Alibaba Cloud partners with Ryt Bank, PRO-NET for banking, EVs

Alibaba Cloud has announced new partnerships with Ryt Bank and Proton New Energy Technology (PRO-NET) to support digital banking and EV initiatives in Malaysia.

Ryt Bank, which is building an AI-based digital banking platform, uses Alibaba Cloud’s infrastructure to run its core banking systems and comply with local regulations.

PRO-NET, the energy subsidiary of Malaysian carmaker Proton, is working with Alibaba Cloud to develop a national platform for EVs, including deploying AI tools for internal operations and future customer applications.

These collaborations were unveiled at Alibaba Cloud AI Day in Kuala Lumpur, and attended by Malaysia’s deputy minister of digital.

Alibaba Cloud said its technology will help both partners improve operational efficiency, security, and customer experience.

Ryt Bank is a digital bank led by YTL Group and Sea Limited, while PRO-NET distributes Proton’s new energy vehicles and related mobility services in Malaysia.

🔗 Source: Alibaba Cloud

🧠 Food for thought

Implications, context, and why it matters.

Ryt Bank runs core banking on Alibaba Cloud, with launch and BNM license in place

Launched in August 2025, Ryt Bank holds a BNM license 1.
The bank took eight to nine months to clear BNM’s operational readiness review 2. The review covers risk, compliance and technology.
Ryt AI is the bank’s assistant. It runs on ILMU, Malaysia’s first homegrown large language model (LLM) 1.
BNM updated its Risk Management in Technology (RMiT) policy in November 2024 with guidance on cloud services 3. Ryt Bank must align its Alibaba Cloud setup with these rules.

Vendors can win BNM-compliant cloud work as regulated firms move to public cloud

Risk Management in Technology (RMiT) sets six areas to meet 3. They include Governance, Technology Risk Management, Cybersecurity Management and Technology Audit. Consultancies and software firms can help banks hit these standards on public cloud.
The November 2024 RMiT update adds tighter supervisory reviews for emerging tech 4. Lenders will likely need specialized advisors to manage cloud moves under closer oversight.
Cybersecurity players can model on LogRhythm, a monitoring platform that supports RMiT through log collection, analysis and automated alerts 3. That approach can shape BNM-specific security tools for Alibaba Cloud.
As banks in Malaysia adopt public cloud, including Alibaba Cloud, vendors that offer data residency checks, disaster recovery and audit trails tuned for BNM rules can stand out.