.1.CYBER SECURITY:With increasing reliance on technology and digital transaction,
cybersecurity has become significant concern for the banking industry. Cyber attacks, data breaches, and identify theft post significant risks to both financial institutions and their customers. 2.DATA PRIVACY AND ETHICS:Customer expects banks to handle their personal information responsibly and transparently. Bank must strike a balance between utilizing customer data to provide personalized service and respecting individual privacy rights. 3.CUSTOMER EXPERIENCE AND DIGITAL TRANSFORMATION:Customers now expect seamless, personalized and user friendly digital experiences from their banks. Delivering a superior customer experience while adapting to rapidly changing technologies presents a significant challenge 4.FINANCIAL INCLUSION :Achieving financial inclusion practically in developing countries is an ongoing challenge. Banks need to find innovative ways to teach underserved populations, promote access basic financial services and bridge the digital divide. 5.REGULATORY COMPLIANCE:A regulatory compliance remains a major challenge for banks. Governments and regulatory bodies have implemented strengthen measures to ensure stability, transparency and consumer protection within the banking sector. 6.FINANCIAL STABILITY AND SYSTEMATIC RISK:Banks play crucial role in maintaining financial stability and any vulnerabilities within the banking system can have for reaching consequences. Issues such as a excessive risk taking, high levels of debt and interconnections among the financial institutions can pose systematic risk. 7.CUSTOMER TRUST AND REPUTATION:Trust in the banking sector has been significantly impacted by the past financial crisis.And misconduct. Rebuilding customer trust is essential for banks to thrive. Transparency, ethical practices, personalized services, and proactive communication can help regain and maintain customer trust. 8.ARTIFICIAL INTELLIGENCE AND AUTOMATION: These technologies offer efficient gains and improved customer Experiences. They also raise concerns about the job displacement and algorithmic biases.Banks need to strike a balance between automation and human expertise while ensuring transparency and fairness in the AI driven decision making. EVOLUTION OF INDIAN BANKS. Phase 1:pre independence period (1786-1947):*During pre independence period, over 600 banks have been arrested in the country but only few managed to survive. *During the British rule in India, the East India Company had established 3 banks Bank of Bengal, a.Bank of b.Bombay, c.Bank of Madras and called them the Presidential banks. *These three banks later merged into.Single bank in 1921 which was called the" Imperial Bank of India".* The Imperial Bank of India was the later nationalised in 1955 and was named the State Bank of India which is currently the largest public sector bank. Phase 2: post independence period (1947-1991):*During this period, 14 banks were nationalized between the time duration of 1969 to 1991.*These were the banks of whose national deposits were more than 50 crores. *Nationalisation in the context refers to the process of transforming private assets into public assets by bringing them under the public ownership of the national /state government*In a second phase, seven more banks were nationalised Phase 3: liberalisation period (1991- till date).*In this page, to provide stability and profitability to the nationalized public sector banks, the government decided to set a pay commits to manage the various reforms in Indian banking industry. *The biggest development was in the introduction of private sector banks in India. *RBI Gave license to 10 private sector banks to establish themselves in the country. Provisions of RBI Act in 1934. 1.sec2(e):Scheduled Bank means a bank whose name is included in Second schedule of RBI Act 1934. 2.sec17:Define various types of business which RBI may transact which include acceptance of RBI from.CG/SG without interest. 3.sec18:RBI provides emergency loans to banks on liberal terms against promissory notes. 4.sec(27):The bank shall not reissue bank notes which are torrent defaced or excessively soiled. 5.sec(29):Banknotes will be exempted for the purpose of stamp duty. 6.sec(31):Prohibits issue of promissory note payable to bearer. No person other than GOI or RBI accept or issue promissory note payable to bearer 7.sec(33):Assets of issue Departments shall consist of gold bullion to such aggregate amounts as is not less than the total of the liabilities of issued department and on value.Number of less than Rs 200 cores. 8.sec42(1):Salute Bank must have an average daily balance with RBI. SMART CARD /ELECTRONIC PAYMENT SYSTEM/core banking solution The smart card looks exactly like any other plastic card or an ATM card with an integrated circuit.IC chip installed. 1.ELECTRONIC PAYMENT SYSTEMS:Electronic payment is a financial exchange that takes place online between buyers and sellers.*Content of this exchange is usually some form of digital financial instrument that is backed by a bank or any intermediary, or by a legal tender.*Electronic payment system is a system which allows to the customer or user to make online payment for the shopping. Types of EPS :*E-cash,*E-wallets. 