PARTNERSHIP ANNOUNCEMENT: Tala and Maya Empower Filipinos with $48.5 Million in Loans
Digital financial services app Tala has teamed up with leading digital bank Maya to secure $48.5 million in loans for Filipino customers, particularly targeting the Global Majority.
Tala’s President and Head of Finance, Cha Alvarez, emphasized their shared mission: “[Our] mission is to unleash the economic power of the Global Majority, which we will continue to do as we gear up for expansion in the Southeast Asian region. Meanwhile, Maya’s goal is to expand their customer base and product offerings. Our aligned mission to provide more access to more people makes this partnership even more significant.”
This partnership will focus on ‘loan channeling’, enabling Maya to address the credit accessibility gap among Filipinos. Angelo Madrid, President of Maya Bank, sees this collaboration as a crucial stride towards bridging financial access: “Our joint effort is a significant step towards closing the financial access gap, ensuring we meet the everyday financial needs of our customers in this digital age.”
Tala’s data reveals that over half of the global population hover above the poverty line, lacking bank accounts, credit history, or significant influence on traditional financial systems—relying predominantly on cash. These individuals are striving for financial improvement, holding strong potential to become upwardly mobile.
Both parties, who are proud members of FinTech Alliance Philippines, envision this partnership as a model of regional financial inclusion. Alvarez affirms, “Together, we can and we will transform how money works for Filipinos and ultimately – set an example for what financial inclusion should be in Southeast Asia.”