Majority of Maya Bank customers from regional areas

MANILA, Philippines — More than two-thirds of the customers of Maya Bank reside outside of Metro Manila as its digital services give more Filipinos access to financial services.

By the end of 2024, Maya Bank served 5.4 million customers, 70 percent of which live outside Metro Manila.

“Outside Metro Manila is where the most transformation is happening,” Maya Bank president Angelo Madrid said.

“The surge in savings and credit shows our platform’s impact on more Filipinos,” he said.

During the same period, the digital bank had increased deposits to P39 billion and disbursed P68 billion in loans, resulting in total loan disbursements of P92 billion since 2022.

Maya Bank said loan activity outside Metro Manila is growing fast, with active borrowers for Maya Easy Credit rising 82 percent year-on-year, compared to 64 percent in Metro Manila as of December 2024.

Similarly, regional deposit balances surged 67 percent year-on-year, now accounting for more than half of Maya’s total deposit growth.

“Maya’s success in expanding banking access across the Philippines is rooted in its deep understanding of its customers. Maya designs its products for young, tech-savvy Filipinos and small business owners who are often excluded from traditional banking,” the bank said.

It explained that opening an account requires just one ID, with no minimum balance.

For entrepreneurs, Maya provides collateral-free loans of up to P2 million, enabling businesses to access much-needed working capital. Consumers can apply for loans of up to P250,000 and receive approval and disbursement within the same day through the Maya app.

The bank said 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.

“Banking should be simple and empowering,” Maya Group president and Maya Bank co-founder Shailesh Baidwan said.

“By merging payments and banking on one delightful digital experience, we’re enabling more Filipinos to save, borrow, and grow their money with ease,” Baidwan said.

Maya said its key differentiator is its ability to turn payment activity into a gateway for financial services.

It uses transaction data to assess creditworthiness, allowing it to offer loans without collateral or excessive paperwork. It also rewards customers with higher savings interest rates based on payment activity and app engagement.

Moreover, the digital bank said its rapid growth is underpinned by advanced technology.

“AI and machine learning process billions of microtransactions to enhance credit scoring, prevent fraud, and deliver personalized services,” Maya Bank said.

It added that its 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.

“The approach is paying off. Regional loan drawdowns surged 137 percent year-on-year, now accounting for 70 percent of Maya’s lending growth,” the bank said.

Additionally, embedded finance partnerships with retailers and fintech players, including Landers Supermarket, Grab, Tala and WeFund, further extend Maya’s lending reach.

“With digital banking that’s intuitive, we’re reaching communities that have been underserved for far too long,” Baidwan said.