The financial services industry is reeling under old and inefficient technologies which lead to a requirement of extensive internal manual processes. Tasks such as documentation run the chances of getting lost and being illegible, and documents are updated solely at the discretion of the servicers. Complying with regulatory requirements imposed at the internal, state and national levels presents another mammoth challenge. Taking into consideration these challenges and devising products and services that help lawyers, counselors and service providers throughout the industry is Indisoft LLC, they provide web based flexible workflow, and rules based software for the financial services industry.
Founded in 2005, the company is a SaaS provider to the financial services industry focused more on the mortgage space. The company has carved a niche for itself in this segment by providing improved efficiencies for staff and processes through easy to configure workflows while creating rule based engines that help ensure compliance with internal and external regulations."We not only provide efficiency through our technology, but also the much needed transparency through an interactive portal based model," says Sanjeev Dahiwadkar, President & CEO, Indisoft LLC. The company's technology allows audit logging and tracking along with extensive reporting to help servicers and all involved parties meet regulatory requirements.
Suite of Services
Indisoft's suite of products, RxOffice, includes modules such as Compliance, Mortgage, Short Sale Edition, Realtor Portal, Insurer/Investor Edition, Loss Mitigation Edition, Foreclosure Edition, Bankruptcy Edition, Eviction & Litigation Edition, Premium Counselor Edition, and the Mortgage Vendors Edition. These web based applications focus on providing workflow based solutions that address the specific needs of each and every rule intensive loan case work type in the mortgage space.
With a wide gamut of services for the financial services industry, the company has won over prestigious clients such as Hope Loan Port, Navigant, Wingspan, Bank of America, Wells Fargo, Chase and other large mortgage servicers. "In the industry, compliance and auditing are seeing extensive focus along with loan decisioning on non-performing loans which are inclusive of loan modifications, short sales, bankruptcy and foreclosure options," adds Dahiwadkar about the promising verticals.
The Success Mantra
The company that had a rather modest beginning with just one employee has reached new heights of success today by deploying its simple to configure rules based workflow, secure messaging between all parties with the added essential element of complete transparency.
The future looks bright as the company is focused on helping everyone in the industry by ensuring compliance in every part of the servicing world by providing flexible and extensive reporting capabilities to support that effort. "This is inclusive of helping smaller servicers across the country who finds themselves in need of technology such as ours along with counseling agencies out there helping borrowers in the cradle to grave process of a homeowner's lifecycle," adds Dahiwadkar.