Ryt Bank has grown to 1.2 million users since its August 2025 debut, with the bank reporting strong uptake in transactions and bill payments.
The digital bank reported that it has processed more than 25 million transactions so far, while monthly transaction volumes have increased more than 35 times since launch.
Bill payments have risen more than tenfold in recent months, while card usage has also increased as more customers use the Ryt Card for shopping, dining and groceries.
Nearly half of the bank’s users have engaged with Ryt AI, a feature developed with YTL AI Labs using Ilmu, which it described as Malaysia’s sovereign AI model.
The feature allows users to complete tasks such as transfers and bill payments through simple prompts in the app.
Adoption of Ryt AI has been seen across all age groups, including users aged 50 and above.
Users who engage with the feature return to the app at nearly twice the rate of those who do not.
Ryt Bank also pointed to growing use of Ryt PayLater, which offers instant credit of up to RM1,499.
The feature is mainly being used for essential spending such as groceries, petrol and bills, rather than discretionary purchases.
A large share of its customers come from underserved and unserved segments, reflecting its focus on expanding access to essential financial tools and short-term credit.
Interim CEO Wilson Soon said,
“Reaching 1.2 million users in just over seven months is a significant milestone for us.
More importantly, it reflects how quickly Malaysians are embracing a different way of banking, one that is simpler, more intuitive, and built around everyday needs.”
Ryt Bank plans to introduce Ryt PayLater on Card in the coming weeks, allowing users to choose whether to pay now or later with a single card.
It is also preparing to launch Ryt Invest, which will allow users to invest directly through the app.
Ryt Bank’s update comes as Malaysia’s five digital banks reached 2.4 million customers by end-2025, with about 65 percent of those users coming from unserved and underserved groups, according to Bank Negara Malaysia’s Annual Report 2025.
Featured image: Edited by Fintech News Malaysia, based on image by Ryt Bank
