The challenge
While banks remain a symbol of financial security and upward mobility in the Philippines, traditional banking is often inaccessible and inconvenient. This leaves millions of Filipinos:
Unbanked
About 79% of adults under socioeconomic class D and 87% of adults under class E are unbanked or without a financial account.1
Underbanked
Out of 18 million adults with a bank account, only 9 million keep savings with their bank, and only 1.4 million have availed of bank loans.2
Unhappily Banked
Filipinos are dissatisfied with traditional banking and its virtually non-existent savings interest earnings and poor mobile app service, as shown by the underwhelming app ratings of the big banks.3
1 2021 Financial Inclusion Survey, Bangko Sentral ng Pilipinas (BSP)
2 Ibid
3 Average rating on Apple Store for the top five largest banks is 1.9 out of perfect 5 as of April 3, 2024.
Our solution
Maya stepped up, merging the security of banking with the convenience of fintech to offer delightful banking that’s accessible to all.
We made saving more rewarding by empowering our customers to earn up to 14% interest rate per annum
We scaled unsecured credit disbursement to borrowers using alternative data for credit scoring
We launched credit products for SMEs and sari-sari stores while leveraging our ecosystem to gain a unique insight into these businesses
As a result, Maya has become the fastest and easiest way to get everyone banked—and we’re only getting started.
Our impact
In just a little over a year, Maya has shown how digital banking can supercharge financial inclusion.
Empowering future generations
With 31% of our depositors and 20% of our borrowers being Gen Zs, and Millennials making up 53% of our depositors and 66% of our borrowers, we are effectively integrating the country’s future wealth creators into the financial system.
Breaking barriers
With Maya Bank being the first source of credit for 59% of our borrowers, we have demonstrated how digital banking can be the simplest route toward financial access for the unbanked and underbanked.
And our strategy has already started to pay off.
Record credit growth
By leveraging AI and tech to transform customer transaction data into powerful lending decisions, 2023 loan disbursements jumped to ₱22B in 2023 from just ₱3B a year earlier.
Unmatched customer acquisition
Our depositor base doubled, reaching 3 million by the end of 2023 and causing our deposits to surge to approximately ₱25B.
Maya is now the undisputed leader in digital banking, amassing multiple awards and recognitions here and abroad
- 🏦 Banking
- 💼 Work Environment
- ✨ Marketing
- World's Best Banks List (2023)
- Fintech 250 List (2022)
- Best Consumer Digital Bank in the Philippines
- Best Mobile App in the Philippines
- Best Digital Deposit Service
- Best Merchant Service
- Best Digital Brand Campaign
- Best B2C/B2B Banking Initiative
- Most Innovative Merchant Service
- Silver, Fintech Category
- Bronze, Branded Content Categoryt
- The Big Bang Category
- The Changemaker Category
- The Collaborator Category
- The Firestarter Category
- The Long and Short Category
- The Big Category (Project Hope)
- The Collaborator (Project Hope)
- Art Direction
- Best Cinematography
- Best Editing
- Film Animation
- Film Direction
- Film Production & Design
- Film Visual Effects
- Audio Visual Branded Content Talent
- Touchpoints & Technology
- Business to Business Communication Category (1-2-3 Grow Bundle Campaign)
- Marketing and Brand Communication Category (My Money, My Bank, My Way Campaign)
- Influencer Marketing Category
- Best Use of Social Media Categor
- Marketing and Brand Communication Category (PayDay Save Campaign)
- Audio/Visual Category (Free ₿itcoin Campaign)
- Audio/Visual Category (PayMaya is Now Maya Campaign),
- Event Category (PayMaya is Now Maya Campaign)
- Event Category (Make Big Moves with Maya Business)
- Website Category (Maya Website Refresh)
- Audio/Visual Category (Verified Seller Program)
And we’re also the #1 fintech ecosystem in the Philippines
Financial & Operational Highlights
Financial & Operational Highlights
Operational Highlights
Powered by our fintech ecosystem, we have made banking simple, innovative, and inclusive, cementing our position as the fastest and safest way to get everyone banked.
