AI Weekly Malaysia

Reserve Bank of India governor Sanjay Malhotra urged banks to use AI to approve loans for underbanked groups like gig workers and first-time borrowers by analyzing alternative data such as GST filings, utility payments, and digital footprints. He also advocated for AI voice interfaces in local languages to improve financial inclusion and early warning systems for default risk.

Why: Fintech and SaaS founders in Malaysia can anticipate similar regulatory pushes for AI-driven financial inclusion using alternative data, especially for vernacular language interfaces and gig economy underwriting.

Ryt Bank, backed by YTL Power International and Sea Limited, is the first Malaysian digital bank to allow account activation and initial funding via physical ATMs and bank branches through the Interbank GIRO (IBG) network. Users complete eKYC on the app, then fund at an ATM or over-the-counter; accounts activate within one working day, with no fixed minimum for offline transfers.

Why: For fintech and payments builders in Malaysia, this signals that digital banks are actively building hybrid onboarding flows that integrate legacy rails (IBG, ATM networks) rather than pure app-only journeys. If you're designing KYC or onboarding for underbanked segments, consider whether your flow assumes online banking access and whether partnering with physical cash-in channels materially widens your addressable user base.