Maya is taking a revolutionary approach to lending. By harnessing the power of artificial intelligence (AI), Maya is making credit more accessible to Filipinos who’ve traditionally been overlooked by traditional banks.
Gone are the days of tedious paperwork and long wait times. With AI, Maya can assess creditworthiness in real-time, based on a user’s digital footprint, from their transaction history to their app usage. This means that even small, everyday transactions, like paying bills or buying groceries, can contribute to a stronger credit profile.
“AI is not just about making credit accessible,” explains Alfred Lo, Maya Group’s Chief Technology Officer. “It’s about understanding people’s financial behaviors and tailoring solutions to their specific needs.“
This innovative approach is paying off. Maya’s loan disbursements have surged to a record high of ₱67 billion as of September 2024. This rapid growth is a testament to the increasing demand for accessible and affordable credit in the Philippines.
But Maya’s ambitions extend beyond lending. The bank is expanding its offerings, partnering with retail giants like Landers to launch new credit cards with personalized credit limits and repayment plans. This strategic move aims to deepen Maya’s engagement with consumers, especially in underserved markets.
By leveraging AI, Maya is not only reshaping the Philippine financial landscape but also setting a new global standard for digital banking.
