Al Rajhi Bank Malaysia unveils Rize

Rize, a new digital bank for Malaysian consumers, has been launched by Al Rajhi Bank Malaysia, a fully owned subsidiary of Al Rajhi Bank in Saudi Arabia.

Deposits, withdrawals, and transfers, account administration, personal financial management, ATM services, e-statements, and personal financing are just a few of the services that Rize will provide.

“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.”