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Maya posted record P68-bloans in 2024

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Maya, the country’s leading digital bank, said Wednesday it closed 2024 with a standout performance, achieving P39 billion in deposit balances and disbursing a record P68 billion in loans.

It said that since 2022, the digital bank has disbursed P92 billion in loans.

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

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

Maya’s customer base reached 5.4 million, solidifying its leadership in financial innovation.

Maya said its growth was driven by seamlessly integrating payments and banking into one ecosystem. The bank leverages its payments network to expand its banking services, while its banking products boost the growth of its payments business.

E-wallet users are introduced to savings products, earning up to 15-percent 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 a wide range of merchants have amplified this momentum, including credit card partnerships with Landers Supermarket, Grab consumer lending, and loan channeling with Tala and WeFund.

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 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

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.

Maya 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.

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 Maya Bank president Angelo Madrid. “Whether saving for the future or expanding a business, Maya empowers users to take control of their finances.”

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