Ryt Bank launches as Malaysia's first AI-powered digital bank

Malaysia's digital banking scene has reached a new chapter with the introduction of Ryt Bank, a fully licensed bank fueled by Ryt AI, an intelligent assistant developed upon ILMU, the country's first indigenous large language model.

"Ryt Bank proves that revolutionary innovation can be conceived, developed, and driven right here in Malaysia. Through the union of indigenous AI with our country's values and diversity of people, we've produced a bank Malaysians can be proud to call their own ,  one that communicates our languages, understands our culture, and raises the bar for what banking must feel like." commented Dato' Seri Yeoh Seok Hong, Managing Director of YTL Power International.

Key highlights:

• Ryt Bank debuts as Malaysia’s first fully licensed AI-powered digital bank
• Multilingual app with Ryt AI enables natural banking in Bahasa, English, and Manglish
• Offers 4 percent daily interest, instant PayLater credit, and global Visa card perks

Inclusive and multilingual, Ryt Bank currently offers Bahasa Malaysia and English, with Mandarin to follow by September 2025. Its assistant, powered by AI, is able to comprehend natural language in Bahasa, English, and Manglish, among others, allowing users to pay bills, transfer funds using DuitNow, monitor expenditure, and learn basic finance in plain language.

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Subscribers can also enjoy as much as 4 percent p.a. daily interest on savings, instant PayLater credit worth up to RM1,499, and the Ryt Car that enjoys international Visa acceptance, no transaction fees, unlimited 1.2 percent cashback abroad, and special rewards with Shopee and YTL Hotels, among other partners.

Licensed by Bank Negara Malaysia and covered under PIDM, Ryt Bank focuses on , such as biometric login and live fraud alerts. The app can now be downloaded from the App Store and Google Play.