2019.12.05 Financial Services
• At FinTech Taipei 2019, LINE focused on its growing ecosystem of services will transform people’s everyday lives
• LINE Bank unveiled a range of products in development, featuring leading AI innovation and security
TAIPEI – November 29, 2019 – LINE Taiwan joined FinTech Taipei 2019 to showcase how the company’s “Life on LINE” vision will transform people’s lives through its digital financial services. Over the two-day event, more than 6,400 visitors experienced the growing LINE ecosystem of banking, payment, and financial services, and enjoyed hands-on demonstrations of how these services will work together to make life more convenient than ever.
Roger Chen, managing director of LINE Taiwan, and Morris Huang, CEO of LINE Bank Preparation Office, at FinTech Taipei 2019
LINE Bank was on-hand at the event to present a range of products that are in the works, starting with basic services like deposits, personal loans, and transfers. But the focus of the LINE Bank exhibit was on how it differs from traditional banking, thanks to its ability to integrate with the LINE service ecosystem, bringing together savings, consumer finance, insurance, fund investment and more through Open API.
Furthermore, LINE Bank is aiming to implement LINE’s leading AI technology for a range of applications, including marketing, customer service, AML (Anti-Money Laundering), information security, and risk management control. Building a customer-oriented, AI-driven digital customer service center promises to help solve customer problems instantaneously, around the clock – an approach it is calling “Bank for All”.
With its ambitious launch goals, LINE Bank is actively recruiting talented people, recently announcing nearly 20 types of positions it is looking to fill, in areas like compliance, risk control, technology, finance, information security, AI, big data, and horizontal alliances.
“To build the most localized digital financial services, LINE Bank will leverage a wide range of resources across many disciplines,” said Morris Huang, CEO of LINE Bank Preparation Office. “And, using our two strengths of AI and security, we’re looking forward to moving quickly in Taiwan, as we work toward launching our ‘Open banking’ services in the second quarter of 2020.”
LINE’s exhibit also featured three real-life demonstration zones – Office, Home and Café – to illustrate how LINE products can seamlessly integrate with people lives. The Office zone showed how LINE Travel can connect with LINE Insurance, so travelers can buy insurance easily, whenever they need it. For the Home zone, users could see how LINE Shopping integrates with LINE Score (an AI-driven personal scoring system) and LINE Pocket Money (a micro-loan service) to create a unique one-stop shopping experience in the LINE ecosystem. And in the Café zone, people could use LINE SPOT to link their online to their offline lives and shop more easily than ever.
In addition, LINE spotlighted some of the startups it has helped foster through the LINE Protostar program, and invited two key FinTech startups – Check Chick and Scan Trader.com – to demonstrate their innovative progress.