In 2022, we revolutionized the game. For the first time, consumers and businesses could enjoy digital payments and digital banking through a single platform. A year later, Maya pushed even further, accelerating game-changing innovations from high engagement banking to lending powered by artificial intelligence (AI) and machine learning (ML).
Empowering future generations
With Gen Zs constituting 31% of our depositors and 20% of our borrowers, and Millennials making up 53% and 66% respectively, we're integrating the future's wealth creators into the financial system.
Breaking barriers
Maya research shows that 59% of our borrowers have Maya as their sole source of credit, highlighting digital banking as the simplest route toward financial access for the unbanked and underbanked.
Consumer
Banking Highlights
Consumer
Banking Highlights
Maya’s success lies in making banking intuitive. By integrating banking into the daily lives of our customers, we’re helping them build their financial standing and enhance their credit profile. Beyond financial inclusion, we are also promoting financial well-being and independence.
Our Spend > Save > Borrow > Grow strategy is drawing in a growing base of highly engaged customers into our ecosystem. Our goal is to encourage each customer to increase their smart spending, such as bill payments and card usage, to earn higher savings interest and improve their credit score.
These improved credit scores, in turn, unlock Maya’s loan offerings for our customers, giving them access to additional resources they can use to further enhance their wise spending. This cycle ultimately drives new and repeated loan use as well as repayment efficiency.
In addition, our prudent credit management practices allow us to further boost lending participation and give us a unique edge in fostering financial inclusivity and growth. Because of our extensive ecosystem, we are also able to offer our customers wealth-building products they can use to grow their money and build a better financial footprint.
Discover Maya’s suite of game-changing deposit and credit products
Maya Savings makes saving easier and more rewarding for our customers by allowing them to open an account with any amount and just one ID via the app
Explore Maya Savings
Personal Goals gives our customers the tools they need to easily budget their money for the things that truly matter to them—all while earning 4% interest rate p.a., credited monthly.
Explore Personal Goals
Time Deposit Plus empowers our customers to grow their money more quickly by allowing them to start with any amount, open up to 5 accounts worth ₱1M each, and earn up to 6% interest rate p.a. on each one.
Explore Time Deposit Plus
Maya Easy Credit
gives eligible customers instant access to up to ₱30,000 for their essential and emergency expenses.
Explore Easy Credit
Maya Personal Loan
helps customers with good credit standing make significant life moves, such as upgrading their homes, paying tuition, or buying a vehicle, by giving them instant access to up to ₱250,000.
Explore Personal LoanBusiness
Banking Highlights
Business
Banking Highlights
Powered by Maya Bank for banking services and Maya Philippines for digital payments, Maya Business saw an opportunity to offer simplicity in a world of complexity, seamlessly integrating a comprehensive suite of financial services through a single digital platform.
Maya Business: All-in-one business growth partner
Business Deposits
Designed to simplify money management for Maya Business clients of any size with a single account, Maya Business Deposit is a fully digital deposit product powered by Maya Bank
Maya Advance
A loan product available in the Maya Business app, Maya Advance provides prequalified Maya Center agents with quick and accessible funding they can use to grow their business and manage their finances better
Flexi Loan
Offering up to ₱2M in unsecured loans, Flexi Loan provides MSMEs with flexible and accessible financing options
Delightful Banking Built on a Solid Tech Foundation
Our approach to creating game-changing financial solutions is not only guided by our mission to accelerate financial inclusion in the country, but powered by a robust technological foundation.
