Bangkok, Thailand: 20 October 2020: KASIKORN LINE unveils a new financial experience by introducing the first “Social Banking” platform in Thailand, “LINE BK”, a collaboration between KASIKORNBANK and tech giant, LINE, showcasing the concept of “Banking in Your Hand.” 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.

Tana Pothikamjorn, Chief Executive Officer, KASIKORN LINE said, “Overtime, Thai people have become significantly more inclined to use services offered via digital channel indicated by the constant increase in the amount of time spent on social media platforms and the volume of digital banking transactions. LINE BK will synergize these two worlds together to bring a widely accessible and comprehensive Social Banking solution that will enhance our banking experience with ease and convenience while upholding the same security standards as KASIKORNBANK’s.

KASIKORN LINE is a joint venture company between KASIKORN Vision Company Limited (a subsidiary of KASIKORNBANK) and LINE Financial Asia (a subsidiary of LINE Corporation). Leveraging on KASIKORNBANK’s strong portfolio as a leader in Thai banking industry and LINE’s massive platform with more than 47 million users, LINE BK will serve as an end-to-end digital financial service for everyone’s day-to-day financial needs.

Kim Young Eun, COO, LINE Financial Asia said, “It’s very exciting to see our users in Thailand getting the opportunity to experience secure and convenient financial services through the LINE application. I’m especially impressed to see LINE Thailand leading the way, becoming the first LINE market to integrate banking services into our popular mobile platform. LINE BK is an important addition to our 'Life on LINE' concept, seamlessly connecting the many services within our LINE ecosystem and providing valuable engagement with our users on the LINE platform."

Patchara Samalapa, President, KASIKORNBANK also said “LINE BK service has been created through the synergy between the LINE’s digital ecosystem and KBank's retail banking experience with the objective to revolutionize Thailand's banking services. KBank believes that the LINE BK Social Banking platform will promptly fulfill customers' needs and digital lifestyles as they can simply transact financially on their favorite LINE application. KBank's collaboration with LINE corresponds to our ongoing strategy of creating a Digital Lifestyle Ecosystem. KBank has brought in digital banking capabilities and expertise with a full range of financial solutions and partnership experience with global business partners covering over 50 brands of daily products and services. We want customers to have access to financial services on their everyday applications. With these new business models, KBank can expand to new customer bases and grow new income sources for the future.”

LINE BK’s initial financial products and services include:

• Savings Account (Powered by KBank): Without having to switch back-and-forth between applications, customers can perform all financial transactions and receive automatic money movement notifications within the LINE application. Customers will be able to check their account balances in real-time and will no longer need to memorize account numbers in order to transfer funds. Additional features include automatic sharing of e-slips (or bank transfer receipts) between parties, bill splitting of group expenses, request-to-pay service, and cardless cash withdrawal from KASIKORNBANK’s ATMs.

• Special Rate Account (Powered by KBank): LINE BK’s special rate account offers an interest rate up to 1.5% per year. Customers can choose between 6-months and 12-months terms.

• Debit Card (Powered by KBank): Customers will receive 0.5% cash back from online purchases made with LINE BK’s Debit Card by VISA (minimum 100 baht spending). LINE BK offers 3 types of debit cards: Online Debit Card – virtual card that customers can issue instantly within the LINE application; Debit Card - physical card with three distinct designs each containing a LINE Friends character; and Debit Card with Credit Line – a physical debit card with overdraft protection, offering a line of credit when an account has insufficient funds.

• Credit Line: Customers can easily apply for personal loans anywhere, at any time, and get a quick instant approval. Customers can instantly drawdown from their approved credit line to their accounts. Customers with monthly income of at least 7,000 baht, freelancers, or those without fixed salary and pay slips, such as small business owners, will now be able to access a credible source of fund through LINE BK’s loan services.

According to Tana, LINE BK will differentiate on its simplicity, accessibility, and reliability. Customers can perform their banking transactions as easy as sending messages on the LINE application. In light of current situations, the demand for credit has increased and will be an integral part of people’s daily lives. LINE BK plans to revolutionize the traditional loan application process through big data analytics, using a unique credit risk model that analyzes both financial and social data to be able to reach a wider group of consumers. (Note: As LINE places the highest priority on protecting user privacy, all chat messages and private contents are always end-to-end encrypted and not visible to LINE)

LINE BK operates using tight security procedures and robust data privacy protection. Its systems are fully equipped with multi-layered security, network and application encryption, and database encryption. Customers can be certain that their data is fully protected.

“LINE BK will continue to develop and provide new services that will complement and fulfill Thai people’s financial needs and uplift financial literacy through creating informative and streamlined experiences. LINE BK aims to be one of the top five leading consumer finance companies within five years and plans to offer investment and insurance products in the future.” Tana concluded.

LINE BK will appear under the Wallet Tab in the LINE application. Customers can sign up for LINE BK and apply for a Credit Line with 0% interest rate for the first 2 months on their LINE application without having to install any additional apps. Existing KASIKORNBANK customers can use their existing K PLUS account to easily sign up for LINE BK. Moreover, customers will enjoy special promotions and privileges from various LINE services and partners such as LINE MAN Wongnai, Rabbit LINE Pay, Lazada, and Agoda.

For more information about LINE BK, please contact LINE ID: @linebk or check out our instructional video at https://youtube.com/c/linebk