Kasikornbank ties up with Japan mobile chap operator Line

The bank will tap on the latter's 44 million users to grow personal loans.

Reuters reports that Thai lender Kasikornbank has forged a joint venture with Japanese mobile chat app operator Line Corp as it moves to tap its the latter’s wide userbase to expand its personal lending business.

“We want to be part of Line’s ecosystem,” KBank’s president, Patchara Samalapa said, referring to Line’s 44 million monthly active users in Thailand.

Customers need only open a new bank account with the company to transfer funds and apply for personal loans within the Line platform.

Also read: Kasikornbank ties up with DBS to extend funds transfer service to Singapore

The new platform, which will have its commercial launch in the H2 2019, will also serve as open architecture broker for insurance and mutual funds. It will also focus on integrating Line’s other Thai products including its e-payment platform, Rabbit Line Pay.

Here’s more from Reuters: