real-time. The transparent workflow technology improves the efficiency of business processes and offers audit, compliance and quality control capabilities to accelerate decision making and support business excellence. For the fourth consecutive year, IndiSoft was named to the Inc. 500|5000 listing of the fastest growing private companies in the U.S. and was selected as one of the Top 50 Service Providers by Mortgage Technology magazine in 2011, 2012 and 2013. For more information about IndiSoft visit its Web site at www.indisoft.us.
About Ober|Kaler
Ober|Kaler is a national law firm providing integrated regulatory, transactional and litigation services to construction, financial, health care and other business organizations. The firm has 130 attorneys, with offices in Baltimore, Washington, D.C. and Falls Church, Va. For more information, please visit www.ober.com.
