Malaysia launches Ryt Bank, the world’s first AI-powered digital bank, created by Malaysians for Malaysians.
Key Takeaways
- Ryt Bank, launched by YTL Group and Sea Limited, is the world’s first AI-powered bank, built with Malaysia’s cultural and linguistic diversity in mind.
- The bank features Ryt AI, an intelligent assistant powered by ILMU, Malaysia’s first local large language model.
- Offers multilingual support with services currently in Bahasa Malaysia and English, and Mandarin coming by September 2025.
- Licensed by Bank Negara Malaysia and protected by PIDM, Ryt Bank provides services like savings, credit, daily interest, and personalized financial guidance.
What Happened?
Just ahead of Malaysia’s Merdeka Day, a significant digital milestone was reached with the launch of Ryt Bank, the world’s first fully AI-powered bank. Spearheaded by YTL Group in partnership with Sea Limited, the bank blends cutting-edge artificial intelligence with a distinctly Malaysian touch, setting a new precedent for what banking can look and feel like in the region.
💙 Ryt Bank is officially LIVE for all Malaysians, 18 and above!
— rytbankmy (@rytbankmy) August 25, 2025
Backed by multi-tier security and PIDM protection, your money isn’t just growing, it’s safe.
📲 Download Ryt Bank now on the App Store & Google Play.https://t.co/XnqVQhUbF7#RytBank #BankingDoneRight pic.twitter.com/YnjnuV0VZw
Banking Reimagined with Local Culture in Mind
Ryt Bank is not just another digital bank. It’s tailored to reflect Malaysia’s multicultural identity, offering multilingual access in Bahasa Malaysia and English, with Mandarin support scheduled for release in September 2025. This approach ensures inclusivity and ease of use for Malaysia’s diverse population.
At the center of this innovation is Ryt AI, a smart digital assistant built on ILMU, Malaysia’s first homegrown large language model. Ryt AI understands and responds to natural conversations, including local dialects and “Manglish.” Whether it’s explaining financial basics or paying bills, Ryt AI turns everyday banking into a simple, intuitive experience.
Comprehensive Features in One App
Ryt Bank consolidates all key financial services into a single mobile application, redefining convenience:
- Daily savings interest of up to 4 percent per annum, credited daily with no lock-in period.
- Send money or pay bills via simple chat commands, compatible with DuitNow and JomPAY.
- Snap and pay utility bills or receipts, integrated with over 20,000 billers.
- Instant credit through Ryt PayLater, offering up to RM1,499 with 0 percent interest if paid within a month, no late fees, and no paperwork.
- Ryt Card, a flexible card that lets users toggle between debit and credit modes, accepted worldwide via Visa.
- Extra perks include cashback rewards, Shopee vouchers, and discounts at YTL Hotels.
Safety, Security, and Regulatory Trust
Ryt Bank operates under the Bank Negara Malaysia license and is protected by Perbadanan Insurans Deposit Malaysia (PIDM), guaranteeing deposits up to RM250,000 per customer.
Security is a top priority, with features like:
- Biometric logins
- Real-time fraud alerts
- Layered encryption
- Transaction verifications
This positions Ryt Bank not only as a tech-forward solution but also as a compliant, trustworthy financial institution.
CoinLaw’s Takeaway
In my experience covering fintech and AI innovation, Ryt Bank is a standout moment for Malaysia’s digital evolution. What I found truly impressive is how deeply localized the product is. It’s not just about AI and automation, it’s about making tech feel human and culturally fluent. Malaysians now have a banking experience that understands them, quite literally, and speaks their language. The launch of Ryt Bank proves that world-class innovation doesn’t have to come from Silicon Valley, it can emerge from Kuala Lumpur, made for the people it serves.
