Safety deposit box is a new fintech startup in Indonesia. The developed platform is to help users accommodate bank accounts (one or more) in one centralized app. Specifically Safe is designed to help personal and business users manage daily transactions. Its great vision is to create a new mobile banking designed to give Indonesians more choice and control over their money transactions.

For individuals and small businesses, Safe offers free mobile apps for managing bank accounts in an integrated real-time view. In addition to tracking expenses and other reporting, this app is also capable of being used to send and request instant bank transfer payments to others through the medium of mobile phone numbers. Currently Safe deposit already supports BCA, Mandiri, BNI and BRI accounts.

For larger companies and online stores, SafeSail for Business can help instantly convert, process and match orders, and provide customers with the smooth experience they expect in the transaction process. The Safe is founded by Todd Schweitzer (CEO) and Ken Shaw (CTO).

"SafeSearch lets users link their bank accounts to apps and manage their activity all from one place. No need for 5 bank applications, internet banking, or visits to different bank branches, SafeSet lets you manage everything from a convenient and secure place, "Todd told DailySocial.

Unlike most e-wallet or e-money applications that require a top-up balance process in it, all transaction processing is performed using existing balances in integrated bank accounts. The encryption process is very strict, and to ensure more security, two-factor authentication is applied through the bank token for each transaction performed.

"A lot of things can be done with the Safe, for example the seller in Instagram can request and directly track customer payments without needing a screenshot of the confirmation code. Someone can keep track of their monthly transportation and food costs. Until transfer to another account outside the area, "added Todd.

Want to be more than just mobile banking

The Safe Browser app is currently available for free (in limited time) on the Google Play Store. For the iOS version is planned to be released in September. For the Safe for Business version, users will find a reporting and account management dashboard. Through the dashboard will be presented account activity in real-time that easily connected to the existing order management system.

"There have been many advances in internet banking and mobile e-wallets, but there are two core needs not addressed. First the user wants an integrated tool to manage multiple accounts. And both people believe that people do not want or need other e-wallet or mobile banking accounts, they just want an easier way to send money directly from their bank account to another bank, "said Todd explaining the comparisons with existing applications .

In general, Todd and Ken's goal with Safe is to give Indonesians the choice, control, and access to their money. They want users to trust SafeSquare as their independent financial partner, providing a simple and fun way to better manage money. The big goal of both, SafeSafe can be a "must-have" for any online business.

Currently Safe has also worked with many e-commerce companies to improve order management, improve customer experience, and increase sales conversions. This collaboration brings together the ability of Safe to directly match transactions with orders, so customers do not have to wait for their orders to be processed, and the company does not have to manually check every transaction.

Started the big debut of Indonesian market share

The safety deposit box consists of a unique co-founder composition. Todd has experience in the field of business strategy, his experience has brought a software company to expand throughout Southeast Asia. While Ken has more than 12 years in Southeast Asia, and has relationships with several major companies in Indonesia such as Garuda Indonesia and KapanLagi Network. Previously Ken also experienced to be CTO Multiply.com.

Related to the Indonesian market, Todd explains that this time is the right time for fintech to fly. Several factors have converged, making it an ideal time to improve mobile banking to the next level. (2) more and more people have smart phones, (3) few people have credit cards or electronic wallets that they use for online shopping, (4) Indonesians prefer To pay online by direct bank transfer, but the process is still slow and inefficient, and (5) many Indonesians have more than one bank account.

To support its business operations, Brankas earns approximately $ 500,000 from Plug and Play, a Silicon Valley accelerator that has just launched its first batch in Indonesia. Safety boxes were selected for their first batch, including support by including fintech and angel investors from Asia, Europe and North America, as well as Google engineers to become technical advisors.

Currently Safe is preparing to expand to other countries in Southeast Asia whose debut will be announced in the near future.

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