Malaysia Launches Its First AI-Powered Bank

Malaysia launches its first AI-powered bank, Ryt Bank, offering innovative digital services.

In Malaysia, Ryt Bank has been launched as the country’s first bank powered by artificial intelligence. The project is introduced by YTL Group in partnership with Sea Limited.

The Ryt Bank app is available in English and Malay. At the heart of the project is a digital assistant based on the large language model ILMU, developed locally. Ryt AI understands natural language and can execute requests instantly.

The AI assistant can read and pay bills, track expenses, and explain financial basics in simple terms. The idea is to combine convenience with cultural nuances while maintaining corporate-level security.

Key AI features include:

• sending money via text chat;
• uploading photos of bills or receipts for payment;
• providing simple explanations and instructions during banking operations.

“Ryt Bank demonstrates that breakthrough innovations can be conceived, created, and developed right here in Malaysia. By combining local AI with the values and diversity of our people, we have created a bank that Malaysians can truly be proud of,” said YTL Power International Managing Director Dato’ Seri Yeoh Seok Hong.

The financial institution is licensed by Bank Negara Malaysia and insured by PIDM. Security features include biometric login, multi-level encryption, and instant notifications of suspicious transactions.

Back in January 2025, the Bank of China announced the allocation of 1 trillion yuan ($137.5 billion) over five years to financially support AI companies.