Nowadays, transfer and pay bills with just ‘ss’, no need to stress!
YTL Digital Bank Berhad, a joint venture between YTL Digital Capital Sdn Bhd and Sea Limited, has received approval from the Ministry of Finance to commence its banking operations on 20 December 2024.
The digital bank, known as Ryt Bank, will be launched in stages to ensure smooth implementation.
Its main attraction is Ryt AI, an AI-powered chatbot that will act like a personal banker.
Customers can perform transactions such as money transfers with just a screenshot, which is very time-saving and can support multiple languages.
Chief Executive Officer, Melvin Ooi, said Ryt Bank will redefine the banking experience in Malaysia with inclusive and AI-driven financial services.
The parent company of YTL Digital Bank is 49.99% owned by SeaMoney Holding MY Ltd, 40.02% by YTL Digital Capital Sdn Bhd, and 9.99% by Datuk Syed Budriz Putra Jamalullail.
With all five digital banks now starting operations, namely GXBank, AEON Bank, Boost Bank, and KAF Investment Bank, competition in this sector is expected to intensify.
