Malaysia has made history with the launch of Ryt Bank, which it touts as the world’s first AI-powered bank. The new digital bank is led by YTL Group in partnership with Sea Limited and is built around homegrown artificial intelligence developed in Malaysia.
Why it Matters: This marks a significant milestone not only for Malaysia but also for the global banking industry. Ryt Bank positions itself as the first of its kind, using artificial intelligence as the core of its operations. It is designed to serve Malaysians in their own languages and cultural context, while offering secure, inclusive, and AI-driven financial services.
At the center of the new platform is Ryt AI, powered by ILMU, Malaysia’s first large language model. The assistant can understand and respond naturally in Bahasa Malaysia, English, and Manglish, with Mandarin support coming by September 2025. It can help with tasks such as paying bills, monitoring spending, and explaining financial basics in simple terms.
The app also integrates everyday banking services, from savings that earn up to 4 percent interest paid daily, to instant credit through Ryt PayLater of up to RM1,499 with no late fees. Users can also access an all-in-one Visa-powered Ryt Card, which can switch between debit and credit, offering cashback rewards, no foreign transaction fees, and exclusive partner perks.
Licensed by Bank Negara Malaysia and protected under PIDM, Ryt Bank emphasizes both security and accessibility. Features include biometric login, layered encryption, and real-time fraud alerts.
YTL Power International managing director Dato’ Seri Yeoh Seok Hong said Ryt Bank reflects Malaysia’s ability to innovate for its own people, combining advanced AI with cultural understanding.
Ryt Bank is now available for download on the App Store and Google Play.
Do you want me to also prepare a shorter sidebar explainer that focuses only on what makes Ryt Bank an “AI-first bank” so readers can quickly grasp its distinction from regular digital banks?
