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Web-only Line Bank Taiwan Ltd (連線商業銀行) yesterday said that its client base had reached 1.1 million people as of the end of last month, adding that it aims to expand its client base this year by offering more products and services. Another Web-only bank, Rakuten International Commercial Bank Co (樂天國際銀行), had 840,000 clients as of the end of last year, while Next Commercial Bank Co (將來商業銀行), the nation’s third Web-only bank, began operations last month. As Line Bank is to enter its second year of operations, it would no longer prioritize obtaining new clients, but would focus on serving and retaining them, ....
Line Bank Taiwan Ltd (連線商業銀行), the nation’s second Web-only bank, launched on Thursday, but promptly drew a rebuke from the regulator after its system crashed. The virtual bank launched its banking service, integrated into the messaging app Line offered by its affiliate Line Taiwan Ltd (台灣連線), at about 5pm on Thursday, but users said they could not access the service. People who clicked on its Web page were greeted by either a blank page or a “server is busy” message. That was contrary to the bank’s claims that people would be able to open an account within six minutes and its promise ....
Taiwan Business TOPICS LINE Bank Starts Trial Operations Online banking services company LINE Bank began trials of its Taiwan platform in late March. The trial operations, which were limited to the approximately 700 employees of LINE Taiwan, follow a series of stress, integration, and user tests. If the trial is successful, the online bank will make a full debut in late April, according to LINE Bank General Manager Morris Huang. LINE Bank is one of only two internet-only banks in Taiwan, the other being Rakuten International Commercial Bank Co. Its launch on the island follows the opening of a similar bank in Thailand last year by major shareholder LINE Financial Taiwan Corp., which will be used as a benchmark for the success of the Taiwan platform. ....
(Photo courtesy of LINE) (Photo courtesy of LINE) The Financial Supervisory Commission (FSC) on Thursday (Feb. 4) issued Web-only LINE Bank an operating license to open a virtual bank in Taiwan, with plans to launch operations in the first half of the year. In the initial stage, the virtual bank will focus on deposits, wire transfers, debit cards, and personal credit loans, LINE Bank said in a statement. Since being approved to launch an internet-only bank in Taiwan in 2019, LINE Bank has fully cooperated with regulators in terms of related inspections, and actively sought to have its businesses connected to regulatory systems. ....