Cloud-based
For unmatched go-to-
market speeds
Driven by data and AI
For smarter business decisions,
policies, and processes
Secure and private
For worry-free banking
Highly scalable
For superior adaptability to
ever-changing market
demands
Available 24x7
For maximum convenience
and reliability
Testimonials
Cultivating Corporate Governance
Cultivating Corporate Governance
Our Promise
Maya Bank is committed to the highest standards of governance in line with BSP and SEC guidelines. Our shareholders, Board of Directors, and Senior Management recognize the crucial role of good governance in strategic decisions. We cultivate awareness of its importance to meet our economic, ethical, legal, environmental, and social obligations. To support adherence, we have a Corporate Governance Manual (CGM) that outlines our principles, values, and compliance with laws and internal policies. Regularly updated, the CGM guides us in improving financial health, accelerating financial inclusion, fostering competitiveness, delivering top-notch customer support, and adhering to applicable laws and regulations.
Governance Culture
We are committed to conducting our business according to the highest ethical standards.
We ensure strong leadership in governance and compliance
We are committed to compliance and consumer protection
Compliance Program
Maya Bank promotes a strong compliance culture starting from the top leadership. The Board of Directors, President, and Senior Management set the example and require all team members to understand and adhere to relevant laws and regulations. The Compliance Office, led by the Chief Compliance Officer, ensures organizational adherence to both regulatory and internal policies. Operating independently, it reports issues directly to the Board of Directors through the Risk Oversight and Compliance Committee.
Anti-Money Laundering, Terrorist Financing, and Proliferation Financing
Maya Bank is committed to conducting business ethically and responsibly through robust anti-money laundering, counter-terrorist financing, and counter-proliferation financing programs. We continuously update our policies, use advanced technology to detect suspicious activities, and train our staff to identify and report suspicious transactions. We collaborate with government agencies, law enforcement, and other banks to enhance our efforts against financial crimes while prioritizing customer and shareholder privacy.
Consumer Protection Policy
We are committed to upholding the highest standards of business conduct and consumer protection through policies and procedures based on relevant regulations, ensuring our Consumer Protection Framework, modeled on BSP regulations, provides the best financial customer experience, measured by customer satisfaction, reliability, and trust.
Internal Audit
Maya Bank’s independent Internal Audit team ensures our operations are efficient and effective by identifying and managing risks, maintaining accurate information, and ensuring compliance with policies and legal requirements. They oversee resource management, goal achievement, and process quality, addressing any legal or regulatory issues promptly. With unrestricted access and direct communication with the Audit Committee, they enforce actions based on significant findings. Reporting to the Board via the Audit Committee, they maintain independence from daily operations. Meanwhile, the Audit Committee supports the Board by overseeing internal audits and ensuring a robust control framework covering reporting, compliance, efficiency, and asset protection, addressing deficiencies promptly.
Managing Risk
Managing Risk
Risk Governance and Structure
At Maya Bank, we have established an internal Risk Management Framework with set risk limits to ensure the Bank remains compliant with regulatory requirements. To maintain strict adherence, these limits are closely monitored through a red, amber, and green rating system.
Additionally, Maya Bank has instituted a clear structure of responsibility and accountability among risk stakeholders. This structure guarantees oversight, compliance, and actions are effectively aligned with our commitment to efficiently managing risks.
Risk Management
Maya Bank’s Risk Management Framework includes internal risk limits to ensure regulatory compliance, monitored using a red, amber, and green rating approach. Several committees, such as the Risk Oversight and Compliance Committee (ROCCom), the Asset and Liquidity Committee (ALCO), and the Credit Committee (CreCom), oversee and manage different aspects of risk, developing and implementing risk policies, and managing the bank’s balance sheet.
These committees also oversee the bank’s credit strategy, coordinating with the Board of Directors to review, approve, and execute strategies and decisions in line with regulatory requirements. Internal risk limits are monitored for compliance using an RAG rating approach for escalation.
Three Lines of Defenses
The Bank safeguards its operations with three lines of defense. The first line involves business units managing risk exposures and collaborating with Risk Management and Compliance to identify and report potential risks. The second line involves Risk Management and Compliance overseeing and ensuring the identification, monitoring, and reporting of risks, adherence to limits, and compliance with internal policies and BSP regulations in the Bank’s Asset & Liability Management (ALM) and capital management activities. The third line involves Compliance, which ensures adherence to policies and regulations through annual reviews. At the same time, Internal Audit evaluates and improves governance, risk management, and control processes.
