LINE BK, a collaboration between KBank and the global company LINE, is set to create a comprehensive financial service experience known as 'Social Banking,' the first of its kind in Thailand. With the concept of 'Easy Money Matters in Your LINE,' it presents a new online financial lifestyle where chatting, transferring, borrowing, and paying can all be completed conveniently and securely within LINE. This includes loan services that will unlock access for freelancers or those without a regular income.

 

Mr. Thana Photikhamjorn, CEO of KASIKORN LINE Co., Ltd. stated that Thai people are now ready to embrace new digital services, as evidenced by the increasing time spent on social platforms and the rapid growth of digital banking usage. LINE BK is a result of the collaboration between KASIKORN Bank (invested through KASIKORN VISION Co., Ltd. or KVision) and LINE (invested through LINE Financial Asia), merging KASIKORN Bank's leadership in digital banking with the power of LINE's social platform, which boasts over 47 million users. This will make LINE BK a financial service accessible to everyone, meeting daily needs.

The highlights of LINE BK are its simplicity, accessibility, and reliability, allowing transactions to be completed as quickly as chatting on LINE. This is particularly suited to current lifestyles, especially given the increased demand for accessible loan sources. The lending service will offer an alternative to traditional borrowing methods. Compared to conventional loans, LINE BK employs a unique risk assessment process for loan approvals, utilizing a combination of financial and social media data analysis. Furthermore, LINE BK ensures the protection of personal data in all aspects, as it cannot access the content of customer communications and will not use it as part of its data.

In terms of customer security, LINE BK has systematic measures to ensure user data privacy, including multi-layered protection and security encryption for network and application structures, as well as specific database encryption to assure LINE BK users that they are protected by the highest security measures.

 

 

LINE BK will fully launch its services and financial products as follows:

Deposit Account (Powered by KBank): Covers services for transferring, withdrawing, and paying, all done within LINE without switching applications or remembering account numbers. Users can transfer money in chats with real-time notifications of incoming and outgoing balances, check balances in real-time, and enjoy features like sending special slips with LINE characters instantly, requesting payments, and splitting expenses with friends on LINE, as well as withdrawing cash without a card at KASIKORN Bank ATMs nationwide.

Special Interest Savings Account (Powered by KBank): A savings account with a special interest rate of up to 1.5% per annum, featuring Brown, Cony, and Sally as assistants to make saving money a fun experience rather than a chore. Users can set their own saving periods, either short-term (6 months) or long-term (12 months).

Debit Card (Powered by KBank): The LINE BK Visa debit card offers 0.5% cashback on online purchases of 100 baht or more, with three card types available to suit every lifestyle. These include a Debit Card featuring cute characters from LINE, an Online Debit Card that can be applied for and used immediately on the LINE application, and a Debit Card with a Credit Line that provides automatic alerts when account balances are low, allowing users to draw from their credit line seamlessly.

Credit Line: A digital personal loan service where users can apply for credit limits anytime, anywhere, with quick approvals and immediate fund transfers to their accounts. Those with a minimum income of just 7,000 baht can apply, helping to unlock access for those without regular income or pay slips, such as freelancers and small business owners.

 

"LINE BK will continue to develop new services to enhance the convenient and secure financial lifestyle of everyday life, making it easier for Thais to access funds and gain a better understanding of personal finance. The goal is for LINE BK to become one of the top 5 leading companies in the lending service industry within 5 years, with plans to expand into investment and insurance services in the future."

 

LINE users can access LINE BK services by simply tapping on the Wallet page in the LINE application and clicking the LINE BK button to start registering for free without needing to download any additional apps.

For existing K PLUS account holders, they can also use their K PLUS account within LINE BK. Customers with a LINE BK deposit account can apply for a credit line and receive a special interest rate of 0% for 2 months without any additional fees.

Additionally, LINE BK customers will receive exclusive benefits from various LINE BK services and partners, such as LINE MAN, Wongnai, Rabbit LINE Pay, Lazada, and Agoda.

 

Those interested in opening an account with LINE BK can inquire for more information at LINE ID:@linebk
or watch the registration video at https://youtube.com/c/linebk