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Mobile banking: WING signs agreement with AMK

Mobile banking: WING signs agreement with AMK

Mobile banking
WING mobile banking provider has launched a pilot program which will see branches of AMK micro-finance institution also operating as WING outlets, according to AMK CEO Pete Power.

“Ultimately we want to offer a much wider array of services [with WING],” he said yesterday, adding further steps would be subject to approval from the National Bank of Cambodia.

AMK claims a loan portfolio topping US$30 million, while ANZ Bank-owned WING was the first company to offer mobile phone banking in Cambodia.

Mobile phone banking can reach more of the Kingdom’s unbanked population, while reducing some costs such as opening new branches, said Pete Power.

“Hopefully we can avoid the bricks and mortar investment that had to be made in the past.” he said.

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