2.MICROSOFT CHECK TRANSACTION SYSTEM:*Movement of the physical instrument is Circulated.*Of the payment instrument is captured along with the MICR data simultaneously.*Clearing process completed based on electronic data and image of the checks.Benefits of the check Transaction system:*Better operational efficiency,* Faster clearing cycle of payment instruments. *Cost saving in terms of storage and transport cost. *Optimal customer satisfaction* facilities Bank to increase productivity. 3.ELECTRONIC CLEARING SERVICE:*Mode of payment received for one transaction so that are reputed to end product in nature. *ECS used by the institutions for the making bulk payment of amounts towards distribution of dividend, interest, salary, pension etc *For bulk collection of amounts towards telephone, electricity, water, reduce tax collections, loan installments Etc. Parties involved in ECS payment system:payee, payer,payees bank,payers bank, clearing house. 4.ELECTRONIC FUND TRANSFER:*Exchange of money from one account to another through computer *cardholder initiated transactions using a payment card, such as a credit or debit card. *Direct deposit payment initiated by payer. *Direct debit payments Sometimes Called electronic checks.*Electronic bill payment in online banking which may be delivered by the EFT or paper check. *Various modes of EFT in India:NEFT,RTGS,UPI And adhar based payment system. 1.NEFT:The NEFT is a nationwide money transfer system which allows customers with the facility to electronically transfer funds from their respective bank accounts to any other account of the same bank or of any other bank network.Neft system with a Max capital of 1,00,000 can be transferred. 2.RTGS:RTGS facilitates to transfer funds from one bank to another in real time hour on a gross basis this transaction isn't put on waiting list and Cleared out instantly.*The minimum value that can be transferredis.Is 2,00,000 and above. /UPI *Aadhaar based payment system:AEPS.Stands for Other Enabled payment system.It is created by the NPCI.Users can use the AEPS service to make transaction on a micro ATM by simply providing biometric information and an adhar number. CORRESPONDENT BANKING AND NRI ACCOUNTS. A correspondent banking relationship involves the provision of a banking services by One Financial institution to another financial institution.*In which the financial institution carry on activities or business at or through permanent establishments in different countries.*It is also possible for one bank to open a correspondence account with another bank that already has existing correspondent facility.Forgot it suddenly.*The banking services provided by the correspondent bank may involve provision of cash management services, international fund transfers, cheque clearing, foreign exchange services, loans and letters of credit.*Correspondent wanging as the banking services are mainly payments, cash management and trade services provided by the banks to customers via other banks. NRI ACCOUNTS.. Types of NRI bank accounts: 1.Non resident externals .Fixed deposits.2.Non resident ordinary. savings account.3.Foreign currency non resident .fixed deposit.4.Resident foreign currency .fixed deposit. 1.NRE Fixed deposits: NRE savings account is open for Indian resident abroad. This account will be help you to transfer foreign earning easily to India. 2.NRO savings account:It is just like any other bank account, which is the only difference that this account is being opened for only those individuals who are leaving India for taking an employment or establishing a business outside India. 3.FCNR.Fixed deposit:These are the deposits are maintained in the Foreign currency and they are completely safe against any exchange rate fluctuations. 4.RFC fixed deposits:It has been specially created for the persons of Indian nationality Are origin returning to India permanently for settlement after having been a resident outside India for a continuous period of at least 1 year LETTERS OF CREDIT A letter of credit is a document from banking guaranteeing that the seller will receive payment in fall as long as certain delivery conditions have been met.In the event that the buyer is unable to make payment on the purchases, the bank will cover the outstanding amount TYPES OF A LETTER OF CREDIT.1.Revocable letter of credit:Revocable letter of credit can be modified or revokedindependently by the issuing bank or the buyer without any notice. 2.Irrevocable letter of credit:Irrevocable letter of credit cannot be revoked or modified without any consent of issuing bank, the beneficiary and the confirming bank .3.confirmed the letter of credit :confirm The letter of credit is any arrangement where bank or financial institutions add its guarantee to the letter of credit. It is used when the seller does not trust the buyers bank or issuing bank. 4.Unconfirmed Letter of credit: Here there is a no added guarantee from another bank/ financial institution. An unconfirmed letter of credit only involves the buyer, seller and issuing bank or buyers bank.5.Transferable letter of credit:Transferable letter of credit is used to when there is a middleman involved or where a company sells the product of another company/Producer. 