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LINE BK wins IFM most innovative awards

LINE BK now has 5.6 million savings accounts, 150,000 special rate accounts, 2.6 million debit cards, and 590,000 loan accounts

KASIKORN LINE, the service provider of LINE BK, Thailand’s first social banking platform, has been recognized as the winner of banking awards for Most Innovative New User-Friendly Social Banking Platform at the International Finance Awards 2022.

LINE BK not only won the banking award but was also recognized as a rising player in the financial industry. The company has multiple accolades and awards in its names like the Model Bank Award for Embedded Finance from the Celent Model Awards 2022 and Asia’s Best in Customer Interaction from the Financial Insights Innovation Awards 2022 (FIIA).

Tana Pothikamjorn, CEO. Line BKTana Pothikamjorn, CEO of the company said: “LINE BK integrates itself into customers’ everyday life via LINE application, the provider of the largest social messaging platform in Thailand. The onboarding process seamlessly meshes in with customer journeys within the LINE app. Customers can also perform their banking transactions as easy as sending messages, and they can transfer money to their friends and families via chat even without knowledge of the receivers’ bank account number. In addition, they can also access the loan and withdraw cash easily anytime within the LINE app”.

KASIKORN LINE, a joint venture between KASIKORN BANK and LINE BK, was launched in 2020 to address this challenge of financial inclusion, showcasing the concept of ‘banking in your hand’. One of the objectives is to provide Thai consumers with better access to essential financial products, especially tapping the under-banked and underserved population.

Through LINE BK, customers can transfer money, open savings accounts, apply for loans, and make payments with ease and convenience within the LINE application. LINE BK also unlocks current limitations for freelancers and individuals without fixed income, giving them easy access to credit through personal loans. After launching the service almost two years, LINE BK now has 5.6 million savings accounts, 150,000 special rate accounts, 2.6 million debit cards, and 590,000 loan accounts as of June 30, 2022.

“LINE BK will continue to develop new services that will fulfill financial needs and provide a good experience for Thai people, reinforcing the concept ‘Banking in Your Hand’ which LINE BK has always been determined,” Tana concluded.

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