Storage Accounting for Everyone (SAFEBOX)

Table of Contents

Introduction    SAFEBOX® product scope   SAFEBOX® objectives & benefits   Target customers  

Introduction

The task of managing a large inventory of safe deposit boxes for any institution can, not only be onerous but also expensive. Properly managed Safe Deposit Boxes unlock the safe deposit box's profit potential and dramatically increase the fee income opportunities. SAFEBOX® enables to rent 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 the operations efficiently but also cost-effectively.

If customer satisfaction is your goal, then properly automated Safe Deposit Box operation is one of the right steps! The answer to achieve that goal is SAFEBOX® – A safe Deposit Box automation system.

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SAFEBOX® product scope
· 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

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SAFEBOX® objectives & benefits

Superior Reporting– SAFEBOX® provides number of management reports e.g. Box availability, Box Access history, Accounts Receivable by Branch, by box type etc.

Notices – SAFEBOX® not only produces the renewal notices on time, but it also produces late notices and drill notice as per the bank policy.

Customer Satisfaction – By providing photo-id verification, multiple co-signers and automatic debit of rental fee from the customer account, SAFEBOX® improves customer satisfaction

Audit Trail and General Ledger – SAFEBOX® generates Audit Trail report as well as General Ledger report for all monitory transactions

Price Change – SAFEBOX® allows to change pricing for a box size at branch level depending on the demand level. It allows different pricing for commercial customers. It allows introducing ‘Rate changes’ at a future effective date.

Rental Rate – SAFEBOX® allows specifying rental rate for different rental periods (i.e.) Annual, Semi-Annual, Quarterly, Monthly and Weekly.

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Target customers

Any corporate organization/ bank that rent out safe deposit boxes.

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