Maya Drives Digital Banking Growth in the Philippines with Record Deposits and Loans

Maya Drives Digital Banking Growth in the Philippines with Record Deposits and Loans

Maya is demonstrating the power of digital-first banking by achieving significant growth in deposits and loan disbursements. By the end of 2024, Maya had amassed ₱39 billion in deposits and disbursed ₱68 billion in loans, bringing its total loan disbursements since 2022 to ₱92 billion.

This impressive growth underscores Maya‘s success in reaching 5.4 million bank customers across the country.

Leveraging Data and Technology for Inclusive Growth

Unlike traditional banks, Maya has built a scalable digital banking model that leverages data and technology to offer innovative financial products. By embedding financial services within its payment ecosystem and utilizing AI-powered insights, Maya provides intuitive and responsive solutions to its customers.

This data-driven approach is driving rapid adoption, particularly outside of Metro Manila. Currently, 70% of Maya’s customer base resides in regional areas, where lending and savings growth are outpacing the national average.

Banking should be simple and empowering, by seamlessly integrating payments and banking into a single, delightful digital experience, we are empowering more Filipinos to easily save, borrow, and grow their wealth.

Said Shailesh Baidwan, Maya Group President and Maya Bank Co-Founder.

Payments Fueling Banking Growth

Maya’s unique strength lies in its ability to leverage payment activity as a gateway to a suite of financial services. By analyzing transaction data, Maya assesses creditworthiness, enabling it to offer loans without requiring collateral or extensive paperwork. Furthermore, Maya rewards customer loyalty by offering higher savings interest rates based on payment activity and app engagement.

This innovative approach is driving significant growth, particularly outside of Metro Manila. Active borrowers for Maya Easy Credit in regional areas have surged by 82% year-over-year. Surpassing the 64% growth observed in Metro Manila as of December 2024. Deposit growth mirrors this trend, with regional deposit balances experiencing a remarkable 67% year-over-year surge, now constituting more than half of Maya’s total deposit growth.

Outside Metro Manila, we are witnessing the most transformative impact, the surge in savings and credit activity demonstrates the profound impact of our platform on the lives of more Filipinos.

Said Angelo Madrid, Maya Bank President.

Reaching Underserved Communities

Maya’s success in expanding financial inclusion across the Philippines stems from its deep understanding of its customer base. The platform is designed specifically for young, tech-savvy Filipinos and small business owners who are often underserved by traditional banking institutions.

Opening an account with Maya is incredibly simple, requiring only one ID and no minimum balance. For entrepreneurs, Maya offers collateral-free loans of up to ₱2 million, providing crucial working capital. Consumers can easily apply for loans of up to ₱250,000 through the Maya app and receive approval and disbursement within the same day.

It’s noteworthy that half of Maya Easy Credit borrowers received their first formal loan through the platform, and many small enterprises now rely on Maya’s business lending products to sustain and grow their operations.

Scaling Through Technology and Innovation

Maya‘s rapid growth is fueled by its advanced technology infrastructure. AI and machine learning algorithms analyze billions of microtransactions to enhance credit scoring, prevent fraud, and personalize the customer experience.

The user-friendly design of the Maya app ensures seamless navigation for first-time customers, while small businesses benefit from a single platform that integrates payments, banking, and financial management tools.

This integrated approach is yielding impressive results. Regional loan drawdowns have surged by 137% year-over-year, now accounting for 70% of Maya’s lending growth. Furthermore, strategic partnerships with leading retailers and fintech players, including Landers Supermarket, Grab, Tala, and WeFund, are expanding Maya’s reach and accessibility.

By delivering an intuitive digital banking experience, we are reaching and empowering communities that have been underserved for far too long.

Concluded Baidwan.