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SAFEBOX® – STORAGE ACCOUNTING FOR EVERYONE
Introduction
The task of managing a large inventory of safe deposit boxes for any institution can, not only be onerous task but also expensive. Properly managed Safe Deposit Boxes unlock a new profit potential and dramatically increase the fee income opportunities. Based on input from functional experts in the financial industry we have incorporated many new and innovative features into this exceptional product. SAFEBOX is one solution that automates entire safe deposit box operation from inventory setup to renting the boxes to delinquency follow-up. SAFEBOX automates renting safe boxes of different sizes, charge variable pricing for personal and commercial users, give discounts, allow multiple co-signers, verify signature and photo-ID before box access and report status of delinquent accounts, status of boxes sorted by branch and size and much more. SAFEBOX not only enables you to manage operations efficiently but also in a cost-effective way.
If customer satisfaction is your goal, then properly automated Safe Deposit Boxes is mandatory.
 

Our functional architects conceived and developed the solution that:

Increases the revenue potential
Monitors the delinquent accounts
Increases Customer Satisfaction
Expands Market Size
Helps in Management and Control of the operation
 
SAFEBOX provides an integrated & comprehensive solution to all the needs of the institution. It is scalable and provides a good fit for any size of organization - from small community banks to multilevel, nationwide institutions. All this can be accomplished without the need to touch a line of code.
This automated Safe Deposit Box Management solution features include:
 
Inventory Setup:
Flexible inventory setup that allows the financial institutions to add their inventory to the system
Easy installation and configuration lets the institutions to define the rates for the various box sizes
 
Rental Rates:
SAFEBOX allows the institutions to define different rates for personal and commercial use for the same box size.
Allows discounts on box rates
Can define rental rates for yearly, semi-annual, Quarterly monthly and weekly
Allows boxes to be rented as complimentary
Promotion pricing which lets the financial institution to change the box rental amount as and when needed
SAFEBOX allows to change pricing for a box size at branch level depending on the demand. It allows introducing "Rate changes" at a future effective date.
 
Box Rental:
Customer information can be taken from core-processing system (or) can be entered directly in to SAFEBOX system
Unlimited co-signers
Signature and photo-Id can be recorded for each renter and co-signers
 
Box Access:
Signature & photo ID verification which provides an easy way to verify the authority of the person accessing the box
Safe Box access history keeps a record of box access information
Access can be prohibited in case of probate court and other legal restrictions
 
Billing and Payment:
Billing and payment tracking which is a main feature of the system that sends out the renewal notices and keeps records of payments received
Box rental can be automatically debited from customer’s accounts
Invoices and auto debit notifications can be generated as per the institution’s standards

Delinquency Follow-up:
Late notices on delinquent accounts will be generated as per the institutions policies
Late charges can be added as an amount or as a percentage of due amount
Drill notices will be generated along with drill charges
 
Wait list:
Customer wait list a feature that ensures that box occupancy is maintained at a maximum possible level
Cross selling safe deposit boxes across branches is possible as one branch can check on the available boxes in other branches of the financial institution
 
General Ledger:
General ledger interface produces General Ledger entries for all monitory activities
All accounting functions related to safe box operation can be handled by SAFEBOX
 
Other Features:
Debit Charges for bad check, lost key etc. is another way to increase the revenue on exceptional cases
User and management reports a very valuable feature of SAFEBOX which generates the number and variety of data and graphical reports for review and analysis. There are large numbers of reports available for each level of the organization. Graphical reports enable different types of analysis for strategic management and presentation of data for review by senior management.
Audit trail report shows any and all changes made to the financial information for verification purposes
SAFEBOX’s in-built security allows the management to control access to the various part of the system
 
Key Features
Ability to maintain Inventory
Ability to follow-up with delinquent accounts with late notices and drill notice
Renewal notices on-time
Box Access History
Photo-Id and Signature verification
Unlimited Co-signers
Different pricing for personal and commercial users
Price change at the branch level or at corporate level
Customer Wait list
Insurance for the contents
Discounts and Complimentary boxes
Management Reports
In-built security
Maintenance of the broke open details of the box
Audit Trail and General Ledger maintenance
 
 
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