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- Ryt Bank launches in Kuala Lumpur as Malaysia’s first AI-powered digital bank, backed by YTL Group and Sea Limited.
- The digital bank introduces a multilingual mobile app and AI assistant, Ryt AI, built on local language model ILMU.
- Services include daily interest savings, Ryt PayLater instant credit, Visa cards, and secure payment integrations.
- Malaysia’s regulatory framework and consumer readiness positioned Ryt Bank to lead the nation’s digital banking revolution.
Malaysia has officially welcomed its first AI-powered digital bank with the launch of Ryt Bank, a joint initiative between YTL Group and Sea Limited.
Unveiled in Kuala Lumpur, the digital bank aims to reshape financial services by blending cutting-edge artificial intelligence with user-friendly digital banking experiences.
The debut of Ryt Bank marks a milestone in Malaysia’s financial evolution, aligning with the country’s growing digital transformation strategy and consumer readiness for AI-driven banking.
Multilingual Banking for Broader Access
One of Ryt Bank’s standout features is its multilingual mobile app, currently available in Bahasa Malaysia and English, with Mandarin integration coming soon. This approach seeks to make financial services more inclusive and accessible across Malaysia’s diverse population.
Ryt Bank Debuts as Malaysia’s First Fully AI-Powered Digital Bank
Read here: https://t.co/RUryfKJFHy#fintech #digitalbanking #AI @rytbankmy
— FintechNews Malaysia (@FintechNewsMy) August 25, 2025
Central to the platform is Ryt AI, an intelligent assistant built on a locally developed language model named ILMU. The assistant allows customers to interact in natural language, enabling smoother tasks such as bill payments, balance inquiries, transaction tracking, and financial advice.
By supporting multiple languages, Ryt Bank positions itself not only as a digital institution but also as a culturally aware financial partner.
Core Services and Security Features
Ryt Bank offers a full suite of banking services designed for modern digital lifestyles. Customers can open savings accounts with daily interest, access instant credit through Ryt PayLater, and make payments via DuitNow and JomPAY.
In addition, the bank issues both Visa-powered debit and credit cards, ensuring seamless local and international transactions.
Security has been placed at the forefront of Ryt Bank’s design. The platform employs biometric authentication, real-time fraud detection, and advanced encryption protocols. Furthermore, deposits are fully protected under Perbadanan Insurans Deposit Malaysia (PIDM), reinforcing customer trust in the safety of digital-first banking.
Malaysia’s Growing Digital Banking Ecosystem
The launch of Ryt Bank is not an isolated event but part of Malaysia’s larger push toward financial inclusion and digital transformation. Bank Negara Malaysia, the country’s central bank, previously issued digital banking licenses to promote innovation and extend financial access to underserved communities.
Consumer sentiment has also laid the foundation for success. A 2018 Unisys survey revealed that 52% of Malaysians were comfortable with banks using algorithms to evaluate credit card applications, while 39% supported AI for home loan assessments. Additionally, nearly half of respondents highlighted long queues as their primary frustration with traditional banking, a gap that Ryt Bank’s conversational AI is well-positioned to address.
By combining YTL Group’s business expertise with Sea Limited’s technological capabilities, Ryt Bank demonstrates how traditional conglomerates and tech companies can collaborate to build the future of finance.
A Step Toward Smarter, More Inclusive Banking
Through AI-driven personalization, cultural adaptability, and secure technology, the bank sets the stage for a future where financial services are instant, intuitive, and widely accessible.
As Malaysia strengthens its position in Southeast Asia’s digital economy, Ryt Bank is likely to serve as both a pioneer and a model for similar ventures across the region.
