Safe
Deposit Box Processing and Administration
The Centrix Safe Deposit Box (SDB) system provides financial institutions with a
cost-effective solution for safe deposit box processing and administration. SDB
is a comprehensive system encompassing inventory management, billing, reporting
and transaction processing.
Eliminate Manual Controls
Using SDB, customer service is enhanced because all information relative to safe
deposit boxes is available on-line. Staff members can use the SDB user interface
program to access customer records, review billing information, and verify inventory.
Some benefits of the Centrix Safe Deposit Box system are:
- Automated billing and customer notification
- Automated delinquency tracking and reporting
- Automated inventory management
- Comprehensive suite of management reports
- Discount calculations
- Eliminates manual record keeping or spreadsheets
- System security to control access
System Security
Using client server technology, financial institutions can administer safe deposit
boxes centrally or at the branch level. Security parameters enable users to be defined
with various levels of access, thus allowing branch personnel to access the system
for customer service purposes, yet limit overall management and processing to a
specific location.
Inventory Management
SDB streamlines safe deposit box inventory management – something that is critical,
yet often handled in an inefficient, labor-intensive manner. Using SDB's on-line
inventory system, institutions have an efficient and accurate method of managing
safe deposit box inventory and can easily monitor availability levels. When boxes
are rented, or if rental is discontinued, SDB automatically updates the inventory
file to reflect this activity.
Notification, Fee Assessment and Collection
Users of SDB have found that efficiencies are gained by eliminating the manual process
of billing and past due account management. To this end, SDB can accommodate both
manual payments (billing notification) and automatic payment drafts.
If an account is set up for manual payments, customer notification is produced according
to a billing cycle and forecast period. All billing information is recorded for
past due management and reporting while the on-line payment utility enables payments
and reversals to be applied real-time. SDB also provides an audit trail of recent
transaction activity via an on-line payment log.
If an automatic payment is desired, both internal and external DDA / Savings accounts
are supported. SDB will produce an ACH file to be processed via the institutions
standard ACH procedures.
Discount Calculations
SDB also accommodates fee discounts in which the safe deposit box fee is either
waived or reduced. This feature is controlled via discount parameters that are established
by the administrator to define the various discount types and the respective discount
percentage or amount. A discount type is then optionally selected when a safe deposit
box is assigned to a customer.
Comprehensive Reporting
Quite often it is the comfort level of the users that proves fundamental in the
success of any processing system, and providing detailed reports is integral to
this. For this reason, SDB provides both hard copy and on-line access to a comprehensive
suite of activity and management reports. The standard set of reports include:
- Account Balance Listing
- Anticipated Income Report
- Automatic Payment Account Listing
- Automatic Payment Report
- Available Boxes Report
- Billing Statements
- Customer Detail Report
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- Customer Listing Report
- Individual Account Detail Report
- Maintenance Audit Report
- Past Due Report
- Payment Report
- Safe Deposit Box Detail Report
- Safe Deposit Box Listing Report
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Centrix Conversion Services
If the current method of safe deposit box management is via spreadsheets or some
other electronic system, Centrix Solutions can convert this information into the
SDB system. An automated conversion will streamline the implementation and ensure
data accuracy and integrity by eliminating extensive amounts of manual data entry.
To discuss Safe Deposit Box Management in more detail or receive additional information,
contact us via email at
info@centrixsolutions.com or call 402.488.3990.
