LINE Bank Taiwan Limited (LINE Bank Taiwan Limited) is a pure online bank established on March 9, 2020, headquartered on the 3rd and 4th floors of No. 333, Ruiguang Road, Neihu District, Taipei, Taiwan, and officially opened in April 2021. As one of the first three pure online banks in Taiwan, LINE Bank is controlled by LINE Corporation (49.5%), and other shareholders include Taipei Fubon Commercial Bank (25.1%), CTBC Commercial Bank, Taiwan United Commercial Bank, Taiwan Mobile, Far East Telecom, and Momo Shopping, demonstrating the strong alliance of the Internet, telecommunications, and financial industries. The bank is not listed on the Taiwan Stock Exchange and is a private enterprise. LINE Bank is regulated by the Financial Supervisory Commission (FSC) of Taiwan and participates in the deposit insurance program of the Central Deposit Insurance Corporation (CDIC), with deposit protection of up to NT$3 million. In April 2021, the bank was concerned about a service outage due to an overloaded system, but the issue was quickly fixed and no other major breaches were recorded, demonstrating its compliance efforts.
Scope of ServicesLINE
BankAs a pure online banking, LINE Bank's services cover the whole territory of Taiwan, without physical branches or ATM networks, and provide financial services entirely through mobile applications and online banking platforms. The bank is deeply integrated with the LINE ecosystem, allowing users to check their account balances and make quick transfers through the wallet feature in the LINE app. LINE Bank also plans to expand into Asian markets outside of Taiwan, such as Thailand and Indonesia, through collaboration with regional partners, and currently has about 2 million customers in Taiwan, demonstrating its strong market appeal. The bank's focus is on retail banking, including deposits, transfers, debit cards and personal loans, with plans to expand into wealth management and foreign exchange services in the future.
Financial HealthLINE
Bank is an emerging digital bank, and specific financial indicators such as core Tier 1 capital adequacy ratio (CET1), non-performing loan ratio (NPL) and liquidity coverage ratio (LCR) are not disclosed. According to FSC data, in the first half of 2023, LINE Bank and two other pure online banks (Rakuten International Bank and Future Bank) reported a total loss of NT$6.58 billion, reflecting the high cost of initial investment and technology development of the new bank. It is expected that its capital adequacy ratio meets the minimum requirements of the FSC (usually above 10%), the non-performing loan ratio is low, it has not accumulated a large number of bad debts due to its short establishment, and the liquidity coverage ratio should also meet regulatory standards. The bank's credit rating is not disclosed, but its shareholder background and the support of the LINE ecosystem guarantee its financial stability.
Deposits & Loans
:
LINE Bank offers demand deposits, time deposits, and featured "Dream Accounts". With an interest rate of around 0.8%, the demand deposit is highly flexible and suitable for day-to-day money management. Fixed deposits can be used in a variety of tenors (six months to one year) with an interest rate of about 1.2%-1.5%, please refer to the official website of LINE Bank for details. The "Dream Account" incentivizes savings through gamified experiences such as the interaction of LINE cartoon characters Xiongda, Bunny and Sally, and users can earn additional high-interest rate rewards for reaching their deposit goal each month, the exact rate of which is not disclosed.
Loans:
LINE Bank offers personal lines of credit and installment loans, which can be applied online through mobile phones, and the approval process is fast, claiming to be the "fastest instant loan". The interest rate and maximum amount of the loan are not disclosed, but it is expected to be between 3% and 5% depending on the customer's credit rating, and the maximum loan amount is NT$1 million. The loan supports flexible repayment options, such as no penalty for early repayment, and the specific terms need to refer to the official website. The bank does not offer home or car loans for the time being, but plans to expand to more financial products.
Digital Service Experience
App & Online Banking:
LINE Bank's mobile app "LINE Bank" has a Google Play rating of 4.8 stars (based on 2,500 reviews), and users rate its user-friendliness and functional stability very highly. Core features include facial recognition login, real-time transfers, bill management, investment tool integration, and LINE Pay payment capabilities. Users can check their account balances and transfer funds instantly through the wallet tab in the LINE app, which greatly enhances the convenience.
Technological innovation:
LINE Bank uses advanced AI technology for customer service, anti-money laundering (AML), information security, and risk management. Its open banking API supports the interconnection with third-party fintech applications to enhance service flexibility. The bank has also partnered with Temenos to adopt a cloud-native core banking platform to ensure rapid time-to-market and efficient scaling. In 2023, LINE Bank launched Taiwan's first online-only securities settlement account, partnering with Fubon Securities to allow users to open an account and manage their funds in 3 minutes.
Customer Service QualityLINE
Bank provides a 24-hour customer service hotline (+886-2-6636-6666) in Chinese and English, and customers can get help through live chat, the LINE app, or social media (such as X platform). The data on complaint handling efficiency and user satisfaction are not publicly available, but as a digital bank, it focuses on quick response and user experience. User feedback on the X platform shows that LINE Bank's quick fix after the service outage has been well received, and the overall customer service performance is positive. For cross-border customers, the bank provides English support, and may expand more language services in the future.
Security MeasuresLINE
Bank's deposits are protected by the Central Deposit Insurance Corporation (CDIC) with a maximum protection amount of NT$3 million, covering demand deposits and time deposits. Banks use real-time transaction monitoring, multi-factor authentication (including facial recognition), and advanced encryption to prevent fraud. In terms of data security, it complies with Taiwan's Personal Data Protection Act, emphasizes cyber security, and does not report major data breaches. Although ISO 27001 certification is not explicitly mentioned, as a digital bank, its security standards are in line with industry standards and customer trust is high.
Featured Services & DifferentiationLINE
Bank has launched innovative services for young users, such as the "Dream Account", which incentivizes savings through gamification, and combines LINE cartoon characters to increase user engagement. The bank has also partnered with Taipei Fubon Bank, Union Bank and Standard Chartered Bank to launch a co-branded credit card that offers double benefits to appeal to consumers. The information on green financial products is not clear, but the bank plans to support ESG investment, which is in line with the trend of sustainable finance. High-net-worth services have not yet been clarified, and customized financial solutions may be provided, and the entry threshold needs to be further confirmed. LINE Bank has also partnered with AFTEE's "Buy Now, Pay Later" service and LINE TAXI to expand financial services for lifestyle scenarios.
Market Position & AccoladesLINE
Bank is one of the three pure online banks in Taiwan, with about 2 million customers as of 2023, making it the largest digital bank in Taiwan. The bank aims to attract 1 million customers within two years, and quickly reached 100,000 customers after its launch in April 2021, demonstrating its market appeal. Although it does not enter the global ranking of bank assets, its leading position in Taiwan's digital banking market is significant. LINE Bank has not disclosed specific awards, but its "Rapid Finance Platform" strategy and integration with the LINE ecosystem have garnered a lot of attention in the market, especially among young users.
