Maya Bank reported robust growth performance in the Philippines last year, reaching PHP 39 billion ($664 million) in deposits and disbursing PHP 68 billion (USD $1.15 billion) in loans over the year.
Since its inception in 2022, Maya Bank has facilitated PHP 92 billion (USD $1.56 billion) in loans, reflecting the increasing adoption of its financial services.
Maya Bank’s COO, Manu Panda previously shared with us how they grew to 3 million users, highlighting their success in expanding their depositor base.
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The digital platform aims to simplify financial management for its 5.4 million customers by integrating payments and banking into a unified digital ecosystem. Its approach combines a broad payment network with data-driven innovations, offering tailored products that cater to every Filipino.
The bank has also introduced savings options in the Philippines with competitive interest rates and collateral-free loans for entrepreneurs, supporting business growth and enabling greater financial access.
Consumers can secure loans of up to PHP 250,000 (USD $4,259), often with same-day approvals via the app, while small enterprises benefit from flexible working capital solutions.
The platform leverages AI and machine learning to process transaction data, refine credit scoring, and minimise fraud risks. Partnerships with merchants and service providers like Landers Supermarket and Grab have further expanded its reach, enhancing the convenience of its offerings.
Maya’s focus on combining technology and inclusive design underscores its goal to make financial services accessible to more Filipinos. Recent advancements build on its previous efforts to transform the banking landscape and foster economic growth across the region.
Featured image credit: Edited from Freepik