6.Untransferable letter of credit: An untransferable letter of credit cannot be transferred to another beneficiary. 7.Red clause letter of credit:In a red clause letter of credit, the seller or beneficiary is partly paid or is paid on advance before the goods are shipped and after the receipt of documents and a return confirmation from the seller to the bank. 8.Green clause Letter of credit:The green clause letter of credit The seller received the advance payment not only for purchasing raw materials, packaging and processing of goods, but also for cost incurred for free shipment, ware housing and insurance. TYPES OF BANK. 1.Public sector: A public sector bank is a nationalised bank and its accounts for more than 75% of the total banking sector in the country. They are the banks within the majority of the stakes held by the government. Here is a list of the public sector banks in India.Bank of Maharashtra, Indian Bank of Baroda, SBI Central Bank of India, Union Bank of India, Boi 2.Regional Bank: Regional bank are the larger than community banks and typically have number of the branches that serve individuals and businesses across a particular region. Service rendered by the regional banks service vary between banks, but most regional banks offer most or a all of the following:*Deposit account is like a checking, savings and money market accounts.*Credit cards, *ATMs, *investment brokerage, *insurance, loans, leases and mortgages. 3.Private sector:Private sector banks are the ones with the major stake or equity being held by the private shareholders. All of the banking rules and regulations laid down by RBI are applicable to private sector banks. Here is the list of private sector banks in India:ICICI Bank, IDFC Bank, IDBI Bank, Axis Bank.Karnataka Bank. 4.Payments Bank :The payments banks are relatively new banking model in the country that has been conceptualized by the RBI. The bank is allowed to accept the restricted deposit. This amount is limited to Rs 1lakhs customer. The bank also offers services such as ATM cards, net banking and more. 5.SMALLFINANCE BANKS :Small finance banks are the financial institutions which provides financial service to the unserved and unbanked region of the country. ROLE OF COMMERCIAL BANKS IN SOCIOECONOMIC DEVELOPMENT. 1.Capital formation:Banks play an important role in capital formation, which is essential for the economic development of a country. They mobilize the small savings of the people scattered over a wide area through their network of the branches all over the country and make it available for productive purposes. 2.Creation of a credit:Banks create credit for the purpose of providing more funds for development projects. Credit creation leads to increased production, employment, sales, and prices. 3.Generalizing the funds towards productive investment:Banks invest the savings mobilized by them for.Productive purposes.Capital formation is not the only function of commercial banks.. 4.Encouraging right type of industries:The banks grant loans and advances to manufacturers whose products are in great demand. In this way they help not only for industrialization of the country but also the economic development. 5.Banks monetize debt:Commercial banks transform the loan to be repaired after the certain period into cash, which can be immediately used for the business activities, manufacturer and wholesale traders. 6.Finance to government:The government is acting as the promoter of the industries in undeveloped countries for the which finance is needed it.Banks provide long term credit to the government by investing their funds in government securities and short term finance by the purchasing treasury bills. 7.Employment generation: After the nationalization of big banks, the banking industry has been grown to a great extent. Banks branches are opened frequently.Which leads to the creation of.Employment Opportunity. 8.Banks promote entrepreneurship:l In recent days, banks have assumed the role of developing entrepreneurship, particularly in developing countries like India by including new entrepreneurs to take up well formulated projects and provide counseling services like technical and managerial guidance. PROVISIONS OF BANKING REGULATION ACT. 1.Prohibition of trading (Sec-8):According to the Section 8 of BRA, a banking company cannot directly / indirectly deal in buying, selling or bartering of goods. 2.Non banking assets (sec-9):According to section 9 A, banking company cannot hold any immovable property.Howsover acquired ,excited for It's I wanna use for any period exceeding 7 years from the date of acquisition thereof. The company is permitted within the period of seven years to deal the our trade in any such property for facilitating the disposal. 3.Management (Sec10): Section 10A states that not less than 15% of the total number of the members of the Bod of Banking Company shall consist of persons who have special knowledge on practical experience in one or more of the following fields.*Accountancy, *agriculture and rural economy.