WO2011121600A1

WO2011121600A1 - A system and method for cash instruments

Info

Publication number: WO2011121600A1
Application number: PCT/IN2010/000315
Authority: WO
Inventors: Ramesh Madhavan
Original assignee: Ramesh Madhavan
Priority date: 2010-03-31
Filing date: 2010-06-17
Publication date: 2011-10-06

Abstract

In view of the foregoing, an embodiment herein provides a system and method for applying an application for cash instruments such as loans and deposits via pervasive devices that uses real time cash instruments data obtained from the rules set by the financial institutions and also allows the customer to select a cash instrument and then to view/select the various financial institutions list and view their e-quotes before applying an application. The system further receives the customer's unique identification number and/or customer's data such as loan amount and monthly payment or deposit amount and yield rate for loans and deposits respectively. In an embodiment of the system, the customer is allowed to select the financial institutions for applying an application and send the application to the selected financial institutions, and also to view and send the documents needed for the application applied.

Description

A SYSTEM AND METHOD FOR CASH INSTRUMENTS

BACKGROUND

Technical Field

[0001] The embodiments herein generally relate to a system and method for applying application for cash instruments such as loans and deposits. Specifically, the embodiments described herein relate to a system and method for allowing customers to apply application for cash instruments via pervasive devices to the financial institutions.

Description of the Related Art

[0002] Conventionally, cash instruments such as loans and deposits are transferred between financial institution and customers. Currently, the financial institution deploys marketing team and agents to market via print and other media's and sell their cash instruments such as loans and deposits to the customers. The marketing team deployed by the financial institution strategizes their marketing approach to find and reach the right customers. In the process of finding a right customers, they may use cold calling, abstract marketing, sales pitches which may become nuisance to customers. Currently, there is no central repository of the customers directly available to the financial institution, and it is generally obtained through the agents, brokers and cash instrument information provider on website those who collect the information about customers.

[0003] On the other hand, a customer must identify the financial institutions that transfer the cash instruments, and also need to know the interest rate, terms and other data of cash instruments of various financia! institutions to find the best interest rate, terms etc., according to his desire before applying a cash instrument application.

l Further, he has to know the documents needed for various financial institutions for applying the cash instruments, which may vary from one financial institution to others. Lack of such information iii a timely, concise, central repository with other key information puts the onus on the customer to surf all such information and come to a final conclusion, which may be laborious and frustrating process. Moreover, the customer may seek guidance from an agent, and the decision of selecting a financial institution is marred by personal biasness, feelings, hunches, opinions of financial institutions, and is further limited by the customer's individual capability to understand the formalities of application which are often makes tedious and time consuming process to choose a right financial institution. In case, a financial institution rejects the application of a customer due to any of the reasons, then the customer has to approach another financial institution for applying a new application, which may result in losing opportunity and lead in financial losses.

[0004] The current available systems not only require the customer's profile information, but are also web-based processes which collect the information of customers and pass it on to the various financial institutions and each of them may offer to the customers at undated schedules, which may frustrate the customers and delay in making decision. These systems may only compare the cash instruments data such as loan interest rate, term [may also referred as loan data] and deposit yield rate, term [may also referred as deposit data] etc. that are available in the database with the customer profile to give the financial institution list and their available cash instrument data to the customer. Further these systems may not provide all the financial institution, but only limited financial institutions without NBFC's. Further the systems may give the financial institution list which are not relevant to the place of customer's interest and also may not allow to select a financial institution based on customer's interest. This is not only creates unavoidable pressure on customers to find the financial institution available near to his place of interest, but also provides time lag cash instruments data, thereby defeating the entire purpose of employing the application system.

[0005] There therefore exists a need in the art to develop an agile, robust and dynamic application system for cash instruments that presents the cash instruments data of financial institutions in a real time manner and also allows both the customers and financial institutions to participate in the system. Such system should not only be done for voice based application but should also be enabled for language based selection. Further such a system should not only work on computer based system, but should rather work various pervasive devices so as to enable the customers make informed objective decision without un-necessarily & ad hoc interruption from the financial institutions.

