With the rise of digital banks, managing your finances has never been more convenient. With these innovative financial institutions offering convenient and flexible services at the touch of a button, you no longer have to visit a physical bank and wait in line to access basic but important banking services like checking your bank account balance and transferring money.
If you’re relying on a bank that can’t address your needs, however, you might not be able to take full advantage of digital banking services. Not all banks are created equal, after all, so if you’re currently with a bank that doesn’t have the right tools for your needs, this might hinder your ability to control your spending or monitor your money. Therefore, it’s essential to carefully choose a digital bank that aligns with your financial goals and lifestyle. In this article, we’ll walk you through some of the key factors to consider when selecting a digital bank to ensure that the one you pick best supports your financial journey.
User-Friendly App Interface
One of the first things you need to consider when choosing a digital bank is the user experience provided by its mobile app. A well-designed, intuitive app can make managing your finances much easier, and a streamlined layout and user-friendly features will allow you to handle everyday tasks quickly and without frustration. The Maya app, for instance, is designed around anticipating its users’ needs. After logging in, you’ll be greeted by a visually pleasing interface that thoughtfully displays the app’s offerings. This clean and easy-to-navigate layout enables you to access useful and important features—such as “Cash In,” “Send,” “Load,” “Bills” and “Bank Transfer” under the “Wallet” tab, as well as “Deposit” and “Transfer” under the “Savings” tab—without hassle. With an interface that keeps common tasks just a tap away, you can ensure that managing your money is seamless with Maya.
Robust Security
The right digital bank will use cutting-edge encryption technology and robust security protocols to protect your sensitive financial information. A modern neobank should offer two-factor authentication (2FA), biometric security like facial recognition, and strong encryption to safeguard your data.
We at Maya, however, have taken our security measures one step further. Aside from the aforementioned protections, we’ve also partnered with SHIELD to provide you with greater peace of mind when banking with us. SHIELD is a tech company that’s focused on fraud protection and device intelligence. SHIELD leverages cutting-edge AI and machine learning to analyze thousands of device, network, and behavioral data points in real-time, enabling the detection and prevention of fraudulent activities such as account takeovers, malware attacks, and the creation of fake accounts, all while ensuring a seamless and secure user experience.
In addition to this, Maya is a digital bank that’s supervised by the Bangko Sentral ng Pilipinas (BSP). This means that our bank adheres to stringent regulatory standards designed to protect our customers.
We also have Maya Personal Loan, which is a loan product that grants you your loan instantly upon approval and allows you to repay it within 24 months. The minimum amount you can borrow is PHP 15,000 while the maximum is PHP 250,000, making Maya Personal Loan an excellent option if you need flexible funding for urgent expenses. On the other hand, Maya Easy Credit lets you borrow up to PHP 30,000, which you can pay up to 30 days. This 30-day credit line also boasts a hassle-free application process, allowing you to access funds quickly and easily without the need for extensive documentation.
Unique App Features
As digital banking continues to evolve, you can expect the best digital banks to introduce innovative features that set them apart from their competitors. These unique app features can enhance not only your banking experience but also your overall financial well-being. Apart from providing convenient banking services, the Maya app also lets you buy prepaid load, pay your bills, and even invest in stocks and crypto. With such diverse capabilities, Maya ensures that you have everything you need to stay on top of your finances in one, easy-to-use platform.
Choosing the right digital bank is crucial in effectively managing your finances and achieving your financial goals. Take all the time you need to evaluate your options so that you can select a digital bank that best supports your financial journey.
