Malaysia Debuts Ryt Bank, Its First AI-Driven Financial Institution

AI is fundamentally reshaping the banking industry. This technology excels at analyzing vast datasets, assessing risk, and automating routine operations at unprecedented speeds. Malaysia has now joined this evolution with the launch of Ryt Bank, the nation's first bank built with AI at its core.

This new initiative, a collaboration between YTL Group and Sea Limited, launches just before Merdeka. “Ryt Bank proves that transformative innovation can be conceived, developed, and led from within Malaysia,” stated Dato’ Seri Yeoh Seok Hong, Managing Director of YTL Power International. “We've merged domestically developed AI with the unique values and diversity of our people to build a bank Malaysians can truly embrace—one that communicates in our languages, resonates with our culture, and redefines the banking experience.”

Banking Built for Malaysians

Ryt Bank is engineered to operate in the languages Malaysians use daily. Its application is currently available in Bahasa Malaysia and English, with Mandarin support set to launch next month (September 2025). This multilingual approach is designed to make financial services more inclusive and user-friendly across diverse communities.

The cornerstone of this AI-driven bank is Ryt AI, a digital assistant powered by ILMU—Malaysia's first homegrown large language model. Ryt AI comprehends natural conversation in Bahasa Malaysia, English, or a blend of both, and can execute requests in real time.

This assistant can manage bill payments, track expenses, and explain financial concepts in simple language. The goal is to combine everyday convenience with cultural relevance, all within a framework of enterprise-level security.

Comprehensive AI Banking in a Single App

Ryt Bank consolidates various financial needs onto one platform. Customers can use the app for saving, spending, borrowing, and managing bills, with Ryt AI providing a conversational and personalized interface.

Personal Banking with Ryt AI

• Transfer money or pay bills via text chat, with support for DuitNow and JomPAY.
• Photograph and upload bills or receipts for immediate payment.
• Access helpful guides and clear financial explanations while using the app.
• All transactions are secured with encryption and verification.
• New users can receive a welcome reward of up to RM5 when they first use Ryt AI.

Growing Your Money

• Earn up to 4% p.a. interest, calculated and credited daily.
• Withdraw your funds at any time without lock-in periods.

Ryt PayLater

• Get instant credit access of up to RM1,499.
• 0% interest applies when the balance is settled within one month.
• No late fees or complicated paperwork required.
• Earn cashback on DuitNow QR payments and exclusive rewards with partner merchants.

Ryt Card

• Seamlessly switch between debit and credit modes within the app.
• A Visa card accepted globally.
• No foreign transaction fees or local ATM charges.
• Get cashback on purchases, plus partner benefits like Shopee vouchers and dining discounts at YTL Hotels.

[See also: Can Malaysia become Southeast Asia’s AI and cloud hub?]

Operating Under Bank Negara Regulations

The bank is fully licensed by Bank Negara Malaysia and deposits are protected by PIDM for up to RM250,000 per depositor. Security measures include biometric logins, multi-layered encryption, and real-time fraud monitoring.

Advancing Malaysia's Financial Sector

The introduction of Ryt Bank illustrates the practical application of AI to reimagine conventional banking. By championing local languages and developing its own AI assistant, it seeks to enhance financial accessibility while rigorously meeting regulatory and security benchmarks.

See also: Huawei commits to training 30,000 Malaysian AI professionals as local tech ecosystem expands

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