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Manila Bulletin devider Business devider Banking & Finance devider Maya eyes enhanced cross-border banking with overseas account activation

Maya eyes enhanced cross-border banking with overseas account activation

Published Nov 7, 2025 11:05 am

At A Glance

  • HONG KONG — While still not taking steps to expand its market overseas, Manila-based Maya Bank is finding ways to enable account opening abroad to make banking more efficient across borders.
HONG KONG — While still not taking steps to expand its market overseas, Manila-based Maya Bank is finding ways to enable account opening abroad to make banking more efficient across borders.
Maya Corporate Affairs Head Toff Rada told Manila Bulletin during Hong Kong FinTech Week 2025 that the financial technology (fintech) firm is exploring ways to enable account activation in other countries, a concern raised by overseas Filipinos (OFs) working in Hong Kong.
“It’s something we’re trying to explore because yesterday, in our conversation with overseas Filipino workers (OFWs), they said that there should be a system by which, at some point in the future, you can activate from here,” Rada said last Nov. 4.
However, Rada noted that this is still being studied by the fintech company’s product teams.
Rada also pointed out that the firm’s limitation when it comes to carrying out the cross-border service involves telecommunications (telcos).
“That is a telco issue. That’s the limit. Obviously, we want to do it here, but our limitation is it has to be activated by the telco partners,” Rada said. This blurs the sight of any timeline.
During the week-long fintech festival, Maya kicked off collaborations with the Consulate General of the Philippines in Hong Kong and the Overseas Workers Welfare Administration (OWWA) to conduct financial literacy sessions for OFWs.
“We really want to promote the idea of financial health, where everyone is trying to increase their financial literacy, and all geared towards improving overall financial wellness for every Filipino,” Rada said.
By educating consumers, Maya also strengthens its system against financial crimes.
Rada said the bank’s fraud management system (FMS) will be compliant by the time the Bangko Sentral ng Pilipinas’ (BSP) deadline lapses in 2026. The central bank requires a sophisticated FMS under the Anti-Financial Account Scamming Act (AFASA).
“We are always in internal discussions with the teams to make sure that we review the pertinent provisions of the AFASA. We should be compliant by the time the deadline is implemented,” he said.
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