* Banking, *Cooperative* economics, *Finance *law,*ssi 4.Floating charge (Sec14 ):It states that the banking company cannot create a floating charge on any company. It can be created only by the getting the certificate from RBI. Otherwise the floating charge will be invalid.5.Statutory liquid reserve ( Sec 24(2)):Under Section 24 to every banking company has to maintain the reserve in the form of cash, gold or any approved securities. This reserve is created at 25% to 40%. The SLR is decided by RBI and published in the official Gazette 6.Cash Reserve :All scheduled banks have to maintain the reserve of 5% of the deposit with the RBI. This percentage can be raised up to 15% of by RBI.All non scheduled banks are also required to make this reserve up to 3% of the total deposit with RBI. SIGNIFICANCE OF ASSETS LIABILITY MANAGEMENT. 1.Liquidity risk:From ALM perspective, the focus is on the funding liquidity risk of the bank mining is ability to meet its current and future cash flow applications and collateral needs, both accepted and unaccepted. This machine does include the bank liquidity benchmark price in market. 2.Interest rate risk:The risk of losses resulting from movements in interest rates and their impact on the future cash closure generally because a bank may have a disproportionate.Amount of fixed or variable rates instruments on either side of the balance sheet. One of the primary causes are mismatches in terms of bank deposits and loans. 3.Current risk management: a risk of losses, resulting from movements in exchanges raised to the extent that the cash flow assets and liabilities are denominated in the different currencies. 4.FundingAnd Capital Management: it is the dynamic and ongoing process considering both short and long term capital needs and coordinated with the banks overall strategy and planning cycles. 5.Profit planning and growth. PURPOSE AND OBJECTIVES.ALM *An effective technique aims to manage the value mix, maturity rate, sensitivity, quality and liquidity of assets and liabilities as whole so as to attain predetermined accepted risk/ reward ratio. *To stabilize, stabilize short-term profits, long-term earnings and long-term substance of the bank. The parameters of the stabilizing ALM system are.A .net interest income. B .net interest margin. C. economic equity ratio. PREREQUISITES OF ALM 1.Awareness for ALM in the bank, staff at all levels, supportive management and dedicated teams. 2 .Of reporting data from branches,/ other departments. 3.Computerization. Full computerization, networking. 4.Insight into the banking operations, economic forecasting, computerization, investment credit. 5 .Linking up ALM to future risk management strategies .TYPES OF LOANS. 1.Home Loan :Home loans are taken by the people for a variety of home related purposes such as the construction of home, home renovation, home extension, buying of a property or land etc.TYPES :Home purchase loan, home construction loan, Home extension loan, home renovation loaner land purchase loan. 2.Personal Loan :This type of loan is given to the individuals after accessing their creditors based on their profession or business or any other sources of income. The loan can be utilized for any purposes, for example, paying debt,Marriage expenses. 3.Business Loan: This type of loans is provided to the other existing business or those venturing into new business. It is very important for the individuals to have a clear cut business plan.As it is the most important requirement to the convenience bank that your.Balance has the capability of repayment.Banks then rely on individuals background.Assets, property, previous loan history and deduction towards work. 4.Education loan: It is required by And product to the students who want to pursue higher education in a resident country or abroad. The loan takes care of the fees of institution including examination and laboratory fees, travel expenses for abroad, cost of book and equipments required, any insurance for the student . 5.Good loan: it is considered as one of the safest methods as the loan amount is provided on the basis of the security submitted. Amount ranging from rupees 5 to 25,00,000 can be taken as a loan against good amount equivalent to 80 to 90. Percentage of the total value of gold is given as loan to the borrower. 6.Vehicle /car loan:Compared to other loans, it is easier and simpler to take vehicle loans. It involves the less paperwork and around 3:00 to 6:00 working days are required to get the clearance. The interest rates vary from the bank to bank based on their bank interest rate.The repayment process involves EMI and early repayment options. OVERDRAFT FACILITIES. 1.International Short Term Loan: the account holders find themselves short of money and uh, knowingly makes an.Insufficient funds. They accept the associated fees and.Cover the OD with these Net deposit. 2.Failure to maintain an accurate account register: the account holder doesn't accurately account for activity.On their account and overspends through negligence. 3.Temporary deposit hold:He deposed me to the account and we placed on hold by the bank. This may due to Regulation CC or due to individual bank policies, the funds may not be immediately available to lead to OD fees 4.Merchant error: A merchant may improperly debit a customer's account due to human error. 