SUMMARY

[0006] In view of the foregoing, an embodiment herein provides a system and method for applying an application for cash instruments such as loans and deposits via pervasive devices that uses real time cash instruments data obtained from the rules set by the financial institutions and also allows the customer to select a cash instrument and then to view/select the various financial institutions list and view their real-time e-quotes before applying an application. The system further receives the customer's unique identification number and/or customer's data such as customer birth date, number of applicant, collateral, and loan amount and monthly payment or deposit amount and yield rate for loans and deposits respectively. In an embodiment of the system, the customer is allowed to select the financial institutions for applying an application and send the application to the selected financial institutions, and also to view and send the documents needed for the application applied.

[0007] In a further embodiment, the system leverages the pervasive devices for negotiating the cash instruments by the customers and also allows both customers and financial institution to collaborate, negotiate, get best deals, reduce costs and increase revenues and benefit financially. In a further embodiment, the customers are enabled to perform the cash instruments application via voice based mode and also displays all the information in a language as per the customer's choice or default language. In a further embodiment, the customer can recognize the mock experience of entire system and can access the simulator for the assessment & planning tools such as pre-payment benefits, part-payment benefits, pre-closure benefits, loan tracker balance transfer simulator etc., on the pervasive devices. [0008] These and other aspects of the embodiments herein will be better appreciated and understood when considered in conjunction with the following description and the accompanying drawings. It should be understood, however, that the following descriptions, while indicating preferred embodiments and numerous specific details thereof, are given by way of illustration and not of limitation. Many changes and modifications may be made within the scope of the embodiments herein without departing from the spirit thereof, and the embodiments herein include all such modifications.

BRIEF DESCRIPTION OF THE DRAWINGS

[0009] The detailed description is set forth with reference to the accompanying figures. In the figures, the left-most digit(s) of a reference number identifies the figure in which the reference number first appears. The use of the same reference numbers in different figures indicates similar or identical items.

[00010] Fig.1 illustrates a schematic diagram of a cash instruments network system according to an embodiment herein;

[00011] Fig.2 illustrates a schematic diagram of cash instruments system architecture used according to an embodiment herein.

[00012] Fig.3 illustrates a flow diagram of preferred method according to an embodiment herein;

DETAILED DESCRIPTION OF PREFERRED EMBODIMENTS

[00013] The embodiments herein and the various features and advantageous details thereof are explained more fully with reference to the non-limiting embodiments that are illustrated in the accompanying drawings and detailed in the following description. Descriptions of well-known components and processing techniques are omitted so as to not unnecessarily obscure the embodiments herein. The examples used herein are intended merely to facilitate an understanding of ways in which the embodiments herein may be practiced and to further enable those of skill in the art to practice the embodiments herein. Accordingly, the examples should not be construed as limiting the scope of the embodiments herein.

[00014] It is to be noted that even though the description of the invention has been explained using loans and deposits, it should, in no manner, be construed to limit the scope of the invention. The systems and methods of the invention can apply to any cash instruments including a certificate of deposits, bills of exchange, interbank loans, commercial papers and other cash instruments.

[00015] Fig.l illustrates a schematic diagram of a cash instruments network system 100 for allowing customers to apply applications for cash instruments via pervasive devices to the financial institutions.

[00016] In an embodiment, the system enables the customer to connect with the system through the secured connectivity, including but not limited to internet based, GPRS, Satellite, EDGE, or 3G. The customer can download the system application in the pervasive devices such as computer, mobile, PDA, Smartphone, digital TV, set- top-box, and embedded in almost any type of object imaginable, and all communicating through increasingly interconnected networks. The system allows the customer to select the country for applying cash instruments of that country, either at the time of download or at the time applying cash instrument. The system can be configured to allow the customer can select any one of the cash instruments as per the customer's requirement, further can select any one type of the cash instruments such as home loan, personnel loan, auto loan, education loan, commercial loan and so on for loan application, or can select any one type of the cash instruments such as saving, recurring, demand, fixed deposit for deposit application, and then can view the cash instrument data, before applying the application, such as loan amount, EMI, pre- closure amount, validity date, fixed floating, loan interest rate, processing fee, term for loans and deposit yield rate, term for deposits with respect to each financial institution provided in the system through the pervasive devices.

[00017] In a further embodiment, the customer can recognize the mock experience of the entire system and can access the assessment & planning tools such as pre-payment benefits, part-payment benefits, pre-closure benefits, loan tracker, balance transfer simulator etc., on the pervasive devices. Particularly, the loan tracker enables the customer to view the EMI along with principal and interest amount of each month for the entire loan tenure.

