MoF Approves Digital Banking Licence To YTL Digital Bank

KUALA LUMPUR, Jan 14 (Bernama) -- The Ministry of Finance (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 approval to commence operations as of Dec 20, 2024.

YTL Digital Bank said the bank will be launched in phases to the public to ensure a smooth rollout.

Ryt Bank chief executive officer Melvin Ooi said Ryt Bank, backed by the formidable strengths of YTL Digital Capital and Sea Ltd, is set to redefine banking in Malaysia.

“By harnessing the power of artificial intelligence (AI) to provide an unequalled customer experience, we will deliver financial services that are meaningful and inclusive while helping customers achieve their financial goals,” he said in a statement today.

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.

-- BERNAMA