Maya has solidified its position as the undisputed top digital bank in the Philippines, winning over millions of customers who made the switch to the only all-in-one digital banking app, which brings together banking, rich e-wallet features, and investments.
It now has a 61 percent market share of digital banking accounts, based on submitted company data and the latest official data released by the Bangko Sentral ng Pilipinas (BSP).
Maya has achieved a commanding lead, securing 71 percent of total depositors and 46 percent of the total deposit balance among licensed digital banks as of March 2023.
Remarkably, this milestone was achieved in under a year since Maya’s public launch in April 2022.
During the same period, over 1.8 million Filipinos have embraced the Maya experience and created their own deposit accounts, collectively accumulating approximately PHP 21 billion in deposit balance.
Since then, the number of Filipinos choosing Maya as their preferred digital bank has continued to grow. As of the end of June 2023, Maya has drawn the trust of 2.3 million depositors, amassing a remarkable P25 billion in deposit balance.
“With Maya, we’re enabling Filipinos to make their money work harder and we’re very happy to see our all-in-one digital banking thrust working for our customers. It inspires us to continue to create innovative and meaningful financial services for the large segments of unbanked and unhappily banked customers,” said Shailesh Baidwan, Group President at Maya and Maya Bank Co-Founder.
“We’re thrilled to see more Filipinos embracing seamless digital banking. Our growing traction in deposits sets the stage for us to accelerate fintech adoption, unlocking substantial credit opportunities for the unbanked and the unhappily banked,” said Angelo Madrid, Maya Bank President.
The commanding market presence attained within its inaugural year underscores Maya’s ecosystem advantage, pioneering first-to-market innovations such as gamified savings, daily interest crediting, username, and AI-driven credit, further strengthening its extensive network of users and partners.
Maya’s stellar savings product has played a significant role in driving fintech adoption.
Recognized internationally by Forbes Magazine, The Digital Banker, Asian Banking & Finance, and Juniper Research as one of the world’s best banks, Maya is at the forefront of the digital banking revolution in the Philippines. It stands as the sole fintech provider offering advanced digital banking services across a comprehensive financial services ecosystem.
With Maya, Filipinos are reimagining their saving and spending habits. A secure deposit account is now just a simple app download away, thereby setting new standards in the financial landscape. Maya has made saving a delightful experience through its innovative gamified banking, allowing users to earn up to a 10 percent interest rate, credited daily, by conducting daily transactions with Maya.
Moreover, the Personal Goals feature enhances the banking experience, enabling users to earn higher interest rates while managing funds for specific purposes, such as emergency funds, new gadgets, or well-deserved vacations.
These groundbreaking advancements have translated into remarkable customer satisfaction, with Maya Savings earning an impressive Net Promoter Score of 77 by the end of 2022, indicating high customer delight and readiness to recommend Maya to others.
Notably, it stands as the top-rated consumer finance app on both Google Play Store and Apple Store, surpassing other bank and e-wallet apps.
By seamlessly merging the convenience of a feature-rich e-wallet with an easy-to-use investment platform and secure banking products, Maya provides an all-in-one financial experience. As a result, Maya’s bank customers are conducting 2x to 3x more transactions compared to e-wallet-only users, allowing Maya to build a more robust credit footprint for its customers.
On the other hand, Maya offers businesses a compelling growth opportunity with its business deposit, yielding a 2.5 percent p.a. interest rate – a figure that is 20 to 25 times higher than what conventional banks’ offerings.
Maya is the #1 Fintech Ecosystem in the Philippines with Maya, the #1 Digital Bank, and Maya Business the #1 Omni-Channel Payment Processor.
It is powered by Maya Philippines, the country’s only end-to-end digital payments company, and Maya Bank, a digital bank supervised by the Bangko Sentral ng Pilipinas.
