LINE BK Service Provider Social Banking The first in Thailand Revealing the results of the year 2021, found to respond to the trend of Thai people who are more open to social banking, resulting in the number of users reaching 3.9 million after having opened the service for more than 1 year. Reach wider and higher quality customers. Developing services to be convenient and meet financial needs including launching new products to increase completeness
In terms of the number of users, now there are more than 3.9 million, divided into 4 main services:
- 4.5 million deposit accounts
- Over 100,000 special interest savings accounts
- 2 million debit cards
- Providing credit lines for more than 500,000 accounts, bringing the total amount of loans to more than 27 billion baht.
Thana Photikamjorn, Chief Executive Officer of KASIKORN LINE Company Limited, revealed that 2022 will continue to be a challenging year for LINE BK to deliver a good financial experience for Thai people. by striving to develop services to be more efficient To help fulfill everyday financial lifestyles that are convenient, safe and cover all the needs of customers according to the concept of ‘Easy money in your LINE’
“This year, we will see the image of being Social Banking of LINE BK is clearer. We will focus on integrating financial services into one channel with LINE, which is the main chat app used by Thai people. LINE BK will strive to develop and provide a good experience As for the original service, we will develop it to be more intimate and personalized. (Personalized) to provide easy and smooth financial services. It’s not different from picking up a mobile phone to play social media. Most importantly, we want to increase the opportunity. for many Thai people who have difficult access to funding to be able to request credit in the system more easily and securely It reinforces the concept that LINE BK has always been determined and determined. To make money easy in your LINE”
However, LINE BK’s key strategy in 2022 is to strengthen its core business. both in terms of credit services and banking and financial transaction services, divided into 3 strategies as follows:
1. Reach a better and wider audience Focus on reaching customers both qualitatively and quantitatively. by improving the application process, both opening an account to be more convenient and faster than before Including risk assessment for credit approval, which has developed an AI system, analyze data to be more intelligent and consider the data more accurately. to reach a large group of customers and have quality at the same time which the company Able to release credit to the target group will help the company Able to manage loan portfolios better and mitigate a number of risks, such as default or customer inability to pay back. including not withdrawing the credit line of the person who has already been approved for the credit line, etc.
In addition, there will be marketing focused on reaching new target groups, especially mass markets in the provinces. which is still a group of salaried employees including independent professional groups and a group of merchants who do not have regular income, etc. Customers will see a large campaign of LINE BK that will come to create colors. Helping to reach and communicate more directly to customers.
2. Develop services to meet usage and lifestyle needs It will be developed from the strength of LINE BK in the LINE application to make money transfers in chat more convenient. Including the development of a money transfer QR feature to support the behavior of consumers who often use the LINE application to scan QR in their daily lives.
3. new service launch to increase the completeness of financial services Prepare to launch new services To meet the needs of Social Banking with complete financial services with plans to launch in the middle of this year