5.Bank fees : the bank charges a fee unaccepted to account holder creating a negative balance or living insufficient fund for a subsequent debit from the same account. 6.Bank error: A check between POST for an improper amount due to human or computer error, so an amount much larger than the maker intended may be removed from the account. FUNCTIONS OF COMMERCIAL BANK#Primary functions 1.Accept deposit:The bank takes deposits in the form of the savings currents and fixed deposits. The surplus balance is collected from the firm and individuals are lent to the temporary requirements of the commercial transactions. 2.Provides loan and advances:It is another primary function of the commercial banks. When a bank receives the money, a certain part of the ITS deposited in the reserves, while the remaining is dispatched in the form of loans. 3.Credit creation: When customer is provided with the credit or loan, they are not provided with the liquid cash. In fact, a bank account is opened for the customer and then money is transferred to the account. #.Secondary functions.1.Overdraft facility:It is an advance given to the customer by keeping the current account to overdraw up to the given limit. 2.Purchasing and selling of the securities: the bank offers you with the facility of selling and buying the securities. 3.Locker Facilities: A bank provides a locker facilities to the customers to keep their valuables documents safely. The banks charge a minimum of the annual fee for the services. 4.Paying and collecting the credi: It uses different instruments like a promissory note, checks and bill of exchange. 5.Money remittance :banks remit the funds of the behalf of their customers from the one place to another. ROLE OF RESERVE BANK AND GOI AS REGULATOR OF BANKING SYSTEM. 1.The issuer of bank notes:The most important role of the Arabia is issues of currency notes and coins. Except the ₹1.00 note and coins which are issued by the Ministry of Finance, all other notes bear the signature of the RBI Governor. 2.Banker to the government :Another chief role of RBI is that the takes care of banking needs of the government which includes maintaining and operating deposit accounts of the government, collecting the receipts of the funds and making payments on behalf of the Government of India. 3.Custodian of cash reserve of commercial banks: Commercial banks are required to maintain the cash reserves at the rate decided by the RBI in its monetary policy. 4.Custodian of the Foreign exchange reserve: Another of the important functions of the RBI is maintaining the reserve of the foreign currencies that enables the RBI to deal with in any crisis situation. 5.A lender of the last resort:Often regarded as the banker of the bank, so the RBI acts as a parent to all commercial banks in India. Thus, it becomes the lender of the last result for all banks when they are in the crisis situation.GOI as a regulator of banking system.The government is very influential in all aspects of the financial world. Government revolutions and policies affect the overall economy and directly impact the operations of the financial institutions.Government regulate and influence finance of every kind. TYPES OF RELATIONSHIP BETWEEN BANKER AND CUSTOMER. 1.Debtor and creditor:Bank( Debtor)and customer (creditor). When a customer deposits money in his account, the money is to be considered as the money of the depositor. So he has the right to withdraw it at any time as per the rules of the bank.There, the bank is the debtor and the customer is the creditor. 2.Bailer and Bailee: When a banker takes a charge of his customers valuable goods, he becomes Bailee. The customer who deposits the property in this way is a bailor 3.Mortgager and mortgage:When a banker accepts real estate like land and building etc.as security of loan by way of mortgage. The relationship becomes that the mortgager and mortgage. Here customer is mortgager and bank is mortgagee. 4.Pledger and pledgee:When customer pledges(promises) Certain assets or security with the bank in order to get a loan. Here customer becomes the pledger and bank becomes the pledgee. 5.Licensor and licensee:When a banker gives a sale deposit locker to the customer, so the banker will become the licensor and customer will become the licensee. 6.Trustee and beneficiary:If customer deposits securities/valuables with the banker for the safe custody, banker becomes the trustee of his customer. The customer is the beneficiary, so the ownership remains with the customer. 7.Advisor and client:When a customer invites in the securities, the banker act as any advisor. Here, the banker is an advisor and customer is a client. 8.Principal and agent: Agent is a person who act as one who is employed to do any act for another or to represent another in dealings with the third person. The person for whom work is done is called the principle. BANKERS LEGAL DUTY OF DISCLOSURE AND RELATED MATTERS. 