Latest news with #RytBank
Finextra
4 days ago
- Business
- Finextra
Ryt Bank taps Episode Six to power cards infrastructure
Ryt Bank, the world's first AI-powered bank, today announced its partnership with Episode Six, a leading global technology provider of enterprise-grade card issuing and ledger infrastructure. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Through this partnership, Episode Six will serve as the technology powering all card transactions at Ryt Bank — enabling secure, scalable, and flexible banking for the next generation of Malaysians. Ryt Bank is built from the ground up with a digital-first approach. Led by YTL Digital Capital Sdn Bhd, with Sea Limited as a shareholder, the bank is rethinking how financial services should look and feel by blending innovation, simplicity, and trust. With Episode Six's advanced infrastructure, Ryt Bank can deliver instant card issuance, real-time authorizations and personalized spend controls. All within one seamless platform. Episode Six delivers the speed, flexibility, and control required to power a truly modern banking experience. More than just supporting card transactions, Episode Six's technology enables Ryt Bank to build around customers' evolving needs — making it possible to create seamless, future-ready financial solutions. Episode Six's platform enables full customization of card features, without the limitations of legacy systems. Already trusted in over 45 countries, the platform ensures that Ryt Bank can scale quickly while maintaining operational excellence. 'We're proud to be the technology powering Ryt Bank's cards infrastructure,' said John Mitchell, CEO and Co-Founder of Episode Six. 'Ryt Bank's bold vision aligns with our commitment to helping digital-first banks move faster, serve better, and lead confidently in a dynamic market.' This partnership also strengthens Episode Six's regional footprint in Southeast Asia as the company continues enabling digital financial institutions with the tools to deliver real-time, future-proof financial services.
Malay Mail
7 days ago
- Business
- Malay Mail
First look at Ryt Bank, Malaysia's first digital bank powered by AI
KUALA LUMPUR, Aug 12 — Malaysia's newest Digital Bank, Ryt Bank, is launching very soon but they are now offering early access during the Asean AI Malaysia Summit 2025. Although this digital bank is the last among the 5 licensees to roll out to the public, the YTL Group x Sea Limited joint venture is banking on AI as its key differentiator. Since April, the public can join their waitlist by downloading the Ryt Bank app which is available on both the Apple App Store and Google Play Store. If you can't wait to give it a try, you can get on board instantly at the YTL AI Labs booth in MITEC on 12th and 13th August 2025. Ryt Bank offers instant onboarding in just two minutes Being a digital-first offering, the sign up process for Ryt Bank is instant and you can get onboarded in about 2 minutes inclusive of the eKYC (electronic Know Your Customer) process. Here's what the digital bank has to offer based on our early access. At the moment, Ryt Bank offers a Savings account and a Visa Debit Card. They are also offering a limited edition Ryt Card which looks pretty sleek and we are told there are different designs on the way. While waiting for the debit card to arrive, you can start spending using the virtual card using the details within the app. For merchants that don't accept card payments, it also supports DuitNow QR too. The physical debit card has an issuance fee of RM12 but it is currently waived until September 30, 2025. As you would expect from a digital bank, you can manage your card spending limits, transaction type and even freeze the card directly from the Ryt Bank app itself. Ryt Bank is currently offering 3.00 per cent p.a. interest for its Savings Account and the interest is credited to your account daily. In fact, when you make a deposit, it will even provide an indicative daily earnings based on the 3 per cent p.a. rate. In terms of fees, they are currently waiving the RM1 domestic cash withdrawal fees via MEPS ATM until September 30, 2025. If you plan on using the card outside of Malaysia, there's an overseas cash withdrawal fee of RM12 and there's also a foreign transaction fee of 2 per cent on the transacted amount with foreign merchants on top of Visa's exchange rates. By default, there's a daily card withdrawal and spending limit of RM3,000 but these limits can be increased to RM10,000. Ryt AI is a game-changer The biggest highlight of Ryt Bank is its Ryt AI that's powered by ILMU. With AI, users are able to make fund transfers and bill payments by simply snapping a photo or sending a screenshot. Through better contextual understanding, fund transfers can be done quickly without fiddling through manual drop down menus and text fields. For example, you can just say 'Transfer RM100 to MBB XXXXXXX', and it will automatically prepare a fund transfer of RM100 to the specified Maybank account. The transaction will only proceed if you hit the confirm button. It's the same thing as well for Duitnow transfers to phone numbers or Mykad number. A simple text or screenshot of a message is all it takes to prepare the required fund transfer. However, the feature to pay bills through Ryt AI isn't ready just yet. When we took a photo of the bill, it notified us that JomPay isn't supported but it can proceed if the bill has bank transfer details. Similarly, when