SQN Banking Systems Provides Total Security Management for New Safe Deposit Company
-Safe deposit management technology protects personal assets-
Rancocas, NJ, May 12, 2008 – Charter Private Safe Deposit Company, in Princeton, NJ, providing individuals and companies
vault-secured protection of business critical and valuable hard assets, manages its safe deposit operation using
SQN: Safe DepositTM, a PC-based application from Rancocas, N.J.-based SQN Banking Systems.
The application allows Charter Private personnel to efficiently verify customer identity at sign-in by displaying a signature,
photo and unique account information. The software also supports credit card processing, box inventory management and account status.
SQN continues to work closely with Charter Private in customizing the available features to better support the operation and business
processes of the company.
“We chose SQN’s Safe Deposit software because it offers an end to end solution,” said James Medalia, CEO of Charter Private.
“We can generate contracts, manage and track box inventory and maintain a comprehensive activity log of our facility through SQN’s system.”
Charter Private has emerged in an industry that is underserved in the banking world. According to Medalia, many banking institutions are
building new branches that do not include safe deposit storage. “What I have found is that banks don’t want to offer safe deposit services,”
said Medalia. The lack of customer service and availability were the driving forces behind the inception of Charter Private.
“Two years ago I had to get my daughter’s birth certificate from our box at the bank,” said Medalia. “I had to wait in line for a teller and
I was shown to a dark and dingy cubby to sort through my documents. And when I was finished I had to stand in the middle of the lobby, feeling
very vulnerable with my box in hand, and waiting in line for a teller to help me.”
Charter’s facilities are open seven days a week and 24/7 by appointment with comfortable private viewing rooms for clients. Medalia states
that “Charter Private’s commitment to customer service and SQN’s safe deposit box management software delivers the convenience, privacy, and
security which are the fundamentals of our business.”
Medalia sees SQN as “a solid technology partner that we’ll continue to work with as we approach opening our second location.”
SQN Banking Systems is a leading provider of image-survivable check security features, software and products. Charter Private,
founded in 2006, is New Jersey’s first private safe deposit company licensed by the New Jersey Banking and Insurance Department.
About Charter Private
Charter Private is open 7 days a week: 8am to 8pm on weekdays, and 11am to 5pm on weekends. Customers have unprecedented access to their
valuables 24 hours a day by appointment after regular business hours. The annual leases are paid by credit card only. Registration by appointment
is encouraged; box reservations may be made via the web at www.charterprivate.com or by calling (609) 919-1925.
For more information, visit www.charterprivate.com.
About SQN Banking Systems
For more than 20 years, SQN Banking Systems has provided integrated fraud detection and process improvement products for the financial industry,
meeting the needs of financial institutions of all sizes. The SENTRY suite of products includes software for exception item processing, image fraud
detection tools, automated signature comparison, signature verification and display, transaction analysis and safe deposit operations management. More
than 500 SQN customers have improved their earnings and reduced check fraud losses by as much as 84 percent with SENTRY. For more information, visit SQN's
Web site at www.sqnbankingsystems.com.
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