[00018] In an embodiment, the system enables the financial institution such as bank to connect with the system through the secured connectivity, including but not limited to GPRS, EDGE, Satellite, 3G or internet based connectivity. The system can be configured to allow the financial institution to view the customer's data and their applications submitted through the pervasive devices. Further, the system can also be configured to create, change and/or set their rules for generating their real-time e- quotes of cash instruments data based on the customer's data obtained from the customers, which includes customer birth date, number of applicant, collateral and also loan amount and monthly payment or deposit amount and yield rate for loans and deposits respectively, customer's unique identification number, and/or based on financial institution's parameters such as total cash instrument amount available/needed, duration, offer period and so on defined by the financial institutions.

[00019] The system therefore enables the customers and financial institution to collaborate, negotiate, get best deals, reduce costs and increase revenues and benefit financially. Further, the system also enables the customers to view the cash instruments data in real-time through the pervasive devices, and the financial institution to set their rules to generate cash instruments data in real-time based on the customer's need and trend.

[00020] Fig. 2 illustrates a schematic diagram of cash instruments system architecture in the preferred embodiment of the invention for applying the cash instruments applications through the pervasive devices.

[00021] In one embodiment, the system 200 can include, but is not limited to, a processors), a network interface(s), a system memory, and an Input/output interface(s) [not shown in Fig]. The network interface enables the customer and financial institution to request for and download one or more application widgets/modules on the pervasive devices from the system. The system 200 includes program modules 201 and/or program data 202 for implementing system and method for applying cash instruments through the pervasive devices.

[00022] In an embodiment, the program modules 201 include a registration module 203, rule engine module 204, application module 205, negotiation module 206, voice module 207, and other module(s) such as download module, data module, documentation module, language selection module, simulation module, financial institution module, and operating systems may also be included for assisting in the functioning of cash instruments application processing. The program data 202 may include cash instruments data 209, financial institution data 210, customer data 211 and other data 212 specific to the system or its application.

[00023] In an embodiment, the registration module 203 can be configured to register and participate in the system by the financial institution. The financial institution can access the information about the customer's data and/or their submitted application, only after the registration in the system, according to an embodiment. The registration module 203 can also responsible for settings the terms and conditions to access the cash instruments system through their pervasive devices. Further the registration module 203 stores all the registered financial institution information and their terms and conditions in the system memory.

[00024] In an embodiment, the application module 204 can be configured to allow the customers to view the cash instruments and select one of the cash instruments as per the customer's requirement, and then select any one type of the cash instruments and view all the financial institution participating for the selected cash instrument.. Further, the customer can select the financial institutions based on category, or his interest, before providing the customer's data, according to an embodiment. In an embodiment, the application module 204 can be responsible to receive the customer's data which includes customer birth date, number of applicant, collateral, and loan amount and monthly payment or deposit amount and yield rate for loans and deposits respectively. Further the application module 204 can also be responsible to receive the customer's unique identification number. In an embodiment, the application module 204 can receive the real-time e-quotes of cash instruments of the selected and/or unselected financial institutions, and display the list of said e-quotes of cash instruments with respect to each financial institution on the pervasive devices instantly. In an embodiment, the customer can select one or more financial institutions from the said displayed e-quote list for applying the application for cash instrument. The application module 204 can also be configured to send the submitted applications along with customer's data to the respective selected financial institutions. [00025] In an embodiment, the rule engine module 205 can be configured to create, change, and set the various rules by each financial institution for generating their real-time e-quotes of cash instruments data and to send said e-quotes to the application module 204. There may be one or more Boolean algorithms for various parameters of customer data and cash instruments data, and to create the rules based on the customer's data obtained from the customers, and/or based on financial institution's parameters such as total cash instrument amount available/needed, duration, offer period and so on defined by the financial institutions. Further, the rule engine module 204 can also be responsible to register, define, classify, and manage all the rules, verify consistency of rules definitions of all financial institutions. Moreover, the rule engine module 204 allows the financial institution officers to modify the rules frequently without the need of IT intervention and hence the system allows being more adaptable with the dynamic rules.

