Malaysia Launches First AI-Powered Bank, Ryt Bank, for Inclusive Financial Services in Local Languages

In the rapidly evolving world of banking, artificial intelligence (AI) is playing an increasingly significant role. With its ability to swiftly process vast quantities of data, assess risks, and automate routine tasks at speeds unmatched by humans, AI is transforming the sector. Malaysia has now joined this movement with the introduction of Ryt Bank, touted as the country’s first AI-driven banking institution.

Led by YTL Group in partnership with Sea Limited, Ryt Bank is poised to debut just prior to Merdeka. Dato’ Seri Yeoh Seok Hong, Managing Director of YTL Power International, expressed his enthusiasm, stating, “Ryt Bank embodies the potential for revolutionary innovation right here in Malaysia.” By integrating locally developed AI with the nation’s cultural and linguistic diversity, Ryt Bank aspires to become a bank that Malaysians can take pride in—an institution that resonates with their language, culture, and sets new standards for customer experience.

Ryt Bank has been engineered to operate fluently in the languages most commonly spoken within Malaysia. Its application is currently accessible in Bahasa Malaysia and English, with Mandarin support slated for release by September 2025. By providing multilingual access, Ryt Bank aims to promote inclusivity and user-friendliness among diverse communities.

At the heart of this AI-driven bank lies Ryt AI, a digital assistant powered by ILMU—Malaysia’s first domestically developed large language model. Capable of understanding natural dialogue in Bahasa Malaysia, English, or both, Ryt AI can execute requests instantly.

Ryt AI is equipped to manage bill payments, monitor spending patterns, and simplify financial concepts using simple terms. The aim is to blend convenience with cultural familiarity while maintaining enterprise-level security.

Designed as a one-stop solution for various financial needs, Ryt Bank’s app allows customers to save, spend, borrow, and manage bills using the AI-driven platform. With Ryt AI, these processes become more conversational and tailored to individual users.

Ryt Bank has been licensed by Bank Negara Malaysia and is covered by PIDM, which safeguards deposits up to RM250,000 per customer. Security measures include biometric login, advanced encryption, and real-time fraud alerts.

The advent of Ryt Bank showcases how AI is reshaping traditional banking models. By making financial services more accessible and adhering to local languages and regulations, the bank aims to strike a balance between innovation and compliance.