LINE BK Thailand has over 2 million users in just 4 months since its launch

Recently, LINE announced that as of February 23 , Thailand’s first community bank LINE   BK has attracted 2 million users in just four months of its opening .

It is reported that since its launch in October 2020, LINE BK has achieved more than expected results in terms of transaction volume , loan applications and the number of new users , with more than 50,000 users opening new savings accounts every day . In the first four months of its launch , the total amount of financial transactions on LINE BK exceeded 21 billion baht.

At its peak, LINE BK received more than 40,000 loan applications per day , of which 30% were first-time loan users . These figures clearly demonstrate the strong demand of Thai people for multi-functional , fully digital financial service applications .

Young Eun Kim , COO of LINE Financial Asia and Chairman of KASIKORN LINE, said: “We are delighted to see the rapid acceptance of LINE BK by the Thai people . We are committed to providing people with more convenient financial services based on the principle of ‘Banking in Your Hand’ . ”

LINE BK is a joint venture between LINE Financial Asia and KASIKORN Vision Company Limited . It is Thailand's first comprehensive "social banking" platform, aiming to provide services to everyone and provide a better financial experience for people's daily lives.

Looking ahead, LINE BK will provide more financial solutions . Currently , LINE is planning to expand banking services to countries such as Japan , Taiwan, and Indonesia .

It is reported that LINE will launch new features in Thailand to build an e-commerce ecosystem. Lertad Supadhiloke, head of e-commerce at LINE Thailand , said that Thais spend 2.48 hours on social media every day, making it the first country with a social media usage rate of over 80%.

Lertad Supadhiloke said that in Thailand, social media platforms account for 62% of products sold , while only 38% of products sold through other platforms or websites.

Regarding the upcoming new features, Lertad Supadhiloke said: "This is to build LINE into a complete e-commerce ecosystem, making it easier for consumers to shop, while providing sellers with a way to rely on rather than having to pay commission fees. "

LINE continues to launch new services to enhance user experience, provide maximum convenience for users and sellers, and make payment and shopping easier.

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