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LINE Bank opens in Indonesia as online-only arm of Hana Bank
LINE Bank, the digital banking arm of Bank KEB Hana Indonesia, launched operations on Thursday. The online-only bank is run in collaboration with Japan-based technology firm LINE Corporation and its subsidiary LINE Financial Asia.
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Bank KEB Hana Indonesia launched operations of its online-only subsidiary, LINE Bank, on Thursday, in collaboration with Japan-based Line Corporation and LINE Financial Asia. (Courtesy of Hana Bank /-)
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ank KEB Hana Indonesia announced on Friday the launch of its digital banking arm, LINE Bank, in collaboration with Japan-based technology firm LINE Corporation and its subsidiary LINE Financial Asia.
LINE Bank started operations on Thursday, making Indonesia the third market for the brand after recent launches in Thailand and Taiwan.
“LINE Bank is here to provide convenient and easy-to-use digital banking [services]. We will have various financial products and services, tailored to the needs and interests of our customers,” Bank KEB Hana Indonesia president director Park Jong Jin said in a press statement.
He went on to say that LINE Bank was aiming to attract customers from a wide segment of the population, including Gen-Z, which makes up the majority of LINE users.
According to Statistics Indonesia (BPS), Gen-Zers are people born between 1997 and 2012 who account for 28 percent of the population, the largest chunk, while millennials, born between 1981 and 1996, make up 26 percent.
Read also: Do or die as youth dominate demographics
“Demand for digital transformation in the banking industry is growing rapidly around the globe. With Indonesia’s unique geography, this digital transformation can […] bring about availability, connectivity and simplicity for people to access banking services,” said Kim Young Eun, LINE Financial Asia COO.
