Malaysia has entered a new era of banking with the launch of Ryt Bank, the nation’s first AI-powered bank. Developed by YTL Group in partnership with Sea Limited, the venture combines cutting-edge technology with local culture and languages to deliver a personalized, accessible digital banking experience.
The launch, timed just ahead of Merdeka celebrations, was described by Dato’ Seri Yeoh Seok Hong, Managing Director of YTL Power International, as a milestone for homegrown innovation.
“Ryt Bank demonstrates that groundbreaking innovation can be imagined, built, and led right here in Malaysia,” he said. “By combining homegrown AI with the values and diversity of our people, we’ve created a bank Malaysians can proudly call their own.”
Everyday Banking with AI
At the heart of the new platform is Ryt AI, a digital assistant powered by ILMU, Malaysia’s first locally developed large language model. Ryt AI understands Bahasa Malaysia, English, and soon Mandarin, allowing customers to chat naturally with the app to complete financial tasks.
Users can:
- Pay bills and send money via DuitNow and JomPAY.
- Snap receipts for instant bill payment.
- Track spending and get simple financial explanations.
- Access guides to learn financial basics in plain terms.
New customers also receive a launch reward of up to RM5 for trying Ryt AI.
Products and Services
Ryt Bank consolidates everyday financial needs into a single app:
- Savings: Earn up to 4% annual interest, credited daily, with flexible withdrawals.
- Ryt PayLater: Access instant credit up to RM1,499 with 0% interest if repaid within a month.
- Ryt Card: A flexible debit-and-credit card, powered by Visa, offering cashback, Shopee vouchers, and YTL Hotels dining discounts.
Multilingual and Inclusive
By launching in Bahasa Malaysia and English—with Mandarin support arriving by September 2025—Ryt Bank aims to reach a diverse population. Its design focuses on inclusivity, ensuring financial services are accessible to Malaysia’s multi-ethnic, multilingual communities.
Security and Regulation
Ryt Bank is fully licensed by Bank Negara Malaysia and protected under PIDM, which insures deposits up to RM250,000 per customer. Security features include biometric logins, layered encryption, and real-time fraud alerts.
A Step Forward for Malaysia’s Banking Future
Ryt Bank’s debut reflects how AI is reshaping finance globally, but with a distinctly Malaysian identity. By blending cultural familiarity, multilingual accessibility, and cutting-edge AI, the bank signals a shift toward consumer-first digital banking.
As AI adoption accelerates across Southeast Asia, Malaysia’s first AI-powered bank could become a model for how technology transforms financial services while staying rooted in local needs.
