As part of its services, your bank can offer safe deposit service to its customers. These boxes or lockers, as they are commonly known, are available in different sizes depending upon the contents that would be placed in the lockers, the demand from customers for different types of lockers, the price or rental that you charge. In this module you can define the boxes, associate them to vaults, create products based on the box specifications and use them in creating contracts.
This chapter contains the following sections:
Apart from creating products and contracts for customers wishing to avail the locker facility, the DL module offers the following features that cover a wide range of services and help you customize your service:
The following sections give you a brief overview of the various functions and features of the DL module.
The definition of boxes/lockers that will be available for customer use can be completely user-defined. This enables you to offer boxes as per market demand and create vaults accordingly.
You can use the Vendor Maintenance feature in Oracle FLEXCUBE to define vendors who will supply you with the boxes as well undertake its maintenance, repair and so on. This feature, which is available as part of Expense Processing, enables you to input vendor details for deposit locker as a one-time maintenance. These can be retrieved as and when they are required.
After you have the box and vendor details in place, you can associate these details to a vault for each branch. Besides this, you can also record the key details for each box in the maintenance. This facilitates easy retrieval of all the relevant information for vaults in a branch.
In the DL module, rental payments for the locker can be collected in the form of cash or from the account of the customer, depending on the convenience and the preference of the customer.
The system also offers you the facility of closing a contract before the expiry date. On successful pre-closure, the locker associated with the contract becomes available for use for other customers.
For customers who have not visited the deposit box for a while or where rental charges are overdue despite repeated reminders, Oracle FLEXCUBE offers you the option of opening the deposit box and recording the reasons for the action in the relevant screen.
The DL module provides you with a means of maintaining details of the people using deposit lockers. It tracks the visitors based on the preferences that you have maintained with respect to the locker operation. This enables you to ensure that only authorized users have access to the locker.
The DL module offers the facility of maintaining details of customers who have requested for lockers. This can be maintained for both existing and new customers. With this facility, customers can be contacted as and when lockers become available thus optimizing the use of lockers for the bank.
Issuance of duplicate keys is also handled in the DL module. Each duplicate key is issued against the original safe deposit box contract which makes tracking of keys easy.