To mark this year’s International Internal Audit Awareness Month, the Internal Audit Group of PLDT Inc and its wireless arm Smart Communications, Inc (Smart) in collaboration with JG Summit Holdings Internal Audit, hosted a high-level forum and panel and discussion themed “Thriving in an Era of Disruption.” The event, which was organized for the MVP Group and Gokongwei Group of Companies, brought together leaders from telco, fintech, transport and agriculture to explore the evolving role of Internal Audit as a strategic ally in today’s volatile landscape.

PLDT Chief Operating Officer Butch Jimenez, in his opening message, urged leaders to advocate for their respective Internal Audit teams. “As leaders, we must champion Internal Audit — not as fault-finders, but as strategic partners. When we value and empower them, the rest of the organization will follow. Internal Audit is not a monster with a whip, but a mentor that keeps us on the straight and narrow path of our corporate life, guiding the company to success.”

PLDT Chief Operating Officer Butch Jimenez urges leaders to advocate for their respective Internal Audit teams, and to collaborate with them as strategic partners.

Jimenez was joined by Metro Pacific Agro Ventures CEO Jovy Hernandez, Maya Bank President Gelo Madrid, and Cebu Air and GoTyme Independent Director Brian Cu in the panel, who shared how strong internal audit partnerships have also helped their organizations navigate market shifts, regulatory changes, and rapid tech evolution.

Madrid credited Maya’s resilience to its strong partnership with auditors. “Beyond improving operations, internal audit is a critical partner in leading organizations to the right path,” he said.

The panel, moderated by PLDT and Smart Head of Public Engagement and Corporate Communications Roby Alampay, also delved into the dual promise and peril of AI, the growing importance of cybersecurity, and why internal auditors must be deeply embedded in the business to provide real value.

“AI is the biggest disruptor in our generation. It will redefine how we work, as well as how our kids will work,” said Cu, adding that our interactions with AI today will likely shape its future. “But the question is: Who audits AI? How much oversight is needed? This is a once-in-a-generation challenge, and Internal Audit must shape how AI is understood, governed and integrated into our organizations.”

On cybersecurity, Jimenez shared that the PLDT Group is significantly strengthening its cybersecurity efforts by investing in advanced technologies and collaborating with leading global cybersecurity experts. “We recognize the critical importance of protecting our customers from increasingly sophisticated cyber threats. As threat actors evolve, so must we,” he said. “Beyond securing our own network, we’re also committed to sharing our knowledge and expertise with other organizations.”

Jimenez added that as an active member of the Presidential Private Sector Advisory Council, PLDT is working closely with the government to help develop a robust national cybersecurity framework. “That’s how serious we are about protecting not just our business, but the entire digital ecosystem,” he emphasized.

However, for Hernandez, the key to withstanding disruption lies in clarity of purpose. “Whether in telco, banking or agriculture, we all face disruption. The answer is clear purpose that transcends profit,” he said, emphasizing the importance of having a deep understanding of business. “Internal Audit must understand the core of the business to provide relevant, forward-looking guidance.”

Ultimately, Jimenez says, it all comes down to a strong brand. “Build your brand. If the market trusts and believes in you, it will be much harder for a disruptor to just wipe you out. Your brand becomes your shield,” he said.

PLDT Group’s support for International IA Awareness Month is aligned with the company’s long-standing commitment to deliver elevated customer experience, boosted by operational excellence.

To qualify, eligible users must cash into their Maya Wallet using their Philippine-issued Visa credit, debit or prepaid cards via the Maya app. Free Visa transfers are available for transactions up to P5,000. The typical P200 surcharge for cashing into Maya using cards will be rebated back to users. For larger transactions above P5,000, a discounted fee of 50% off or P100 per transaction will be imposed.

The ”Cash-In for Free” program will benefit consumers and small businesses in the Philippines in driving acceptance of mobile wallets. Visa’s recent Consumer Payment Attitudes study found that Filipino consumers are increasingly embracing cashless transactions, with 87% of surveyed respondents using their mobile wallets in the last 12 months. There is growing acceptance of cashless payment methods in the Philippines, with more consumers observing that supermarkets (88%), food and dining (86%), and bill payment operators (82%) have opened acceptance of cashless payment methods.

