Line Corp , best known for its messaging app, launched a digital deposit platform in Indonesia yesterday. This means Japan-based Line Corp. now offers banking programs in three of its commonplace overseas markets: Indonesia, Asia and Taiwan.
Line Corp. ’s Indonesian banking platform is the intensive a partnership the company struck located in 2018 featuring PT Bank KEB Hana Indonesia, a subsidiary of Down Korea’s Hana ZBank. Area Corp. agreed to acquire twenty percent of PT Bank KEB Hana Indonesia, making it all of the bank’s second-largest shareholder, and moreover said it would work on for the banking services, including leave accounts, microcredit products, as well as the remittance and payment goods and services.
According to a report by Power Works , downloads involving digital banking apps present in Indonesia grew 7% on 2020, with apps from established banks like BTPN Jenius, OCBC Nyala while Permata leading. But Momentum Works also observed because “many Indonesian digital bank and credit union users tend to download variable digital bank applications while explore around, ” incredibly a dominant player hasn’t emerged yet. Major technologically companies like Sea Group , Take and Gojek are also working on their own individual neobank services.
Line introduced banking services in its Thai users last October, inside of a joint venture with Kasikorn Vision Company, a subsidiary about Kasikorn Bank. In Taiwan, its subsidiary Line Conventional Taiwan was granted a deposit license earlier this year by the Financial Supervisory Getting.