Roamware, a US mobile roaming services developer, will introduce a micro-finance application to enable mobile phone users to initiate financial transactions, Business Standard reports.

The company has already joined forces with Grameen Bank of Bangladesh to start a pilot project on micro-finance. The initiative is aimed at users across the globe who live in rural areas and who do not have access to banks. Nokia has already revealed plans to introduce a service dubbed 'Nokia Money' on the Indian market.