White Paper

SAFEBOX - a new approach in Safe Deposit Box Management

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 with already invested inventory on Safe Deposit Boxes. SAFEBOX has been developed by Salem Associates, Inc. to automate safe deposit box operation in a more efficient and cost-effective way. Our technical analysts spent time carefully observing and documenting the safe deposit box operation. Based on input from functional experts in the banking industry we have incorporated many new and innovative features into this exceptional product.

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 and 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:

• Flexible locker inventory setup that allows the Banks to add their inventory to the system
• Easy installation and configuring that lets the banks define the rates for the various box sizes
• Acceptance of multiple co-signers which allows the banks to add unlimited number of co-signors for the rented box
• Signature & photo ID verification which provides an easy way to verify the authority of the person accessing the box
• Promotion pricing which lets the bank change the box rental amount as and when needed
• Customer wait list a feature that ensures that box occupancy is maintained at a maximum possible level
• Safe Box access history keeps a record of box access information
• Billing and payment tracking which is a main feature of the system that sends out the renewal notices and keeps records of payments received
• Delinquent account follow-up which is another important feature of the system that sends of the late notices and drill notices to delinquent customers as per the bank's policies
• Cross selling safe deposit boxes across branches is possible as one branch can check on the available boxes in other branches of the bank
• Debit Charges for bad check, lost key etc. is another way for banks to increase the revenue on exceptional cases
• Yearly, Semi-annual, Quarterly, monthly, weekly rentals is possible with this system
• 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· General ledger interface produces General Ledger entries for all monitory activities

Technical Architecture

SAFEBOX has been designed and developed using the latest hardware and software technologies. SAFEBOX is a Windows based product and has a highly user-friendly interface. It can be deployed either as a stand-alone system or in a LAN/WAN system, with the capability for multiple users to access the system simultaneously. It operates in WINDOWS 95/98 or above environment and does not require any other special software to be installed. Being simple to operate, it does not require any extensive training for the operating staff.

SAFEBOX has been developed using Visual Basic as front-end and MS Access or MS SQL Server as database. It has been designed with the understanding that banking of the future will rely heavily on networked systems. Although we understand that no technical environment lasts forever, this system is, and will remain competitive for many years.