The UK’s Standard Chartered Bank is set to join Line Bank, an online service connected to the popular messaging app Line.
Line Bank is an online banking service that will launch early next year. The company behind the bank says that this service aims to provide a financial ecosystem that helps Line users with a number of common banking services, including saving and transferring funds and making online payments.
A representative of Standard Chartered Bank said Wednesday that the company will join Line Bank because of the app’s large user base. She said that over 85% of Taiwanese people are highly active on Line. She said it therefore makes more sense to offer their banking service to this user base through Line Bank rather than setting up another platform.
Standard Chartered Bank is looking to launch their Line Bank service in June.