Advantages of Digital Labels on Safety Deposit Boxes

A safety deposit box is one of the best ways of protecting and keeping one’s valuables. That is why many individuals rent safety deposit boxes that banks offer. In the United States alone, there are approximately 25 million safety deposit boxes currently on active lease. According to Metropolitan Safe Deposits, one in every three people in Sweden and one in every five people in France owns a safety deposit box.

Banks can enhance their customer service to their patrons by implementing digital labels on safety deposit boxes. Here’s how.

Traditionally, the labels on safety deposit boxes only show the box’s number. With a fully-graphic 2.9” Newton digital label that can display up to seven pages as an alternative, more information can be shown. The digital labels can show the entity the account belongs to, the account number, and a recorded log of the dates the box was opened. 

With this Information Sharing feature, it is easier to see the safety deposit box’s account details without having to open heavy log books or look into the system through a computer. 

Other than showing information, Newton digital labels can help in centralizing them. This is because Newton labels must be paired with label management system software like Aims. These types of software not only allows users to manage the information shown in the labels, but also to centralized that same information. 

So, anytime there are changes entered into the database (i.e., the safety deposit box was reopened, or a previously occupied box became vacant), the labels are automatically updated. With digitalized and centralized labels on the safety deposit boxes, the concern bank personnel are always updated.

Other than showing information, Newton digital labels have Near Field Communication (NFC) tapping capability. NFC tapping capability can open opportunities for an electronic keycard system. Instead of using traditional locks and keys to open, keycards can be tapped on the digital labels to open the safety deposit boxes.

Besides offering patrons a more modern system, NFC-tapping also offers double security or avoid incidents of key getting jammed in the lock. 

Are you a bank owner or manager thinking of ways to improve your safety deposit box services? Then get in touch with SOLUM today and start a discussion with us.