PETALING JAYA: The Finance Ministry (MoF) has approved the issuance of a digital banking licence to YTL Digital Bank Bhd, a joint-venture between YTL Digital Capital Sdn Bhd and Sea Ltd.
The next-generation digital bank, operating as Ryt Bank, has received the MoF approval to commence operations from Dec 20, 2024.
“The bank will be launched in phases to ensure a smooth rollout,” said Ryt Bank in a statement.
Ryt Bank chief executive officer Melvin Ooi said the lender, backed by YTL Digital Capital Sdn Bhd and Sea Ltd, is set to redefine banking in Malaysia.
“By harnessing the power of artificial intelligence (AI) to provide unequalled customer experience, we will deliver financial services that are meaningful and inclusive while helping customers achieve their financial goals.
“By empowering exceptional local talent, we have built a next-generation AI-powered platform that simplifies the customer experience – from fast, seamless onboarding to daily transactions – while delivering personalised and collaborative banking through advanced customer behaviour insights.”Ryt AI is a personalised, AI-powered private banker designed to simplify banking services, deliver tailored financial insights and manage advanced savings strategies.
Ryt AI ensures that the unique needs of every customer are met quickly, efficiently, and seamlessly.
It is further supported by 24/7 assistance to provide an unparalleled banking experience, according to the statement.
