{"id":26795,"date":"2025-01-20T16:16:32","date_gmt":"2025-01-20T08:16:32","guid":{"rendered":"http:\/\/www.techbeatph.com\/wproot\/?p=26795"},"modified":"2025-01-20T16:16:32","modified_gmt":"2025-01-20T08:16:32","slug":"maya-expands-banking-in-the-philippines-a-game-changer","status":"publish","type":"post","link":"https:\/\/www.techbeatph.com\/wproot\/maya-expands-banking-in-the-philippines-a-game-changer\/","title":{"rendered":"Maya Expands Banking in the Philippines: A Game Changer!"},"content":{"rendered":"

Maya Expands Banking in the Philippines: A Game Changer!<\/strong><\/p>\n

Maya, the No.1 Digital Bank in the Philippines, is revolutionizing financial access in underserved regions! Since 2022, they have disbursed over \u20b192 billion in loans. Currently, 70% of Maya\u2019s customers reside outside Metro Manila, where lending and savings activities are growing faster than in the capital. What a remarkable achievement!<\/p>\n

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Simplifying Banking for All<\/strong><\/p>\n

\u201cBanking should be easy, inclusive, and delightful,\u201d said Shailesh Baidwan, Maya Group President and Maya Bank Co-Founder. Maya\u2019s growth outside Metro Manila highlights how digital banking is driving financial inclusion at scale. A 2021 study by the Bangko Sentral ng Pilipinas (BSP) revealed that over half of Filipino adults still save money at home or rely on informal lenders. Maya tackles this by simplifying banking: opening an account takes just one valid ID. Customers can save with no minimum balance while earning competitive interest rates through Maya Savings.<\/p>\n

Instant Loans with Minimal Hassle<\/strong><\/p>\n

Maya\u2019s app processes loans instantly, using alternative data and transaction insights to assess creditworthiness. This removes the need for collateral or extensive paperwork, making it easier for more Filipinos to access credit.<\/p>\n

Expanding Credit and Savings Access<\/strong><\/p>\n

Active borrowers for Maya Easy Credit in non-Metro Manila regions grew 82% year-on-year, outpacing Metro Manila\u2019s 64% growth as of December 2024. Regional borrowers accounted for over 70% of Maya\u2019s overall borrower growth. Maya Easy Credit, a 30-day credit line, enables users to pay bills, purchase load, shop online or in-store, and transfer funds to their Maya Wallet when additional cash is needed.<\/p>\n

Savings growth mirrors Maya\u2019s regional success! Deposit balances in non-Metro Manila areas rose 67% year-on-year as of December 2024, compared to Metro Manila\u2019s 47%. Regional areas now drive over half of Maya\u2019s total deposit growth. Maya offers consumers a range of savings options tailored to their needs, including Maya Savings, Personal Goals, and Time Deposit Plus products.<\/p>\n

Transforming Lives Outside Metro Manila<\/strong><\/p>\n

\u201cOutside Metro Manila is where the most transformation is happening,\u201d said Angelo Madrid, Maya Bank President. The surge in savings and credit shows Maya\u2019s platform\u2019s impact on more Filipinos. Traditional banks allocate over 80% of their lending portfolios to Metro Manila, according to BSP data as of June 2024. Maya is shifting this trend! Regional loan drawdowns surged 137% year-on-year, contributing nearly 70% of its lending growth.<\/p>\n

\u201cWith digital banking that\u2019s intuitive, we\u2019re reaching communities that have been underserved for far too long. We\u2019re empowering more Filipinos with the tools to take charge of their financial future,\u201d Baidwan emphasized.<\/p>\n

The Future of Banking<\/strong><\/p>\n

The future of banking in the Philippines looks bright with Maya leading the way. Their efforts to simplify banking and make financial services accessible to all are commendable. As they continue to grow and innovate, more Filipinos will benefit from their inclusive approach. Whether it\u2019s opening a savings account with just one ID or accessing instant loans without collateral, Maya is making banking easier for everyone.<\/p>\n

A New Era of Financial Inclusion<\/strong><\/p>\n

Maya Expands Banking in the Philippines is a game-changer! By providing easy access to banking services, they are empowering Filipinos to take control of their financial futures. The surge in savings and loan growth outside Metro Manila is proof of their impact. With their intuitive digital banking platform, Maya is truly revolutionizing financial access in the country.<\/p>\n","protected":false},"excerpt":{"rendered":"

Maya Expands Banking in the Philippines: A Game Changer! Maya, the No.1 Digital Bank in the Philippines, is revolutionizing financial access in underserved regions! Since 2022, they have disbursed over \u20b192 billion in loans. Currently, 70% of Maya\u2019s customers reside outside Metro Manila, where lending and savings activities are growing faster than in the capital….<\/p>\n","protected":false},"author":3,"featured_media":26724,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[4162,1629],"tags":[5571,5666,1091,5668,4171,5663,1673,5665,1775,5667,5664,4169],"class_list":["post-26795","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fintech","category-news","tag-angelo-madrid","tag-banking-innovation","tag-digital-banking","tag-financial-access","tag-financial-inclusion","tag-loans","tag-maya","tag-maya-easy-credit","tag-philippines","tag-regional-banking","tag-savings","tag-shailesh-baidwan"],"_links":{"self":[{"href":"https:\/\/www.techbeatph.com\/wproot\/wp-json\/wp\/v2\/posts\/26795","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.techbeatph.com\/wproot\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.techbeatph.com\/wproot\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.techbeatph.com\/wproot\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.techbeatph.com\/wproot\/wp-json\/wp\/v2\/comments?post=26795"}],"version-history":[{"count":1,"href":"https:\/\/www.techbeatph.com\/wproot\/wp-json\/wp\/v2\/posts\/26795\/revisions"}],"predecessor-version":[{"id":26796,"href":"https:\/\/www.techbeatph.com\/wproot\/wp-json\/wp\/v2\/posts\/26795\/revisions\/26796"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.techbeatph.com\/wproot\/wp-json\/wp\/v2\/media\/26724"}],"wp:attachment":[{"href":"https:\/\/www.techbeatph.com\/wproot\/wp-json\/wp\/v2\/media?parent=26795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.techbeatph.com\/wproot\/wp-json\/wp\/v2\/categories?post=26795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.techbeatph.com\/wproot\/wp-json\/wp\/v2\/tags?post=26795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}