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BANKING TECHNOLOGY | Staff Reporter, Taiwan
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LINE Bank granted operational licence in Taiwan

It will launch retail banking services in H1 2021.

LINE Bank has been granted an operational license by Taiwan’s Financial Supervisory Commission to launch an internet-only bank, a statement read.

Launching in the first half of 2021, LINE Bank will provide retail banking services, including deposit, transfer, debit card and personal loan at the initial stage of business.

Building on LINE's 21 million monthly active users in Taiwan, the bank will integrate with LINE’s and shareholders’ diverse ecosystems for its “Banking in Your Hand” mission.

Last year, LINE floated its banking service LINE BK in Thailand. The firm has plans to expand to Japan and Indonesia this year, said LINE Bank Taiwan chairman and LINE Corporation CFO In-Joon Hwang.

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