Bank Negara Malaysia is ready to issue five licenses for digital banks before. After four digital banks announced their respective offerings, today, YTL officially announced their digital bank that will operate under the Ryt Bank brand.
Ryt Bank is under YTL Digital Bank Berhad, an entity jointly established by YTL and Sea Limited (the parent company of Shopee). For now, Ryt Bank has received approval to begin operations, and it is expected to be introduced to the public in stages in the near future.
What is interesting about Ryt Bank is that it offers a form of banking that can be done through chat or in the form of chat. Ryt Bank stated that this can be done through the use of artificial intelligence. This also makes it easier for Ryt Bank to become an AI-powered personal banker, and operates 24/7.
Through several demos shown, it shows banking support that can be done easily through chat. With this development, let's all look forward to the official launch of Ryt Bank, and how they will offer something different in the banking arena for the Malaysian market. Along with the announcement of Ryt Bank, the official website for Ryt Bank has also been active starting today.