Malaysia’s First AI-Powered Bank, Ryt Bank, Launches, Revolutionizing Financial Services
Kuala Lumpur, Malaysia – [Date] – Ryt Bank, Malaysia’s first AI-powered bank, has launched, promising a revolutionary approach to financial services. Developed by YTL Group in partnership with Sea Limited, Ryt Bank leverages cutting-edge AI technology to offer a seamless and culturally-sensitive banking experience for Malaysians.
A Malaysian-Centric Approach to Banking:
Ryt Bank is designed specifically for the Malaysian market, offering services in Bahasa Malaysia and English, with Mandarin support slated for September 2025. This commitment to multilingualism makes financial services more accessible and intuitive for diverse communities. This cultural sensitivity is a key differentiator in a market where traditional banks often struggle with language barriers and cultural nuances.
Ryt AI: Your Personalized Financial Assistant:
At the heart of Ryt Bank is Ryt AI, a powerful digital assistant powered by ILMU, Malaysia’s first locally-developed large language model. This groundbreaking technology enables natural language interactions in Bahasa Malaysia, English, or a mix, allowing users to effortlessly manage their finances through simple conversations. Ryt AI handles a wide array of tasks, from paying bills and tracking spending to providing easy-to-understand financial explanations. This convenience is coupled with robust security measures, ensuring enterprise-grade protection for user data.
One App, Multiple Financial Needs:
Ryt Bank consolidates multiple financial functions into a single, user-friendly app. Customers can seamlessly save, spend, borrow, and manage bills all within the app, with Ryt AI providing a highly personalized and conversational experience.
Key Features Designed for Malaysian Needs:
- Effortless Transactions: Send money or pay bills via text chat, integrating seamlessly with popular payment platforms like DuitNow and JomPAY. Snap and upload bills for instant payment.
- Financial Literacy Support: Access comprehensive financial guides and explanations readily within the app.
- Robust Security: All transactions are encrypted and verified for enhanced protection.
- Launch Reward: New users can unlock a welcome reward of up to RM5 for trying Ryt AI.
- High-Yield Savings: Earn competitive interest rates of up to 4% per year, credited daily, with no lock-in periods.
- Flexible Financing: Access instant credit of up to RM1,499 with Ryt PayLater, featuring a 0% interest policy if paid back within a month. Enjoy additional rewards on eligible transactions.
- Global Acceptance: The Ryt Card, switchable between debit and credit modes, is accepted worldwide via Visa. Enjoy no foreign transaction fees within Malaysia and earn cashback on eligible spending, including partner offers and discounts.
Regulatory Compliance and Security:
Ryt Bank’s operations are fully licensed by Bank Negara Malaysia and covered by PIDM’s deposit protection scheme, ensuring customer confidence with deposits up to RM250,000 per account. Comprehensive security protocols, including biometric logins, layered encryption, and real-time fraud alerts, add extra layers of protection.
A New Era for Malaysian Banking:
Ryt Bank’s innovative approach signifies a significant shift in the Malaysian banking landscape. By embracing AI and local language support, Ryt Bank promises to make financial services more accessible and convenient for all Malaysians.
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