Maya Bank Inc., the fintech arm of PLDT Inc., on Tuesday reported doubling its depositors to 3 million last year, its deposits totaling P25 billion or 69 percent more than previous.
Maya also deployed P22 billion in loans last year, a seven-fold increase from a mere P3 billion in 2022, using customer transaction data to make quick and efficient lending decisions.
“We’re redefining how Filipinos interact with their money,” Shailesh Baidwan, Maya president and Maya Bank co-founder, said.
“Our all-in-one platform is a response to the real, daily financial needs we’ve seen and heard from our customers, and we’re committed to bringing them even more innovative solutions,” he added.
The fintech claimed capturing 57 percent of the digital bank depositor universe based on Bangko Sentral ng Pilipinas (BSP) data as of September last year.
Only six digital banks have been licensed thus far in the Philippines. Aside from Maya Bank, the rest include GoTyme Bank led by the Gokongwei family, the Overseas Filipino (OF) Bank of the Land Bank of the Philippines, UNO digital bank of UNOAsia Pte Ltd, of Singapore, the UnionDigital Bank of the Aboitiz group and Tonik Digital Bank Inc., led by Singapore’s Tonik Financial Pte. Ltd.
Maya claims the distinction as the only digital bank app offering savings, credit, e-wallet, crypto, insurance, investment, and rewards.
“Banking shouldn’t be a chore, and that’s what we’re changing at Maya,” Angelo Madrid, bank president, said.
“Every payment you make on the Maya app is not just a transaction, it’s a step towards bigger savings and smarter credit. That’s our mission, making finance a seamless part of daily life,” he said.
