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Malaysia’s banking landscape has been reshaped with the introduction of Ryt Bank, a new, AI-powered financial institution. Backed by YTL Group in partnership with Sea Limited, Ryt Bank aims to provide a more accessible and user-friendly banking experience tailored specifically for the Malaysian market. The bank offers multilingual support in Bahasa Malaysia, English, and soon, Mandarin, ensuring broad inclusivity.

The driving force behind Ryt Bank is Ryt AI, a sophisticated digital assistant built on ILMU, a locally developed large language model. Ryt AI is designed to understand natural language, allowing users to manage bill payments, track spending, and receive clear financial explanations through simple, conversational interactions.

Ryt Bank’s mobile app empowers customers with a range of financial tools, including saving, spending, borrowing, and bill payment options. Highlights include:

* **Ryt AI-Powered Personal Banking:** Conduct transactions and access financial guidance via a conversational interface.
* **High-Yield Savings:** Earn up to 4% annual interest with flexible access to funds.
* **Ryt PayLater:** Utilize instant credit with 0% interest for one-month repayment periods.
* **Versatile Ryt Card:** Easily switch between debit and credit functionalities, unlocking cashback rewards and exclusive partner offers.

Ryt Bank operates under the licensing and regulatory oversight of Bank Negara Malaysia, and deposits are insured by PIDM up to RM250,000 per depositor. Security is paramount, with features such as biometric login and immediate fraud notifications in place. Ryt Bank’s fusion of advanced AI technology with a deep understanding of local culture marks a pivotal advancement for Malaysia’s financial sector, prioritizing both accessibility and robust security measures.