AI is steadily changing the way banks work. The technology can sift through large amounts of data, calculate risks, and process routine tasks at a rate where people can’t match. Currently, Malaysia enters its space with the launch of RYT Bank and is being billed as the country’s first driven bank.
The new venture, led by YTL Group in collaboration with SEA Limited, arrives just in front of Merdeka. “We are committed to providing a range of services to our customers,” said Dato ‘Seri Yeoh Seok Hong, Managing Director, YTL Power International. “By combining homemade AI with people’s value and diversity, we have created a bank that allows Malaysians to proudly call themselves. We will speak language, understand our culture and set new standards for how banking should feel.”
Malaysian banking
RYT Bank is designed to work in the language most Malaysians use every day. The app is already available in Bahasa Malaysia and English, and Mandarin Support is expected to arrive by next month (September 2025). By providing multilingual access, banks aim to make financial services more comprehensive and easier to use for people from many different communities.
The AI-powered bank is RYT AI, the digital assistant powered by ILMU, Malaysia’s first large-scale language model developed locally. RYT AI can understand natural conversations in Malaysian Bahasa, English, or a mixture of both, and act instantly on request.
AI assistants can read invoices, pay, track expenses, and explain the fundamentals of finance in plain terms. The idea is to combine convenience with cultural familiarity while maintaining enterprise-grade security.
AI Banking Everyday with One App
RYT Bank is designed to bring together multiple financial needs into one platform. Customers can use the AI banking app to store, spend, borrow and pay invoices. RYTAI can make the process more conversational and personal.
Personal banking with RYT AI
- With support from Duitnow and Jompay, send invoices or pay invoices via text chat.
- Snap and upload invoices or receipts for immediate payment.
- Get access to our banking guide and a brief financial explanation.
- All actions are encrypted and verified for security.
- New users can try out RYT AI and claim small launch rewards up to RM5.
Increase your money
- Customers earn up to 4% interest each year. You get credits every day.
- Withdraw funds at any time without lock-in requirements.
Ryt Paylater
- Access instant credits up to RM1,499.
- If you pay it in one month, you will receive 0% interest.
- There are no postponement fees or documents.
- Earn cashback with Duitnow QR payments and earn additional rewards with selected partners.
RYT Card
- Switch between the app’s debit card model and credit card model.
- It is accepted worldwide through visas.
- There are no foreign transactions or ATM fees in Malaysia.
- In addition to cashback on spending, partners offer shop vouchers and dining discounts at YTL hotels.
(Please refer: Can Malaysia become the AI and cloud hub of Southeast Asia? )
Banks based on Bank Negara Rules
AI Banks are approved by Bank Negara Malaysia and are subject to PIDM. This protects deposits up to RM250,000 per customer. Security features include biometric logins, layered encryption, and real-time fraud alerts.
Malaysian banking sector advances
The launch of RYT Bank shows how AI is being used to rethink traditional banking practices. By supporting local languages and developing your own AI assistants, we aim to make financial services more accessible and meet regulatory and security standards.
See: Huawei commits to training 30,000 Malaysian AI professionals as the local technology ecosystem expands
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