we share a picture of personal DuitNow QR code, Ryt AI couldn't recognise the recipient details from the QR code. So for now, you'll need to scan the DuitNow QR from the home screen. It is worth pointing out that Ryt AI is still in Beta, and we reckon these teething issues would be sorted over time. From what we are seeing right now, Ryt Bank looks promising as it offers a unique digital banking experience that's never seen before. The onboarding process is seamless and the app itself looks polished ahead of its public release. With Ryt AI integration, we can imagine a seamless and clutter free experience even after Ryt Bank adds more products and services to its app. Just tell it what you want to do and it will prepare the necessary in a clean and sleek interface. This is something other traditional banks should take note of if they want to stay ahead of the game. — SoyaCincau
Yahoo
23-07-2025
- Business
- Yahoo
Ryt Bank taps Provenir for AI credit decisioning platform
Ryt Bank, claimed to be the world's first AI-powered bank, has teamed up with Provenir, a provider of AI risk decisioning software. The Malaysian bank has chosen Provenir AI Decisioning Platform to facilitate quicker credit assessments and tailor customer offers for its consumer lending services. As a newly licenced digital bank, Ryt Bank sought to rapidly introduce a consumer lending product that reflects its AI-centric strategy. The bank faced the challenge of establishing a decision-making framework that could deliver immediate, customised loan approvals while adhering to regulatory requirements and risk management protocols. The tech vendor said that its platform will help the bank benefit from real-time credit risk evaluations, enabling instant loan approvals and personalised loan offers derived from AI-based customer profiling. Additionally, Provenir will assist in automating compliance checks to ensure regulatory adherence and provide learning models to respond to evolving market conditions. This partnership is expected to enhance decision-making speed and accuracy, thereby improving the overall customer experience. Provenir APAC head Kavinesswaran Karthigasan said: 'Ryt Bank is taking digital banking to a new level with its AI-first approach and we are excited to be a part of its journey. 'Our AI Decisioning Platform will provide the foundation for Ryt Bank to help reach its business goals via AI-driven decisioning that meets customer expectations for near instant approvals and highly personalised digital interactions.' In April this year, Atom Bank in the UK selected Provenir's AI Decisioning Platform to improve credit risk decision-making and data orchestration for its consumer and business banking services. "Ryt Bank taps Provenir for AI credit decisioning platform" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Finextra
23-07-2025
- Business
- Finextra
Ryt Bank selects Provenir for AI risk decisioning
Provenir, a global leader in AI risk decisioning software, today announced it has partnered with Ryt Bank – The World's First AI-Powered Bank – to embolden the company's innovation and mission to deliver banking done right with speed, simplicity, and innovation. 0 Ryt Bank has selected the Provenir AI Decisioning Platform to power faster credit decisions and more personalized customer offers for its consumer lending products. As a newly licensed digital bank, Ryt Bank aimed to rapidly launch a consumer lending product that aligns with its AI-first approach. The challenge was to implement a decisioning infrastructure capable of delivering instant, personalized loan approvals while ensuring compliance with regulatory standards and risk management best practices. Ryt Bank selected Provenir's AI Decisioning Platform to support real-time credit risk assessment for instant loan approvals, and for its ability to surface data insights for personalized loan offers based on AI-driven customer profiling. Provenir will also play a crucial role in automating compliance checks to meet regulatory requirements while providing continuous learning models to adapt to changing market dynamics. Finally, Provenir will support fast, accurate decisions to elevate the customer experience, supporting Ryt Bank's mission to deliver smarter, faster finance and create meaningful impact for all Malaysians. 'Ryt Bank is taking digital banking to a new level with its AI-first approach and we are excited to be a part of its journey,' said Kavinesswaran Karthigasan, Head of APAC, Provenir. 'Our AI Decisioning Platform will provide the foundation for Ryt Bank to help reach its business goals via AI-driven decisioning that meets customer expectations for near instant approvals and highly personalized digital interactions.'
Barnama
23-07-2025
- Business
- Barnama
Provenir Powers AI-driven Lending Revolution At Malaysia's Ryt Bank
KUALA LUMPUR, July 23 (Bernama) -- Provenir, a global leader in artificial intelligence (AI) risk decisioning software, has partnered with Ryt Bank, the world's first AI-powered bank, to accelerate consumer lending through real-time credit risk assessments and personalised offers. The Provenir AI Decisioning Platform enables Ryt Bank to deliver instant loan approvals while automating regulatory compliance and adapting to evolving market risks, according to a statement. Provenir Head of APAC, Kavinesswaran Karthigasan said: 'Ryt Bank is redefining digital banking, and we are proud to fuel that transformation.
