Maya is using artificial intelligence (AI) to strengthen banking security, improve customer support, and provide personalized financial services in the Philippines.
At the recent AWS AI Day, Alfred Lo, CTO of Maya Group, discussed the company’s AI advancements, including a fraud detection system that can reduce losses by up to 98%, a chatbot that addresses most customer concerns, and a recommendation tool that enhances user engagement.
“AI is reshaping banking to ensure every Filipino benefits from the digital economy,” Lo said. “At Maya, we’re competing with AI itself — to stay ahead of fraudsters, shifting customer behaviors, and a digital economy that never stops moving.”
While traditional fraud detection methods rely on rule-based systems, Maya has developed an AI approach called Transaction Sequence Embeddings. This technology analyzes transaction patterns, identifying suspicious activities based on user behavior.
“Our model can reduce fraud losses by up to 98%, significantly enhancing the effectiveness of anti-fraud systems,” Lo said.
The same AI approach can also assess credit risk, helping predict repayment behavior based on spending patterns. However, security is only one aspect of Maya’s AI-driven innovations.
Personalized banking through AI
Most banks classify customers into broad categories, such as age or income, missing deeper insights into behavior. Maya has introduced an AI-driven feature called Action Cards, which suggests relevant financial products to users at the right time. This personalized approach has led to a 45% increase in average revenue per user, allowing more customers to use savings, loans, and credit services.
The next step for Maya is an AI-powered rewards system that predicts the most valuable incentives for users while managing costs effectively. By learning from past promotions, AI can offer rewards such as free insurance or higher interest rates, maximizing customer benefits while keeping expenses in check.
“Now, we enter the era of multi-objective optimization. AI orchestrates and balances cost, conversion, and customer delight. At Maya, we’re at the forefront of this evolution. We turn data into decisions, and decisions into delight,” Lo said.
AI chatbots as financial assistants
Customer support is another area where AI is making an impact. While many banking chatbots only handle basic inquiries, Maya’s AI chatbot resolves up to 95% of customer issues instantly, reducing the need for human intervention.
Lo believes AI will soon move beyond simple customer service, offering personalized financial assistance. By using transaction history and behavioral insights, Maya’s AI system aims to provide users with the level of service typically reserved for high-net-worth individuals.
“Today, only top customers get dedicated bankers. In the future, everyone will,” he said. “We’re not just building chatbots — we’re building relationships.”