Jeff Navarro, Country Manager for Visa Philippines, said: “We are delighted to collaborate with Maya to provide free cashing-in services to all Visa cardholders, in response to the increasing number of Filipinos shifting towards cashless payments. This initiative supports small businesses by enhancing their payment acceptance experience, given today’s growing reach of digital payment methods such as cards and mobile wallets. At Visa, we aim to promote growth and access to a broad spectrum of digital payment modes to drive digital and financial inclusion. This ensures Visa continues to be the preferred choice for Filipinos, by offering an enjoyable, seamless, and secure payment experience.”

“We are thrilled to partner with Visa on this initiative,” said Shailesh Baidwan, Group President at Maya and Co-Founder at Maya Bank. “Maya’s mission focuses on providing innovative and accessible digital financial services to both consumers and businesses in the Philippines. The Cash-In for Free initiative is part of Maya’s broader strategy to make digital financial services more accessible and convenient for everyone, promoting cashless transactions and financial inclusion in the Philippines.”

Visa, a world leader in digital payments, presented Maya with an award for being the top prepaid card issuer in the country, marking its third consecutive accolade from 2021 to 2023.

This distinction is a testament to Maya’s sustained year-on-year growth and its highest prepaid payment volumes.

“We’ve made it incredibly simple for millions of Filipinos to get a card. This ease of access particularly resonates with the youth, who not only use it for everyday purchases but also as a reliable companion for global travel. It’s exciting to see the Maya Card become the fastest-growing card in the Philippines,” said Shailesh Baidwan, Group President of Maya and Co-Founder of Maya Bank.

The Ultimate in Convenience and Flexibility

Getting a Maya Card is very easy, reflecting Maya’s commitment to user convenience. Customers with an upgraded account can obtain a virtual and physical card through the app without the need for additional documents and link it seamlessly to their wallets. Users simply need to navigate to the “Cards” section within the Maya app to place their order.

The virtual card instantly opens a world of online shopping and the physical card doubles as an ATM card, enabling effortless payments for daily needs. Its broad compatibility across both online shops and brick-and-mortar stores demonstrates its unmatched versatility.

Designed with a minimalist and secure aesthetic, the Maya Card features the user’s unique @username instead of the full name and card number, adding a personal touch without compromising security.

Global Acceptance

Once activated and linked to the user’s wallet, the Maya Card is accepted worldwide, offering a seamless payment solution both in the Philippines and abroad. This global acceptance proves invaluable especially for freelancers and travelers, facilitating easy access to funds.

The Maya Card unlocks global shopping at over 80 million merchants and ATM access, with instant international activation – no call to customer support is needed. Wherever they are in the world. users are kept informed and in charge with real-time transaction alerts directly through the Maya app.

Rewarding Personalized Experience

The Maya Card’s unique strength also lies in its rewarding digital banking services. Using it for everyday payments allows customers to earn up to 14% interest rate per annum, credited daily to their savings accounts.

Moreover, frequent card usage also strengthens the user’s financial footprint, leading to better opportunities for instant borrowing and higher credit limits within the app.

Innovating further, Maya provides personalized card options offering co-branded editions, such as the FIFA Women’s World Cup and Mobile Legends, alongside the all-in-one student ID of Ateneo De Manila University.

Maya is the #1 Fintech Ecosystem in the Philippines, with Maya, the #1 Digital Bank, and Maya Business, the #1 Omni-Channel Payment Processor. More information about Maya is available at maya.ph and mayabank.ph. Keep posted on news and updates by following @mayaiseverything on Facebook, Instagram, YouTube, and TikTok.

“Owning a basic financial account or making instant payments has been addressed with easy access to wallets and digital acceptance solutions. Filipinos are now hungry and ready for more advanced banking services, previously unavailable through traditional modes. Maya is thus born to cohesively integrate payments, banking, and crypto in just one platform,” said Maya Bank President Angelo Madrid.   

Maya represented the Philippines at the recent 2^nd Annual Fintech & PayTech Connect APAC Summit 2022 held in Singapore, bringing founders, CEOs, investors, and industry stakeholders to discuss the future of fintech and payments in the region.   

According to the 2021 Bangko Sentral ng Pilipinas (BSP) Financial Inclusion Survey, 56% of Filipino adults now have a financial account. Still, only 4% of adults with loans have borrowed money from a bank, and 37% of adults have savings.   

