Key Features and Services
Ryt Bank's main differentiating feature is its core AI assistant, Ryt AI, which is built on ILMU, Malaysia's first homegrown large language model. This AI assistant allows users to perform banking tasks through natural conversation in languages like Bahasa Malaysia, English, and Manglish.
Some of its notable services include:
Ryt AI: An intelligent assistant that can handle tasks like paying bills from a screenshot, transferring funds via text commands, tracking spending, and explaining financial terms.
Savings: The bank offers a savings account with a competitive interest rate of up to 4.00% per annum, with interest credited daily. There is no lock-in period, making it suitable for short-term savings goals.
Ryt PayLater: This is a credit facility that offers users instant credit of up to RM1,499 with 0% interest if the amount is repaid within the first month.
Ryt Card: A Visa-powered card that combines both debit and credit functionalities. It also offers perks like unlimited 1.2% cashback on overseas spending and zero foreign transaction fees.
Easy Onboarding: The sign-up process is fully digital and can be completed in just a few minutes using a MyKad and a selfie for eKYC verification.
The bank's focus on AI and a seamless user experience is aimed at making banking more accessible and intuitive for a diverse range of customers, including the underserved and underbanked population in Malaysia.
Ryt Bank is here for Malaysians! (Review and First Impressions)