[00026] In an embodiment, the negotiation module 206 can be configured to allow both the customer and financial institution to participate in the negotiation for the cash instruments through the pervasive devices. For instance, in case two financial institutions give the same e-quote for a customer, then the customer can opt for negotiating with both the financial institutions. Accordingly, the negotiation module 206 can enable to negotiate the cash instruments, through including but not limited to the email, chat, voice, data, and camera in any one of the pervasive devices with preferred date & time selected by the customers. In another embodiment, the financial institution can approach the customer at the preferred date & time set by the customers in the pervasive devices, for the purpose of communicating, collecting document and so on related to the applied cash instrument. Therefore, the system enables the customer to negotiate, get best deals and benefit financially. [00027] In an embodiment, the voice module 207 can be configured to receive the cash instruments applications via voice based mode. For instance, the customer can activate the voice based mode, so that the customer can access the whole system and apply the cash instruments application through voice based mode. Further, the voice module 207 can able to receive the customer's data by requesting each data through voice based mode. Further, the voice module 207 can able to provide all the information in a particular voice language as per the language selected by the customer.

[00028] In an embodiment, the download module can be configured to enable the customer and financial institution to request for and download one or more application widgets/modules on the pervasive devices from the system. And the language selection module can be configured to enable the customers to select a language based on the customer's choice and display all the information in the selected language or default language.

[00029] In an embodiment, the documentation module can be configured to display the required documents for processing the cash instruments for the submitted applications by the customers. Thus, the customer can view the documents to be submitted for the selected financial institutions and for the applied cash instruments applications and can also send the required documents electronically to the financial institutions via the pervasive devices, according to an embodiment. In another embodiment, the said documents can also be send through courier or hand over directly to the financial institutions.

[00030] In an embodiment, the simulation module can be configured to enable the customers to view the entire system in a mock trial mode, so that the customers can learn the entire system without others help, which may help in taking appropriate decision.. Further, the simulation module can also be responsible for enabling the customers to access the assessment & planning tools such as pre-payment benefits, balance transfer simulator, loan tracker etc., on the pervasive devices.

[00031 J In an embodiment, the financial institution module can be configured to enable the financial institution access the system in a secured mode at their pervasive devices, and to view the customer's data and submitted applications. Further the financial institution module can enable to access and store the rule engine module 205 at their pervasive devices. The data module can be configured to monitor and store all the data in the system such as customer's data, cash instruments data and financial institution data in the system memory.

100032] Fig.3 illustrates an exemplary method for implementing a system for cash instruments application via pervasive devices. The exemplary method(s) are illustrated as a collection of blocks in a logical flow graph representing a sequence of operations that can be implemented in hardware, software, firmware, or a combination thereof. The order in which the methods are described is not intended to be construed as a limitation, and any number of the described method blocks can be combined in any order to implement the methods, or alternate methods. Additionally, individual blocks may be deleted from the methods without departing from the spirit and scope of the subject matter described herein.

[00033] In an embodiment, a customer downloads 301 the system application widget in a pervasive device from the system. The customer downloads the widget by requesting the system through secured connectivity such as internet based, GPRS, EDGE, Satellite or 3G network systems. The application widget is configured to trigger the application module 204, so that the customer can start to view the cash instrument system. Further the customer selects a country where the cash instrument application needs to be applied.

[00034] At block 302, the customer selects a language as per his mother language or his choice or it is set as default language for accessing and operating the cash instruments system and for applying the cash instruments. The customer can view all the information in the system as per the selected language or default language.

[00035] At block 303, the system gives an option to select the voice base mode to the customer, and the customer can select as either yes or no, further based on his selection the voice base mode will be activated at block 304.

[00036] At block 305, the customer selects any one of the cash instruments provided in the system such as loans or deposits. Further the customer selects any one type of loans such as home loan, personnel loan, auto loan, commercial loan and education loan, or any one type of deposits such as saving, recurring, demand, and fixed deposit.

[00037] At block 306, the customer views the various the financial institution participated for the selected cash instruments. Further, the customer selects one more financial institution based on category or his interest.

[00038] At block 307, the customer provides unique identification number of the customer and also customer's data, which includes customer birth date, number of applicant, collateral, and loan amount and monthly payment or deposit amount and yield rate for loans and deposits respectively. The unique identification number includes but not limited to a national identification number, personal identification number, personal account number, social security number, social insurance number, and identifies card number. [00039] At block 308, the pervasive device displays the list of real-time e-quotes of cash instrument such as loan amount, EMI, pre-closure amount, validity date, fixed/floating, loan interest rate, processing fee, term etc., for loans and deposit yield rate, term etc., for deposits, from the selected and unselected financial institutions. The real-time e-quotes are generated from the rule engine of the financial institutions, and it may be based on the customer unique number and/or customer's data and/or financial institution own parameters.