From a challenger brand to being the fastest-growing digital bank, Maya’s story has drawn regional leaders’ attention for disrupting the way banking is done in the Philippines.   

Madrid said Maya has broadened its runway for future growth by taking a bolder route than competitors that adopted a banking marketplace model or incumbents that migrated previous customers to their digital bank platforms.   

Building seamless experience like no other  

Maya has enormous leverage over its payment ecosystem, allowing it to create a single access point and seamless experience. Customers only go through one KYC process to access their e-wallet, savings, and credit products in one app.   

“This all-in-one, branchless, full-digital banking has given Filipinos who are underserved by traditional modes a better way to grow their money and provided the unbanked a less intimidating form of banking,” Madrid said.   

The pioneering digital bank has allowed its customers to keep their high interest by using the Maya wallet for everyday transactions such as bills payment, telco load top-ups, and QR payments. It also made money management easy with Personal Goals and provided access to instant revolving credit of up to PHP15,000.   

The game-changing innovations propelled Maya to become the leading digital bank in the Philippines, with one million new customers and a PHP10 billion deposit balance just five months after its public launch in April 2022. 

Madrid shared with regional leaders during the summit that Maya has tapped its on-ground agent network, called Maya Centers, as cash-in and cash-out channels. Consumers without a smartphone or always-on mobile data can pay bills, buy digital goods, and send remittances through 65,000 Maya Center touchpoints in 92% of the country’s cities and municipalities.   

Empowering MSMEs to grow their business  

Enabling enterprises is critical to Maya’s growth, Madrid told regional leaders. To address their need, Maya embedded digital banking across its platform for businesses of all types and sizes. 

Maya’s approach is already creating more value for enterprises, Madrid added. Merchants can open an enterprise deposit account with free transfers and a 1.5% interest rate, 4x higher than the average bank. Disbursement via the Maya app also gives their clients wider access to more payment and banking options.

Maya also commits to increasing the share of MSME loans to total banking loans, which stood at 4.6% in 2021, according to the BSP. Its MSME agents now enjoy Maya credit products, which will soon be available to more enterprises. 

“As the country zeroes in on its financial inclusion goals by 2023, we have more game-changing innovations that will further accelerate digital financial services adoption,” Madrid said.

Spearheading the “digi-palengke” program is Davao City Government with the support of the Bangko Sentral ng Pilipinas (BSP) and the Department of Interior and Local Government (DILG). Also supporting the launch are PLDT and Smart Communications. 

“By promoting the interoperable QR PH national standard codes, Paleng-QR PH creates a simple but more powerful digital finance experience at the local community level. At Maya, we fully support Davao City’s vision to build a stronger digital ecosystem,” said Orlando Vea, Maya CEO and Founder and Maya Bank Co-Founder.  

“Basta QR PH, pwede kami sa Maya,” Vea added. 

The Paleng-QR Ph program aims to digitalize transactions starting with public markets and local transportation. The program enables vendors and tricycle drivers to accept digital payments from customers regardless of their e-wallet or bank accounts via QR Ph, the national standard for QR payment. Maya’s QR codes are QR Ph-compliant, and its app can scan any QR Ph-powered transaction.  

Creating digi-palengkes is part of Maya’s own LGUs Embracing and Accelerating Digitalization (L.E.A.D). Through this program, Maya equips local governments like Davao City with business-in-a-box payment acceptance solutions and disbursement tools to enable faster public service delivery. 
  

Maya is the first digital financial services platform to adopt QR Ph. More than 52 million users can enjoy a seamless experience using Maya’s consumer platforms that can send and accept P2P payments from other QR Ph-participating financial institutions.  

Meanwhile, non-Maya users can pay at over 800,000 QR Ph-enabled Maya merchants, which are present in 96% of the total cities and municipalities.  

The BSP’s OR Ph initiative is part of the overall financial services transformation roadmap of the Philippines. It aims to raise Filipinos’ trust in digital financial services, as consumers and enterprises will get used to sending and receiving cashless payments for everyday transactions.  

Maya’s full support to QR PH is in line with the BSP’s thrust to increase the share of Filipino adults with a financial account from 56% in 2021 to 70% in 2023 and grow the volume of digital payments from 20% in 2021 to 50% by next year.  

