Maya Bank’s loan disbursements reach P67 billion at end-Sept.
MAYA BANK, Inc. has disbursed P67 billion in loans thus far as of September, driven by its artificial intelligence (AI)-powered credit assessment process, it said on Monday,
“AI is transforming how we approach banking. It’s not just about making credit accessible — it’s allowing us to understand people’s financial behaviors better and therefore offer solutions that fit their lives,” Maya Group Chief Technology Officer Alfred Lo said in a statement.
“Maya… is using artificial intelligence to expand access to credit, especially for Filipinos often overlooked by traditional lenders… Maya’s AI-driven model provides real-time, personalized credit assessments, revolutionizing how Filipinos access loans and financial services,” the digital bank added.
It said its AI-powered credit risk assessment model allows it to process up to 50,000 loan applications daily, with most of its borrowers receiving loan approval and their funds within hours and all via its mobile app.
“Maya distinguishes itself by using AI to assess creditworthiness based on users’ transaction history, app usage, and even minor transactions like bill payments or grocery purchases,” it said.
“The bank’s use of predictive modeling ensures that loans align with individual risk profiles, emphasizing both accessibility and sustainable lending.”
This monitoring, part of its risk management mechanism, allows it to target borrowers with the capacity to pay, adjusting credit limits to reduce the likelihood of default.
“By leveraging AI models that quickly adapt to credit behavior, the bank has cut default rates by over 50% compared to when it launched its lending services in 2022,” Maya added.
Its AI model has also helped in fraud detection, as it identifies fraudulent loan applications and prevents unauthorized fund drawdowns.
The digital bank previously said it expects to breakeven by this year and be profitable by 2025.
Maya Bank is owned by Voyager Innovations, Inc. PLDT Inc. is Voyager’s main shareholder. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls.
It is one of the six Bangko Sentral ng Pilipinas-licensed digital lenders in the country, with the others being Tonik Digital Bank, Inc., GoTyme Bank, Overseas Filipino Bank, UNObank, and UnionDigital Bank. — AMCS