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Maya Bank notes citation from National Privacy Commission on ecosystem

NEWLY-established Maya Bank Inc. was cited by the National Privacy Commission (NPC) for building a more secure ecosystem for consumers and enterprises.

“We are very honored to be recognized by the NPC for our efforts. As the country’s all-in-one money platform, Maya commits to continuously work with the government and the rest of the fintech industry to uphold data privacy and security,” Shailesh Baidwan, Co-Founder and Board Member of Maya Bank said in recent webinar.

Baidwan said Maya won the coveted “Privacy Initiative of the Year” for its “#FraudPatrol” campaign as a “unique approach to building a culture of privacy that combines consumer protection advocacy, gamified experience and awareness testing for its employees.”

Maya Bank’s John Christopher Retardo was also a finalist for the “Data Protection Officer of the Year” award. Baidwan said the award is “a testament to Maya’s recognition of the critical role of its employees in protecting the data privacy of its customers.” He added the digital payments operator utilized “engaging” activities, including social media challenges, gamified missions, awareness testing, webinars and interactive content.

Maya reported zero victims of phishing and malware (malicious software) attack incidents in the workplace for 2021. The number of employees proactively reporting suspicious phishing also increased tremendously.

“Maya’s ‘FraudPatrol’ campaign is just one of the company’s initiatives to uphold data privacy and security. Maya has heavily invested in privacy and security initiatives across people, infrastructure, products, processes and design through the years,”Baidwan said.

For example, the recently launched all-new Maya app incorporates features starting at the account opening and registration stages. The Maya app offers a stronger know-your-customer (KYC) experience, employing artificial intelligence and machine learning for face matching, ID image classification, fake ID detection, ID OCR and biometrics.

To help customers against nefarious elements, Baidwan said Maya has continuously been conducting information and education drives, releasing privacy and security-focused advisories on its official social media accounts.

Maya also partnered with the Anti-Money Laundering Council (AMLC) on information sharing and capacity building to help combat financial crimes which impact privacy. It recently forged a pact with the Philippine National Police Anti-Cybercrime Group to help prevent and fight financial crimes in the country.

Through its Data Privacy Office, Baidan said Maya is also playing an active role in strengthening data privacy practices in the country by actively participating in NPC’s stakeholder consultations, providing valuable inputs on upcoming circulars and supporting various NPC initiatives.

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