Meet Ryt Bank: the digital bank that speaks manglish and pays you daily interest

KUALA LUMPUR – Malaysia’s banking industry has entered a new era with the launch of Ryt Bank, the nation’s first fully AI-powered digital bank.

Backed by YTL Group in partnership with Singapore’s Sea Limited, Ryt Bank is positioning itself as the next-generation financial platform built around intelligence, convenience, and culture.

At the heart of the bank is Ryt AI, a conversational banking assistant powered by ILMU, Malaysia’s first homegrown large language model.

Unlike typical chatbots, Ryt AI can handle bill payments, transfers, and spending insights through natural conversations in Bahasa Malaysia, English, and Manglish. Mandarin support will be added by September, though limited to the app interface rather than Ryt AI itself.

Beyond transactions, Ryt AI also simplifies financial literacy, explaining money matters in plain language to help customers make better financial decisions.

“Ryt Bank demonstrates that groundbreaking innovation can be imagined, built, and led right here in Malaysia. By combining homegrown AI with the values and diversity of our people, we’ve created a bank Malaysians can proudly call their own – one that speaks our languages, understands our culture, and sets a new standard for how banking should feel,” Managing Director of YTL Power International Datuk Seri Yeoh Seok Hong said.

Banking with perks

Ryt Bank is offering savings accounts with interest of up to 4% per annum, credited daily. Its PayLater feature provides instant credit of up to RM1,499 with 0% interest if repaid within a month — no paperwork, no late fees.

The Visa-powered Ryt Card lets users switch between debit and credit in-app. It comes with 1.2% cashback on overseas spending and DuitNow QR payments, plus double cashback at selected partners such as Yes stores when paired with Ryt PayLater.

Other perks include zero foreign transaction and ATM withdrawal fees, an RM8 Shopee voucher, and 20% discounts at YTL Hotels restaurants.

Safe and licensed

Ryt Bank is fully licensed by Bank Negara Malaysia, with deposits insured by PIDM for up to RM250,000 per depositor. Security measures include biometric login, multi-layer encryption, and real-time fraud alerts. – August 26, 2025