LINE and PT Bank KEB Hana Indonesia launch digital banking platform

By Leandra Monteiro

LINE Corporation today announced the launch of the digital banking platform LINE Bank by Hana Bank in Indonesia, a collaboration between PT Bank KEB Hana Indonesia, a subsidiary of South Korea’s Hana Bank, and LINE Financial Asia, an affiliate of LINE Corporation. With the start of service, which began operations on June 10, Indonesia becomes the third market in which the bank is operating, following Thailand and Taiwan.

The bank aims to target the Indonesian financial market by providing convenient digital banking services, combining the tech expertise of  the Asian mobile platform company 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.

“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.”

In the future, the bank is planning on expanding the range of products it offers, bringing Indonesian consumers such services as loans, partnership loans, and QR payments.