Credit: ©LINE Corporation.

Japanese firm Line has launched a digital banking platform in Indonesia to further expand its fintech footprint.

The banking platform, Line Bank by Hana Bank, was rolled out by a collaboration between PT Bank KEB Hana Indonesia, a subsidiary of South Korea’s Hana Bank, and Line Financial Asia.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

The newly launched lender will offer deposit, debit cards, fund transfer and bill payment services among others.

Line Financial Asia COO Young Eun Kim said: “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.

“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.”

Line Bank Services:

Customers can open savings accounts by completing eKYC. The accounts will offer no-fee transfers and withdrawals, and will have no monthly admin fee. Additionally, the customers can conduct cardless cash withdrawals from Hana Bank’s ATMs.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The lender will also offer time deposits starting from IDR1m ($70).

Line Bank plans to expand its product portfolio to include loans, partnership loans and QR payments.

Indonesia is the third market after Thailand and Taiwan where Line Bank commenced services.

Recently, Indonesian digital challenger Bank Jago tapped Mambu’s cloud platform to power banking services.