1.Disclosure of information recorded by law.A banker is under statutory obligation to disclose the information relating to his customer.Account when the law specifies required. The banker would therefore be justified in disclosing information to meet the following statutory requirements *under the Income Tax Act* under the Company Acts. *Disclose the policy* under the Foreign Exchange Recollection Act.Disclose permitted by the bankers practices and usages.1.With express /implied consent of customer:There will be justifiable in disclosing any information relating to his customers account with the letters of the consent. The consent of customers may be expressed or implied. 2.To protect his interest:the banker may disclose the state of his customer account to protect his interest legally. 3.Bank reference:Banker follows the practices of making necessary inquiries about the customers.Their surroundings or the acceptors of the bills from other bankers?There is an established practice among the bankers and justifiable because an implied consent of customer is presumed to exist. 4.Duty to the public to disclose the banker may justify disclosing any information relating to his customers account when it is due to the public to disclose such as information such as a situation is.a.Bank asked for information From a government official concerning the Commission of crime.b.Where the bank considered that the customer is involved in activities prejudicial to the interest of the country.C.Where the banks book reveals that the customer is contravening the provision of any law.D.Where sizable funds are returned from foreign countries by constituent ENDORSEMENT:The act of a person who is a holder of a negotiable instrument in sending his or her name on the back of the instrument, thereby transferring title or ownership, is an Endorsement. Types of endorsement.1.Blank endorsement :where the endorser signs his name only and it becomes payable to the bearer.2.Special Endorsement: where the endorser puts his sane and writes the name of the person who will receive the payment.3.Restrictive enrichment.Which restricts further negotiation.4.Partial endorsement: which allows transferring to the endorse a part only of the amount payable on the instrument.5.Conditional endorsement :where the fulfillment of some conditions is required. HUNDIS:Hundi derived from the Sanskrit word"hund" and means "to collect".Thus 'Hundi' in vernacular language is an instrument used to collect the money stated in it.Classification/Kinds of hundies. 1.Darshan Hundi:The word darshan means at sight . A hundi payable at sight or on darshan or an demand is known as darshan hundi. 2.Muddati or maid hundi:Muddat or maid Means a specific time period.a hundi payable After a specified time period, he is known as muddati or miad hundi 3.Shah jug hundi:When Hundi payable only to shah example: the person of repute is called Shah jog hundi 4.Nam jog hundi: when Hundi is payable to the person named in it or to his order is called Nam jog Hundi. 5.Firman jog hundi: a hundi payable to order is a firman Jog Hundi. It can be negotiated by the endorsement and delivery. 6.Insan jog hundi: an insan jog hundi is one of which paid only to the person who present it CONCEPTS OF UNIVERSAL HOME BANKING. 1.ATM:Items are primarily used for performing some of the banking instances such as a withdrawal of cash, the deposit of cash, etcetera, by using an ATM card. Convenience/Benefits of ATMs:*To the customer:1.24×7 Excess availability 2.less time for the transactions 3. privacy in transactions 4.any branch /anywhere Banking enabled 5.acceptability of card across multiple bank ATMs.*To the banks: 1.Cost of setting up ATM is lower than setting up a branch. 2.Less hassle in handling cash.3.Enable the bank to display product on the screen.4.It serves as a media for publicity for bank. 2.INTERNET BANKING: A system allowing individual to perform banking activities at home via the Internet is called Internet banking.The automated delivery of a new traditional banking products or services directly to customers through electronic interactive communication channels.Some online banks are traditional banks which also offer online banking, while others are online only and have no physical presence.Advantages: Cost Lesser ,transaction speed, Efficiency ,speed banking, vast coverage.Disadvantages:Security ,learning difficulties,Lack of skilled personal,Technical breakdown,Long startup time,Inexpensive. 3.MOBILE BANKING: Using mobile devices to connect to a financial institution to view your account balances and transaction, transfer funds between accounts, pay bills, receive account alerts, deposit checks, etc*Mobile banking security preventive measures. To banks:1.Secure communication channels, SMS, browser based downloadable apps, 2.assign security labels and user authentication based on payment type, transaction value, number of the daily transaction etc.3.Set a transaction limits, 4.know your vendor, 5.educate consumers on security policies and tools.To consumers:*set a strong password. *Install antivirus software on Smartphone* do not store sensitive data in mobile. *Receive mobile alerts on potentially fraudulent transactions.
(IMechE Conference Transactions) PEP (Professional Engineering Publishers) - Power Station Maintenance - Professional Engineering Publishing (2000) PDF