Tana Pothikamjorn, Chief Executive Officer of KASIKORN LINE Co., Ltd., “Over the past four years, LINE BK has revolutionized Thailand's digital finance industry by offering financial services through LINE, Thailand’s number one messaging app. As Thailand's first social banking platform, we have introduced new behaviors in financial transactions, such as opening savings accounts, withdrawing, transferring, scanning QR codes for payments, applying for debit cards, loan services, and insurance brokerage services.”

“LINE BK has challenged the notion that financial services must be conducted through banks. Our aim is to make financial matters simpler and more accessible for everyone by integrating all financial services into the LINE app, used by over 56 million people (as of June 2024). We’ve removed barriers to help Thais access financial services easily, whether completing transactions without visiting a bank or enabling those without payslips to apply for loans.”

Comprehensive Financial Services on LINE BK

LINE BK serves over 7 million users nationwide, with 67% of its customer aged between 20 – 40 years old.  The top three provinces with the highest number of users are Bangkok, Chonburi, and Samut Prakan. In terms of occupations, freelancers represent the largest group at 42%, followed by salaried employees at 39%, and other professions at 19%. LINE BK’s core services currently cover all aspects of financial management, as follows:

Revolutionizing access to credit

LINE BK loan services, Credit Line and Nano Credit Line, currently serve over 700,000 customers nationwide. The average loan amount per customer is approximately 44,000-baht, underscoring LINE BK’s pivotal role in providing access to financing. LINE BK continues to manage risk as a responsible lender, adhering to the Bank of Thailand’s measures. Currently, the non-performing loan (NPL) ratio stands at 3%, with an outstanding loan portfolio exceeding 21 billion baht. Since its launch, total loan disbursements have surpassed 90 billion baht.

LINE BK remains focused on offering accessible loans for all customer segments. Partnering with LINE MAN Wongnai, we’ve developed a new credit model tailored for merchants on the LINE MAN platform, enabling these businesses to receive precise credit offerings based on their sales data. This new service is expected to be launched by the end of this year.

Additionally, we continuously improve our services, such as integrating with K PLUS to allow customers to apply for loans without opening a new savings account. We are also advancing our AI system to better examine loan applicants, making the approval process faster and more efficient. LINE BK aims to enhance the system for better loan applications and customer experience by streamlining the document submission process. 

However, we recommend customers borrow only when necessary and consider their ability to repay.

Simplifying your financial matters via LINE

LINE BK continues to prioritize convenience in financial transactions. In addition to core services like transferring money through chat or scanning QR codes directly from LINE, users can easily open savings accounts and apply for debit cards within the app. These features seamlessly let customers manage their finances anytime, anywhere.

This year, LINE BK has enhanced its platform for an even smoother experience, including a redesigned homepage that allows users to explore products and service information before making a decision. Looking ahead, LINE BK aims to introduce innovations that further integrate social interactions with financial transactions, making financial management even simpler by leveraging cutting-edge technology. Customers will enjoy the efficient new financial services without needing to wait for the launch of new virtual banks.

Small plan protection for small needs

Since launching the LINE BK Insurance Broker service in 2023, LINE BK has expanded opportunities for customers to access affordable life and health insurance, particularly for freelancers and workers who need small protection. The most popular products are “OPD bao bao” provided protection for outpatient department and “Rokrai jer jai,” offering customizable critical illness (CI) option protection that allow customers to tailor their needs, making premiums more affordable. Cancer plans are the most popular among the CI plans. According to LINE BK’s data, 53% of insurance customers are women aged between 25 between 34 years old.

LINE BK has excelled as an online brokerage, particularly in health insurance sales, compared to other channels of our partner, Muang Thai Life Assurance. This success was recognized at The  World’s Digital Insurance Awards 2024, where LINE BK and Muang Thai Life Assurance were honored with the Insurer Innovation Awards. This award highlights our achievement in creating a seamless, user-friendly online insurance purchasing experience through the LINE platform, addressing the needs of low-to-middle-income customers. By utilizing a fully integrated digital approach, customers can conveniently browse and buy insurance through LINE, enhancing their experience of buying protection with ease.

In October 2024, LINE BK introduced two new insurance products: “Having Debts, No Worries” and “Aomsap Aomjai 11/5.”

“Having Debts, No Worries” is a life insurance policy designed for Credit LINE customers and anyone with a loan who wants to secure their family's financial future in case of unforeseen events.

“Aomsap Aomjai 11/5” is an endowment insurance plan that focuses on saving while providing life protection. It features short-term premium payments for 5 years and life coverage for 11 years.

The Path Forward

As LINE BK moves into its fifth year, we remain committed to sustainable growth. In addition to expanding its credit services to better meet the needs of small-scale customers, the company continues to enhance its financial offerings across all dimensions, including savings and insurance. These developments are designed to cater to a wide range of customer needs, ensuring everyone can manage their finances comprehensively through a single platform. Our determination and commitment are carried out under the Bank of Thailand’s policy, ensuring that LINE BK contributes to sustainable growth and plays an important role in Thailand’s digital financial landscape.

*Borrow only when necessary and consider your ability to repay. Interest rates for Credit Line is 18%-25% per year, and Nano Credit Line is 33% per year.

**LINE BK Insurance Broker operates as a life insurance brokerage. Insured by Muang Thai Life Assurance PCL.

Warning: Please study policy coverages, conditions, and exclusions information before deciding to purchase insurance.