Malaysia Launches Ryt Bank, World’s First AI-Powered Bank.
Banking & Finance
In August 2025, Malaysia launched Ryt Bank, the world’s first Artificial Intelligence (AI)-powered bank developed indigenously for local users. The initiative highlights Malaysia’s rapid digital transformation and growing role in global fintech innovation.
- Ryt Bank was developed by Malaysia’s YTL in collaboration with Singapore’s tech firm Sea Limited, marking a milestone partnership in the digital banking sector. The project emphasizes cross-border cooperation to strengthen Southeast Asia’s fintech ecosystem.
Main Point :- (i) The bank is supported by the Ryt AI application, which is multilingual and currently available in Bahasa, Malaysia, and English, with Mandarin support expected by September 2025. This makes it the first multilingual AI-powered digital banking platform designed for diverse users.
(ii) Ryt AI functions as an always-on banking assistant tool, powered by ILMU, Malaysia’s first indigenously developed Large Language Model (LLM), ensuring intelligent, automated, and user-friendly banking services. The new Ryt Bank is officially licensed by Bank Negara Malaysia, the country’s central bank.
Prime minister: Anwar Ibrahim
Official language: Malay
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