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UNObank issued a digital bank license in the Philippines

Press release -

UNObank issued a digital bank license in the Philippines

08 June 2021 - Singapore, Manila – Singapore headquartered fintech DigibankASIA Pte. Ltd., one of the primary incorporators of UNObank(1), has received approval from the Bangko Sentral ng Pilipinas (BSP) to operate a digital bank in the Philippines. The first fintech to receive a license outright(2) to operate a digital bank, UNObank will be entirely regulated under the Digital Banking License framework in the Philippines.

DigibankASIA Pte. Ltd. is co-founded by three executives who collectively have extensive experience across banking, capital markets, treasury, lending, digitalisation, and technology. UNObank will be helmed by Manish Bhai as CEO, a career banker and tech entrepreneur. Co-founder Kalidas Ghose is a recognised fintech influencer who led the effort to build FE Credit in Vietnam from scratch and created VP Banks digital bank ecosystem. Puneet Gupta, Co-founder & CTO is an acclaimed deep tech innovator known for building cutting edge digital products and platforms.

With UNObank, the founders aim to help bridge the financial inclusion gap(3) in the Philippines and eventually Southeast and South Asia. UNO means ‘one’ and sets the premise for a digital bank that offers one app and one card to enable anyone anywhere in the Philippines to save, borrow, transact, invest, and protect their finances easily, with speed and ease.

UNObank is being built on a robust technology stack that includes products and services from highly regarded tech industry leaders including Mambu, Backbase, and AWS.

“The BSP’s vision and foresight to digitize the local banking industry is future-forward and apt, because ultimately it will help align the Philippines as a modern banking center for the region,” says Manish Bhai, of UNOBank. “We are very grateful to the BSP and honoured by the trust placed in our team.”



  1. UNObank is currently being built under a fintech holding company, DigibankASIA Pte. Ltd., in Singapore. The co-founders are tapping Singapore’s vibrant fintech community for the latest in innovation and technological development in their quest to create UNObank as a robust, highly secure digital banking platform that has the flexibility to create unique customised solutions for the people that the bank serves. UNO is working with world leading modern technology firms including Mambu, Backbase and AWS in building their technology stack.
  2. The BSP has granted three digital bank licenses, two of which are conversions from previous bank licenses. UNObank is the first to receive the new license entirely under the Digital Banking License framework.
  3. The Philippines has lagged in terms of financial inclusion. Access through digital banks can vastly increase the number of people in the Philippines that have access to borrowings, savings, payments, and other financial services. The Philippines has among the lowest banking penetration in Southeast Asia, as the number of unbanked Filipino adults is estimated at 51.2 million, out of a total adult population of 72 million in 2019, according to the BSP's 2019 Financial Inclusion Survey released in 2020.


1. “Long term, our goal is to bridge the gap to financial inclusion,” says co-founder Manish Bhai. “With UNObank, we are building the first full-spectrum digital bank to service those with unmet financial needs in Southeast and South Asia.”

2. “Singapore’s underlying ethos is that fintech should drive innovation, inclusion, and inspiration; to possess purpose to improve lives; and to build a dynamic economy and inclusive society. These are the tenets that UNObank embraces and strives to represent. That is why we chose Singapore as our group headquarters,” reiterates Bhai.

3. Puneet Gupta, the co-founder & CTO of UNObank comments: “As a fintech company, we are based in Singapore to tap the vibrant fintech community here for the latest in innovation and technological development. We are in the midst of building a robust, highly secure digital banking platform for UNObank. We are ensuring that the technology we use has the flexibility to create unique customised solutions that will enhance the user experience and add immense value to those Filipinos communities that are currently unserved and underserved.”

4. Bhai says, “UNO means ‘One’ and defines the philosophy behind UNObank - starting from the customer which means we stand at ONE with you, provide ONE interface to meet all your financial needs, ONE card for all your transactions, ONE minute to get your loan approved (provided criterion is met), and ONE experience unique to another!”


1. Manish Bhai is available for interviews.

2. Logos & Images of Manish


Singapore: Illka Gobius

Managing Director, Pinpoint PR

+65 97698370

The Philippines: Dean Bernales

Senior Associate, Pinpoint PR

+63 920 972 8635



Pinpoint PR (PPR) is an award-winning communications and public relations (PR) consultancy based in Singapore. We specialise in science and emerging technology PR. We (and our clients) have won awards for events publicity as well as financial PR. Visit

Press contacts

Illka Gobius

Illka Gobius

Press contact Managing Director Public Relations +65 9769 8370
Theodore Woon

Theodore Woon

Press contact Manager Public Relations +65 9155 3507

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Pinpoint PR (PPR) is an award-winning boutique public relations (PR) consultancy in Singapore. We specialise in science and emerging technology PR. We (and our clients) have won awards for events publicity as well as financial PR. Visit

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