Malaysia — Malaysia has introduced Ryt Bank, the world’s first AI-powered bank, developed by YTL Group in partnership with Sea Limited. The initiative represents a step in the country’s digital banking landscape by combining artificial intelligence with multilingual and locally relevant services.
The bank’s application is currently available in Bahasa Malaysia and English, with Mandarin scheduled for release in September 2025. This approach is intended to make digital banking more accessible across Malaysia’s diverse communities.
Ryt Bank incorporates Ryt AI, a digital assistant powered by ILMU, Malaysia’s homegrown large language model. The assistant is designed to interact in natural language, including Bahasa Malaysia, English, and Manglish, to support users with tasks such as bill payments, expense tracking, and financial education.
“By combining homegrown AI with the values and diversity of our people, we’ve created a bank that Malaysians can proudly call their own—one that speaks our languages, understands our culture, and sets a new standard for how banking should feel,” said Dato’ Seri Yeoh Seok Hong, managing director at YTL Power International.
The platform integrates multiple financial services in one app. Users can transfer funds, pay bills, and manage routine transactions, with security features that include encryption and verification for every action. A small introductory reward is offered to first-time users.
The savings feature provides daily interest of up to 4% per annum without lock-in requirements, allowing users to manage both short- and longer-term financial needs.
Ryt PayLater extends instant credit of up to RM1,499 with no interest charged if repayment is made within the first month. It requires no supporting documents, carries no late fees, and offers limited cashback opportunities, subject to eligibility checks.
The Ryt Card combines debit and credit functions in a single Visa-powered card, allowing users to switch between modes in-app. The card provides overseas cashback, waives foreign transaction and local ATM withdrawal fees, and includes limited-time launch offers and partner rewards.
The Ryt Bank app is now available for download on the App Store and Google Play.