Risk Appetite Statement
Maya Bank acknowledges the need to ensure that risks are within the appetite of the organization to maintain our integrity and the trust of the customers, investors, and stakeholders. Thus, Risk Appetite Statements are crafted and monitored periodically as a control.
Nurturing Talent
Nurturing Talent
Talent Management as Catalyst for Growth
In the dynamic landscape of Maya, our performance management program is built on the Objectives and Key Results (OKRs) Framework, fostering a continuous cycle of growth and development. This revolutionary program emphasizes Alignment, Engagement, Collaboration, and Adaptability, ensuring teams and individuals align with organizational goals, enhancing performance by highlighting task significance, promoting teamwork to achieve objectives, and regularly reviewing OKRs for relevance. The focus is on ongoing conversations about feedback and development.
Fair and Competitive Compensation
Our compensation program is based on three main principles: pay for position, pay for person, and pay for performance. It aims to provide fair and competitive compensation to empower employees and encourage them to do their best work. Fair compensation, empowerment, and meaningful work are emphasized to drive employee success and contribute to the overall success of the company.
Growing Continuously
At Maya Bank, we prioritize continuous growth through diverse learning opportunities. Our team engages in self-led learning via platforms like LinkedIn Learning and O'Reilly, accessing courses and resources tailored to business, technology, and leadership. We offer adaptive learning paths based on business needs and support experiential learning activities such as onboarding facilitation, mentorship, and content development to enhance our employees' skills and knowledge.
Cultivating Thriving Teams through Active Listening and Connectedness
At Maya Bank, our Employee Engagement and Communications Programs integrate work and life seamlessly and continually evolve our culture. We listen to employees through our engagement platform, tailor programs to meet their needs, and empower managers to lead meaningful team discussions. We involve all teams in creating a connected environment through events, activities, our internal Maya Hub, and peer well-being groups, resulting in a positive trend in our employee engagement score on the global Glint benchmark in 2023.
Prioritizing Safety and Well-being
At Maya, we prioritize the safety and well-being of our employees through a holistic approach. Our initiatives include a 24/7 Employee Assistance Program, bi-monthly Wellbeing Talks, Employee Growth Program supporting Peer Well-being Groups, and the SAFEwork Program for employee safety during the pandemic.
Thriving at Maya:
Empowerment at Work and in Life
Fostering Sustainability
Fostering Sustainability
Maya ESG Framework
Maya aimed to expand financial inclusion by enabling Filipinos to start sending and accepting cashless payments, allowing them to own a basic financial inclusion. Our effort paid off as the number of Filipinos with financial accounts increased. We are now on to the next phase of financial inclusion, empowering Filipinos to utilize their financial accounts to improve their financial health and wellbeing. This is the core of Maya’s ESG commitment. We want our customers to use our platform to manage and master their money confidently.
ESG Pillars
Our ESG Framework is anchored on three pillars: Environmental, Social, and Governance, supporting the UN Sustainable Development Goals and aligning with the Bangko Sentral ng Pilipinas and shareholder policies. We are committed to minimizing our environmental footprint, empowering communities and employees through innovation, and becoming thought leaders among stakeholders and regulators. With ERM’s assistance, we conducted a materiality assessment highlighting our ESG Principles: Respect for People, Communities, Transparency, and the Environment. We prioritize customer financial safety, employee satisfaction, regulatory compliance, information security, and transparent communication of our environmental and community impact.
ESG Goals
Based on our materiality assessment, we have laid down our priority goals for each sustainability pillar relevant to our business and shareholders.
Minimizing Maya’s Environmental Footprint
Our goal is to achieve net zero by 2050, in line with the Paris 2015 Agreement. Our baseline GHG emissions study revealed a low carbon footprint per employee, indicating Maya is not a major source of emissions.