[00040] At block 309, the customer views the list of displayed cash instrument e- quotes of the selected and unselected financial institutions, and further sorts out based on the customer's selection of any of the cash instruments data.

[00041] At block 310, the customer views the sorted financial institution list/data and their cash instruments data, and in case the customer is not satisfied with the list of displayed e-quotes from the financial institutions, the customer may further go to change his/customer's data at block 307, or in case the customer is satisfied with the list of displayed e-quotes, the customer may move directly to select the financial institution at block 311.

[00042] At block 311, the customer selects one or more financial institutions from the previously selected and/or unselected financial institution list based on his requirement and/or the cash instruments data, and further apply for the cash instrument application to the selected financial institutions.

[00043] At block 312, the pervasive device displays the documents needed for the selected and applied financial institutions, and further enables to send the needed documents electronically via the pervasive devices or via courier or hand over directly or any known way to the financial institutions. [00044] At block 314, the system enables to send the submitted applications and respective customer's data to the selected and applied financial institutions.

[00045] At block 313, the customers may opt for negotiation with one or more selected financial institutions. The negotiation may be performed by using email, chat, voice, data, and camera in any one of the pervasive devices, with preferred date & time selected by the customers.

[00046] In a further embodiment, the customer views the entire system in a mock trial mode, and also accesses the assessment & planning tools such as pre-payment benefits, loan tracker, balance transfer simulator etc., on the pervasive devices.

[00047] The foregoing description of the specific embodiments will so fully reveal the general nature of the embodiments herein that others can, by applying current knowledge, readily modify and/or adapt for various applications such specific embodiments without departing from the generic concept, and, therefore, such adaptations and modifications should and are intended to be comprehended within the meaning and range of equivalents of the disclosed embodiments. It is to be understood that the phraseology or terminology employed herein is for the purpose of description and not of limitation. Therefore, while the embodiments herein have been described in terms of preferred embodiments, those skilled in the art will recognize that the embodiments herein can be practiced with modification within the spirit and scope of the appended claims.

Claims

claimed is:

A system for applying cash instruments comprising;

a registration module responsible for enabling financial institutions to register in the system, and for enabling financial institution to access the system;

an application module responsible for enabling customers to apply the cash instruments to the financial institutions via pervasive devices;

a rule engine module responsible for enabling the financial institutions to create, change and/or set rules for generating real-time e-quotes of a cash instruments; and

a negotiation module responsible for enabling the customers and financial institutions to negotiate the cash instruments.

The system for applying cash instruments of claim 1, wherein said application module further responsible for receiving customer's data from said customers. The system for applying cash instruments of claim 2, wherein said application module further responsible for enabling said customers to view said financial institutions and cash instruments data of said financial institutions.

4. The system for applying cash instruments of claim 3, wherein said application module further responsible for enabling said customers to sort said financial institutions based on said cash instruments data of said financial institutions.

5. The system for applying cash instruments of claim 4, wherein said application module further responsible for enabling said customers to select financial institutions.

6. The system for applying cash instruments of claim 5, wherein said application module further responsible for sending applications to said selected financial institutions via said pervasive devices;

7. The system for applying cash instruments of claim 1, wherein said application module further responsible for receiving said e-quotes generated from said rule engine module of said financial institutions.

8. The system for applying cash instruments of claim 7, wherein said application module further responsible for displaying said e-quotes in said pervasive devices.

9. The system for applying cash instruments of claim 8, wherein said displayed e-quotes are used for applying cash instruments.

10. The system for applying cash instruments of claim 1, wherein said generated e-quotes are based on said customer's data, customer's unique identification number and/or financial institution's parameters.

11. The system for applying cash instruments of claim 1, wherein said negotiation is initiated through including but not limited to the email, chat, voice, data, and camera in any one of said pervasive devices.

12. The system for applying cash instruments of claim 11, wherein said negotiation is initiated only at specified date & time selected by said customer in said pervasive devices.

