LINE Rolls Out Its Third Digital Bank in Indonesia With Hana Bank

LINE Financial Asia, an affiliate of LINE Corporation, announced the launch of its digital banking platform in Indonesia, in a collaboration with PT Bank KEB Hana Indonesia, a subsidiary of South Korea’s Hana Bank.

This is the third market in which LINE Bank is operating in following that of Thailand and Taiwan where it has secured an operational license by Taiwan’s Financial Supervisory Commission.

The strategic partnership between LINE and Hana Bank Indonesia began in October 2018, when LINE Financial Asia acquired 20 percent of Hana Bank Indonesia through a share subscription Agreement.

LINE Bank aims to target the Indonesian financial market by providing convenient digital banking services, combining the tech expertise of Asia’s leading mobile platform company LINE and the accumulated financial know-how of Hana Bank.

Starting with the launch of savings and deposit services, LINE Bank plans to introduce a variety of financial products and fintech services tailored to each locality’s specific needs and interests.

Young Eun Kim

“The demand for digital transformation in the banking industry is growing rapidly all around the world. In Indonesia in particular, due to this market’s unique geographical characteristics, we believe bringing banking services to people’s mobile phones will greatly increase their availability and convenience,”

said Young Eun Kim, Chief Operating Officer of LINE Financial Asia.

“Through LINE and Hana Bank working together, we will do our best so the Indonesian people can use LINE Bank to enjoy a more convenient financial life.”

Source: https://fintechnews.sg/51721/indonesia/line-rolls-out-its-third-digital-bank-in-indonesia-with-hana-bank/