PT Bank KEB Hana Indonesia’s Line Bank assists in increasing financial inclusion in Indonesia | Asian Business Review

PT Bank KEB Hana Indonesia’s Line Bank assists in increasing financial inclusion in Indonesia

The initiative bagged the Indonesia Technology Excellence Award for Digital - Financial Services.

In a growing digital ecosystem in Indonesia, KEB Hana Bank aims to actively participate in increasing financial inclusion by improving its customer experience and providing convenience, comfort, and security for customers through its various banking services.

Thus, Line Bank was developed. 

The Line Bank by KEB Hana Bank is a digital banking service carried out independently in the form of cellular phone applications. It provides digital onboarding to open savings and time deposit accounts through seamless video banking without going to the branch, which includes account opening, order, delivery tracking, and debit card activation, amongst others.

In addition, users can also withdraw their money using mobile phones in addition to using ATM cards, in the Hana Bank ATM network.

Line Bank also aims to increase the bank’s retail and consumer business volume whilst contributing to the banking transaction volume and increasing the brand awareness of KEB Hana Bank in the digital banking industry.

In the first month since the launch of Line Bank, KEB Hana Bank managed to serve an average of 3,000 applicants per day. Over 200,000 accounts were opened in a span of three months. The app was also ranked sixth in the retail banking finance apps category based on sessions per user in Q2-2021, with 71% of its users being those from 17 to 25 years old. 

At the same time, 60% of its total users since the launch are financially active users.

“The Line Bank by KEB Hana Bank has increased our customer base significantly and we aim to tap into the millennial segment to do banking since that segment has not been tapped by regular banking before,” the Bank said.

For them, the development of the Indonesian population that is connected to Internet services and social media services has an impact on changing the behaviour of banking customers from relying on physical access to digital banking behaviour.

Thus, its strategic partner Line Messenger helped tap those segments and behaviours. KEB Hana Bank targets to onboard 300,000 customers by the end of 2021. 

For these undertakings, the bank was able to take home the Digital - Financial Services category at the Indonesia Technology Excellence Awards 2021.

Knowing its market and strategically centring its services around them, KEB Hana Bank has been able to rapidly gain a massive customer base in a short time whilst undergoing its own digital transformation with its services.

Watch the interview below to know more about their winning project:

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