Maya, the country’s leading digital bank, reported record results for 2024, with ₱39 billion in deposit balances and ₱68 billion in loans disbursed.
Since its inception in 2022, the bank has extended ₱92 billion in loans, marking rapid growth in the competitive digital banking sector.
The bank’s success is driven by its strategic integration of payments and banking services into a single platform, catering to millions of Filipinos. This model has helped drive both loan and deposit growth, positioning Maya as a key player in the financial inclusion space.
“Banking should be simple and empowering,” said Shailesh Baidwan, Maya Group president and co-founder. “By combining payments and banking, we’re enabling more Filipinos to save, borrow, and grow their wealth.”
Maya now serves 5.4 million customers, using transaction data for credit scoring to reach underserved populations. This strategy has spurred lending growth, particularly to those excluded from traditional banking.
Strategic partnerships with companies like Landers Supermarket, Grab, Tala, and WeFund have supported the bank’s growth, expanding its offerings to include consumer loans and credit cards.
The bank offers loans up to ₱250,000 with same-day approval and disbursement, while small businesses can access collateral-free loans of up to ₱2 million, helping to foster growth in the SME sector.
Maya’s rapid expansion is driven by technology, including artificial intelligence (AI) and machine learning, which process millions of transactions, improving credit scoring, preventing fraud, and providing personalized services.
“Our goal is to create a financial system that works for every Filipino,” highlighting the bank’s role in driving financial inclusion and contributing to the Philippines’ digital economy,” said Maya Bank president Angelo Madrid.
