Azimuth GRC Receives Capital Infusion from Andromeda Systems, Inc. (ASI)
Automated compliance software company with a focus on the mortgage industry goes into partnership with ASI and receives $2.5 million capital contribution
October 23, 2019 – Jacksonville, FL, Azimuth GRC LLC today announced it has entered a strategic partnership with Andromeda Systems, Inc. (ASI), a leading provider of professional and high technology services and solutions for clients in the public and private sectors. The partnership includes a $2.5 million capital investment from ASI, which will serve to fuel the company’s growth, expand its software capabilities and reinforce its status as a leader in the multi-billion-dollar governance, risk and compliance (GRC) market.
Azimuth GRC is the developer of an industry-leading GRC platform: a robust, fully configurable and enterprise-wide compliance management system that enables organizations to demonstrate up-to-the-minute compliance while eliminating the time and expense traditionally spent on manual tasks and processes. Azimuth Founder and CEO Rohin Tagra said, “I spent many years working for large mortgage organizations and could not find technology that would efficiently manage compliance and provide updates on the ever-changing regulations in the mortgage business. I founded Azimuth GRC to create technology that did just that.”
Today, Azimuth GRC has the largest structured inventory of laws and regulations available in the mortgage industry, and its platform identifies and categorizes applicable requirements for any mortgage organization, assesses the operational impact and drives the requirements into the organization’s workflow.
“In addition to its extensive contracts supporting the Department of Defense, U.S. civilian agencies and commercial clients, ASI’s Financial Services Division has deep technical and subject matter experience in the mortgage sector,” Tagra said. “This partnership will provide us with additional resources to help our mortgage lending clients achieve their compliance goals more efficiently and with less cost.”
With the capital infusion, Azimuth GRC will expand and enhance the technical capabilities of its software, focusing on compliance issues that are particularly challenging to the mortgage industry.
The investment will also be used to develop a new application for automated compliance testing. Leveraging its proprietary inventory of laws and regulations, Azimuth GRC can now test laws and regulations across the entire loan portfolio.
As part of the new partnership, ASI will take the lead in marketing the GRC product line to federal regulators. “ASI was very impressed with the Azimuth GRC platform and we’ve identified significant applications for federal regulatory agencies to improve program governance while greatly reducing costs,” said Robert Ward, vice president of the Financial Services Division for ASI. “We’re thrilled to partner with Azimuth, which has quickly become a technology leader in the mortgage industry by taking the heavy lifting out of compliance for mortgage companies.”
Carl Sawyer, vice president of Information Systems Divisions for ASI, added, “The potential applications of Azimuth products in the federal and civilian sectors, and especially with the Department of Defense, makes our partnership a win-win for all parties involved.”
Azimuth is forming an early adopter users’ group of automated compliance testing for mortgage lenders and servicers. For more information, please contact email@example.com or call (904) 945-6321.
Representatives from Azimuth GRC will be attending the Mortgage Bankers Association (MBA) convention in Austin, Texas next week. Please visit Booth 218 to learn more about Azimuth GRC.
About Azimuth GRC LLC
Azimuth GRC is a Jacksonville, Florida-based regulatory technology company that helps companies in heavily regulated industries comply with applicable laws. Azimuth GRC provides innovative Software as a Service (SaaS) technology that automates and manages regulatory compliance and risk across an enterprise at a reduced cost. The company was founded by Rohin Tagra, a former executive at JPMorgan Chase, Lender Processing Services and Bank of America. Rohin leads a team with over 50 years of collective experience in financial services, regulatory compliance, risk management and information technology. For more information, please contact firstname.lastname@example.org or (904) 945-6321.
Andromeda Systems, Incorporated (ASI) is an ISO-9001:2015 certified Service-Disabled Veteran Owned Small Business committed to superior technical performance and excellence in customer satisfaction. ASI is headquartered in Virginia Beach, VA, with offices in Arlington, VA; Jacksonville, FL; San Diego, California and ten other cities across the U.S. ASI’s primary services include supply chain, logistics, predictive analytics and data visualization services and software DME services for capital equipment and aircraft sustainability programs while its’ Financial Services specializes in IT Strategy Consulting Services, Business Process Outsourcing, Business Solution Design, Software as a Service, Software Development, Modernization, and Enhancement support services supporting federal loan and financial management programs, while . For more information, visit www.androsysinc.com.