The Australia and New Zealand

Banking Group (ANZ) launched a new mobile banking service, which

company representatives say will open up new avenues into Cambodia's

traditional cash economy. Known as WING, the service will allow

customers to make person-to-person payments and transfers from their

mobile phones. "WING will help improve people's livelihoods and reduce

poverty by increasing their access to banking services," ANZ CEO Mike

Smith said during WING's launch Tuesday. Mobile banking - also known as

M-Banking or SMS Banking - has already taken root across the developing

world, and Citibank introduced a similar system in the United States in

mid-2007.