13. The system for applying cash instruments of claim 12, wherein said financial institution approaches said customer for communicating, collecting document for an applied cash instrument at said preferred date & time.

14. The system for applying cash instruments of claim 1, further comprising a financial institution module responsible for enabling said financial institutions access said system in a secured mode through pervasive devices provided at financial institutions.

15. The system for applying cash instruments of claim 14, wherein said financial institution module further responsible for enabling said financial institution to view said customer's data and said submitted applications.

16. The system for applying cash instruments of claim 15, wherein said financial institution module further responsible for enabling said financial institution to access and store said rule engine module in pervasive devices provided at said financial institutions.

17. The system for applying cash instruments of claim 1, further comprising a simulation module responsible for enabling said customers to view said entire system in a mock trial mode.

18. The system for applying cash instruments of claim 17, wherein said simulation module further responsible for enabling said customers to access assessment & planning tools such as pre-payment benefits, part-payment benefits, pre- closure benefits, loan tracker, balance transfer simulator on said pervasive devices.

19. The system for applying cash instruments of claim 1, further comprising a download module responsible for enabling said customer and said financial institution to request for and download one or more application widgets/modules on said pervasive devices from said system.

20. The system for applying cash instruments of claim 19, wherein said download is performed by requesting the system through secured connectivity such as internet based, GPRS, EDGE, Satellite or 3G network systems.

21. The system for applying cash instruments of claim 1, further comprising a documentation module responsible for enabling said customers to view required documents for processing said applied financial institutions.

22. The system for applying cash instruments of claim 21, wherein said documentation module further responsible for enabling said customers to send said required documents electronically or manually to said applied financial institutions.

23. The system for applying cash instruments of claim 1, further comprising a voice module responsible for enabling said customers to activate voice based mode for applying cash instruments application.

24. The system for applying cash instruments of claim 2, wherein said customer's data are date of birth, number of applicant, collateral, loan amount and monthly payment for loans.

25. The system for applying cash instruments of claim 2, wherein said customer's data are date of birth, number of applicant, collateral, deposit amount, yield rate and term for deposits.

26. The system for applying cash instruments of claim 3, wherein said cash instruments data are loan amount, EMI, pre-closure amount, validity date, fixed/floating, loan interest rate, processing fee, term for loans.

27. The system for applying cash instruments of claim 3, wherein said cash instruments data are deposit yield rate, term for deposits.

28. The system for applying cash instruments of claim 10, wherein said financial institution's parameters are total cash instruments amount available/needed, duration, offer period.

29. The system for applying cash instruments of claim 1, further comprising a language module responsible for displaying all the information in said system in a language as per said customer language selection or default language. :

30. The system for applying cash instruments of claim 1, wherein said customer selects a country where said cash instrument needs to be applied.

31. A method for applying cash instruments comprising:

downloading system application in pervasive devices, wherein said download is performed at pervasive devices of customers and financial institutions; selecting a desired cash instruments, wherein a customer selects said cash instruments ;

providing customer's data, customer's unique identification number in the system;

displaying real-time e-quote of cash instruments of financial institutions; selecting one or more financial institutions based customer's requirement and/or e-quote of cash instruments; and

applying cash instrument application to the selected one or more financial institutions.

32. The method for applying cash instruments of claim 31, further comprising sending applications and respective customer's data to said applied financial institutions.

33. The method for applying cash instruments of claim 31, further comprising displaying required documents for said applied financial institutions.

34. The method for applying cash instruments of claim 31, further comprising negotiating said cash instruments between said customers and said financial institutions.

35. The method for applying cash instruments of claim 31, wherein said e-quote are generated based on said customer's data, said customer's unique identification number.

36. The method for applying cash instruments of claim 35, wherein said e-quote are generated from rule engine of said financial institutions.

37. The method for applying cash instruments of claim 31, further comprising sorting the financial institutions based on the e-quote of cash instruments, wherein said customer performs said sorting.

38. The method for applying cash instruments of claim 31, wherein said download is performed by requesting the system through secured connectivity such as internet based, GPRS, EDGE, Satellite, 3G network systems.

39. A method for applying cash instruments comprising:

allowing customers to view entire system in a mock trial mode, and to access the assessment & planning tools such as pre-payment benefits, part-payment benefits, pre-closure benefits, loan tracker balance transfer simulator on pervasive devices.