“Digital payment is the entry point of Filipinos to the financial system. As they build their financial footprint, consumers and MSMEs can access more progressive digital banking services offered by Maya,” said Vea.  

Maya has made it easier for consumers to spend, save, get credit, and invest in crypto just by using its top-rated all-in-one money app. Its merchant partners, meanwhile, can open a business deposit account and access revolving credit lines leveraging their payment transactions.  

To know more about Maya, visit maya.ph or follow @mayaiseverything on Facebook, IG, TikTok, and YouTube and @mayaofficialph on Twitter. Join the Maya Telegram community at https://t.me/TeamMayaPH

This rapid growth continues to underscore the booming preference of Filipinos for an all-in-one digital banking and payments experience. Publicly launched in end-April this year, Maya Bank powers the digital banking services of Maya, the only finance app that cohesively integrates the power of an e-wallet, savings, credit, and crypto in one platform. 

“Financial services need not be complex. This astounding response to our efforts reflects the big opportunity for digital banking in the Philippines,” said Orlando B. Vea, Maya Group CEO and Founder and Co-Founder of Maya Bank. 

 “Filipinos are ready for more progressive digital experiences; that’s why we’ve established ourselves as the country’s leading digital bank app in record time. We’re continuing to strengthen our financial services ecosystem as we bring more innovative services to consumers and enterprises,” said Shailesh Baidwan, Maya Group President and Maya Bank Co-Founder. 

Propelling Maya’s growth is its game-changing customer experience, powered by innovative services, personalized features, and a highly reliable and secure platform. 

“We’re very grateful for the warm response from the market. We’re ushering in a new era of banking, and we’re excited to roll out more innovative and customer-centric digital banking features in Maya that can enrich everyday lives,” said Angelo Madrid, Maya Bank President. 

Changing the game for financial services

Maya’s frictionless experience has changed the game for banking and payments. Through the all-in-one Maya app, customers can efficiently manage their finances and build their funds through their savings accounts. They can also quickly move their money to their e-wallet whenever they need to make a transaction and buy or sell crypto. 

Propelling Maya’s growth are innovative executions of digital banking features. Most recently, Maya introduced a daily interest crediting for Maya Save, allowing bank customers to see their earnings reflected daily in their transaction history instead of monthly. 

It also pioneered mission-led rewards to encourage bank customers to use digital for everyday transactions. Starting October 15, customers can extend their 6% per annum savings interest rate for another 30 days each time they use their Maya app to pay for their bills or for purchases using their Maya QR, card, or mobile number. 

Maya Savings offers a customized money management experience through its Personal Goals feature, in which users can save in up to five different ‘wallets’ catering to specific goals. Each goal comes with set target amounts and timelines for organized tracking, on top of a high-yield 6% per annum interest rate available until December 31, 2022. Daily crediting of the interest earnings will also soon be available for this feature. 

Maya also made bank account opening easier. Upgraded Maya wallet users can easily open a savings account without maintaining a minimum balance. There is no need to sign up for another bank or wallet, submit another set of requirements, or be subjected to the rules of a different provider. Customers can also enjoy free interbank PESOnet transfers until December 31, 2022.

With its rich pool of ready transactional data, Maya is the only digital bank to offer credit products to consumers and small businesses within the first quarter of its launch. Eligible customers can enjoy Maya Credit, an instant revolving line of credit of up to PHP15,000.

Rounding up the top-of-the-line features is Maya’s record of reliability and safety. The Maya app enjoys a 99.94% app uptime rate. Its digital banking services are powered by Bangko Sentral ng Pilipinas (BSP)-licensed Maya Bank, and deposits are insured by the Philippine Deposit Insurance Corporation (PDIC) for up to PHP 500,000.00 per depositor. 

Digital banking is seen to boost financial inclusion and digital adoption in the country. While there are now more Filipinos with a financial account, thanks to the popularity of e-wallets, there is a pent-up need to adopt financial services such as savings and credit. 

According to the BSP 2021 Financial Inclusion Survey, the percentage of adults with savings fell to 37% from 53% in 2019, despite growth in financial account ownership. Meanwhile, most Filipinos still borrow from informal sectors such as friends, family, and loan sharks. 

Maya Bank powers the digital banking experience of consumers and enterprises across the Maya family of products, including the Maya all-in-one app, Maya Business, and Maya Center. For more information, visit mayabank.ph.