A new challenger has emerged within the Malaysian banking world as Ryt Bank, which touts itself as the world’s 1st AI-powered bank, will be serving people through advanced AI with the culture, languages, and daily life we know here.
Launched with BM and English by default, with Mandarin coming in by September, the center of it all is the Ryt AI, a smart banking assistant powered by ILMU, Malaysia’s own large language model. It can chat naturally in Bahasa, English, or even Manglish, while helping you pay bills, track expenses, or explain financial basics in plain words — all with security baked in.
The features are pretty packed, as you can save and earn up to 4% daily interest with no lock-in, get instant credit through Ryt PayLater up to RM1,499, and even grab cashback perks like 1.2% on DuitNow QR payments or double that at Yes stores.
There’s also an all-in-one Ryt Card that can switch between debit and credit on the fly, runs on Visa globally, and comes with benefits like unlimited overseas cashback, no foreign transaction fees, free ATM withdrawals nationwide, plus rewards like Shopee vouchers and YTL dining discounts. And look, an RM5 sign-up bonus.
And yes, Ryt Bank is licensed by Bank Negara Malaysia and deposits are protected by PIDM, so it is safe to use. What’s more, it is a YTL Group + Sea Limited-backed company for extra confidence in its legitimacy.
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