LINE Bank, the digital banking arm of Bank KEB Hana Indonesia, was launched on June 10, 2021. Indonesia becomes the bank’s third market after its success in Thailand and Taiwan. KEB Hana Bank Indonesia’s compliance director Bayu Wisnu Wardhana said that LINE Bank will focus on consumer financing in Indonesia.

“The company is targeting to get new customers, raising third party funds and consumer credit with LINE Bank,” said Bayu on Friday, June 11, 2021, as quoted by Bisnis Indonesia.

With the increasing competition in digital banking, Bayu is confident that the presence of LINE Bank will accelerate the growth of new customers, new public funds, and wider coverage. “It would also be easier to target LINE’s social media users as customers,” Bayu said.

KEB Hana Indonesia has budgeted IDR 150 billion for IT development this year. In releasing LINE Bank in Indonesia, KEB Hana Bank cooperates with LINE Corporation and LINE Financial Asia.

“LINE Bank will provide various financial products and fintech services that are tailored to meet our customers’ needs and interests,” KEB Hana Bank Indonesia president director Jong Jin Park said.

Tempo