COLUMBIA, Md., March 3, 2015 – IndiSoft announced today an agreement with Baltimorebased 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-todate 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."
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