In a landmark victory for the Philippines’ burgeoning digital finance landscape, Maya, the country’s leading digital bank, has been crowned the “Best Virtual Bank in the Philippines” at the prestigious Asian Banking & Finance Retail Banking Awards for the third consecutive year.
This unprecedented three-peat win is a powerful validation of Maya’s innovative, fully digital ecosystem and its profound impact on financial inclusion for millions of Filipinos.
This award is not just another accolade; it’s a strong signal of the growing maturity and importance of digital banking in the Philippines. For a country where a significant portion of the population remains unbanked and small businesses struggle to access formal credit, Maya’s success is a beacon of progress.
Financial services made simple for Filipinos
The win underscores how a seamlessly integrated digital platform can overcome traditional barriers, bringing essential financial services directly to the palms of a new generation of consumers and micro, small, and medium-sized enterprises (MSMEs).
“We’ve built a platform that makes managing finances simple, smart and accessible for both consumers and enterprises, while growing Maya sustainably as a business. This recognition is proof that digital banking can create real impact at scale for large underserved and unserved segments in the Philippines,” said Shailesh Baidwan, Maya Group President and Maya Bank Co-Founder.
The win is particularly significant for the Philippine fintech sector and the e-wallets that have become a daily necessity for many. As the e-wallet market has become increasingly saturated, Maya’s strategy of combining its widely used payments network with a full-fledged digital bank has proven to be a game-changer.
By leveraging real-time data from user and merchant activities, Maya is able to provide smarter credit decisions, enhanced fraud protection, and highly personalized financial products. This integrated approach elevates the traditional e-wallet experience, turning it into a comprehensive financial tool that drives both usage and loyalty.
This strategic fusion has fueled phenomenal growth. Maya’s latest financial reports paint a picture of a company on a steep upward trajectory. Deposits surged to ₱44 billion, marking a 49% increase year-on-year in Q1 2025. Loan disbursements tripled to ₱28 billion, and the customer base exploded to 6.8 million, an impressive 88% increase. With total cumulative loans since its launch now topping ₱120 billion, Maya has solidified its position as the undisputed leader in the digital banking space.
Angelo Madrid, President of Maya Bank, emphasized the company’s dedication to its users. “We owe this achievement to our customers who trust us every day, and to our employees whose dedication powers everything we do. This recognition motivates us to keep raising the bar and to serve Filipinos even better with digital banking that truly makes a difference in their lives,” he said.
Pioneering financial inclusion
Maya’s impact on financial inclusion is particularly noteworthy.
According to the Bangko Sentral ng Pilipinas (BSP), over half of Filipino adults saved at home or borrowed informally in 2021, and recent data shows only 4% of bank loans reach MSMEs, which comprise 99% of all businesses in the country. It has directly addressed these gaps by providing accessible and easy-to-use digital banking and payment solutions for mobile-first Millennials, Gen Zs, and MSMEs.
By offering high-yield savings accounts, easy credit access, and seamless payment solutions within a single app, the company is actively converting informal financial behaviors into formal, secure, and digitally-managed ones.
The company’s robust platform is built on an integrated ecosystem that combines Maya Bank’s digital banking with Maya Philippines’ digital payments network. This creates a virtuous cycle where every transaction, whether it’s a payment at a sari-sari store or an online purchase, becomes a data point.
This data-driven approach allows Maya to build accurate credit profiles for users who have no traditional banking history, enabling them to offer fair and timely loans that were previously unavailable. This not only benefits individual users but also stimulates economic activity by empowering small business owners.
Maya: A commitment to continuous innovation
This latest honor from Asian Banking & Finance follows Maya’s previous wins as Best Virtual Bank in 2023 and Best New Virtual Bank in 2024, demonstrating consistent innovation and leadership. This sustained success is a testament to the powerful potential of digital solutions to create an inclusive financial system.
For the Philippines, a nation with a mobile-first populace, Maya’s win can be seen as more than just an award — it’s a powerful validation of the path toward a more financially empowered future.
The company’s commitment to raising the bar and continuously improving its services ensures it remains at the forefront of the country’s fintech evolution, creating a tangible difference in the lives of millions of Filipinos.
