Maya Bank to focus on underserved sectors, improving services amid growing competition

MAYA BANK, Inc, will focus on underserved sectors like small and medium enterprises (SME) and improving its product offerings and services to drive its growth as it faces heightened competition from other financial technology (fintech) players and digital service providers.

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“It’s really about being more creative with the products you offer and being more customer-centric in how you serve,” Maya Bank Chairman Alfredo S. Panlilio told BusinessWorld on the sidelines of a recent event.

The bank is focused on continuously improving its services and the customer experience they provide, particularly for underserved markets as they aim to be more inclusive, he said.

“We're always, from the very start, targeting the unbanked because 70% of Filipinos are unbanked. Also, the SMEs have little if no access to financial services. So, that’s an area that we're working on.”

In February, Maya Bank launched a financial literacy program for micro, small, and medium enterprises (MSMEs) that also gives them access to credit called Negosyo Serye. It is for eligible small business owners who operate Maya Center businesses.