Al Rajhi Bank Malaysia launches digital bank Rize

Al Rajhi Bank Malaysia, a wholly owned subsidiary of Saudi Arabia’s Al Rajhi Bank, has officially launched Rize, a new digital bank for Malaysian customers.

Rize is a new digital bank in Malaysia

Rize will offer a host of services including deposits, withdrawals and transfers, account management, personal finance management, ATM services, e-statements and personal financing.

“At its core, Rize is a digital bank seeking to inspire and empower our customers—whom we call Rizers—to achieve their hopes and dreams and encourage friends and family to help them realise their goals,” says Arsalaan Ahmed, CEO of Al Rajhi Bank Malaysia.

“All Rizers’ banking needs will be made available on their smartphone without the need to go to a physical branch.”

The Rize app also includes savings pots as an “exclusive feature in Malaysia that no other financial institution or fintech player offers”.

“From the get-go, we will offer a wide range of financial services as you download the app today,” Ahmed adds.

“In time, we will have a robust marketplace powered by a market-leading embedded finance ecosystem.”