Maya closed 2024 with a standout performance, achieving PHP 39 billion ($664 million) in deposit balances and disbursing PHP 68 billion ($1.15 billion) in loans in a single year. Since 2022, the digital bank has disbursed PHP 92 billion ($1.56 billion) in loans. “Banking should be simple and empowering,” said Shailesh Baidwan, Maya Group president and Maya Bank co-founder. “By merging payments and banking on one delightful digital experience, we’re enabling more Filipinos to save, borrow, and grow their money with ease.” With a total bank customer base of 5.4 million, Maya solidifies its leadership in financial innovation. Maya’s success reflects its innovative approach: leveraging an extensive payments network, customer-first product design, and advanced technology to deliver financial inclusion at scale—all while improving operational efficiency and profit margins. Banking growth powered by payments Maya’s growth comes from seamlessly integrating payments and banking into one ecosystem. The bank uses its payments network to expand its banking services while its banking products boost the growth of its payments business. E-wallet users are seamlessly introduced to savings products, earning up to 15% interest for using Maya for daily transactions. Businesses benefit from banking tools built directly into Maya’s payment platforms, streamlining operations and boosting engagement. By using transaction data for credit scoring, Maya extends loans to those excluded by traditional banks, creating a cycle where payments activity drives lending growth. Strategic collaborations with its extensive list of merchants have amplified this momentum, including credit card partnerships with Landers Supermarket, Grab consumer lending, and the landmark loan channeling with Tala and WeFund. Tailored solutions for the underserved Understanding its customer base—primarily young, tech-savvy Filipinos and small business owners—has shaped Maya’s inclusive products. Opening an account requires just one ID, with no minimum balance. For entrepreneurs, Maya provides collateral-free loans of up to PHP 2 million ($34,079), enabling businesses to access much-needed working capital. Consumers can apply for loans of up to PHP 250,000 ($4,259) and receive approval and disbursement within the same day through the Maya app. Half of Maya Easy Credit borrowers received their first formal loan through the platform, and many small enterprises now rely on its business lending products to sustain and grow their businesses. Scaling through technology and innovation Maya’s rapid growth is underpinned by advanced technology. AI and machine learning process billions of microtransactions to enhance credit scoring, prevent fraud and deliver personalised services. The platform’s user-friendly design ensures first-time customers can easily navigate banking tools, while small businesses benefit from a single platform that integrates payments, banking and financial management. “Our goal is to create a financial system that works for every Filipino,” said Angelo Madrid, Maya Bank president. “Whether saving for the future or expanding a business, Maya empowers users to take control of their finances.” Re-disseminated by The Asian Banker
