1.2 Million Users In Just Over Seven Months, Ryt Bank Becomes Malaysia’s Fastest-Growing Digital Bank

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Ryt Bank today announced that it has surpassed 1.2 million users in just over seven months since its launch in August 2025, reflecting the trust Malaysians place in the platform and positioning it as one of the fastest-growing digital banks in the country.

The milestone reflects strong customer trust and rapid adoption, with more Malaysians turning to Ryt Bank as a simpler and more flexible way to manage their finances.

At 1.2 million users, this growth is matched by how actively customers are using the platform in their daily lives. Transaction volumes have grown more than 35× since launch, with tens of thousands of users transacting daily across payments, transfers and everyday spending. Bill payments have increased more than tenfold in recent months, while card usage continues to scale, with more users relying on their Ryt Card for shopping, dining and groceries.

Among all offerings, Ryt AI is central to this shift. Developed in partnership with YTL AI Labs and built using Ilmu, Malaysia’s sovereign AI model, Ryt AI enables customers to complete tasks such as transfers and bill payments through simple, intuitive interactions. Today, nearly half of all Ryt Bank users have engaged with Ryt AI. Adoption spans all age groups, including users aged 50 and above, demonstrating how Ryt AI is making everyday banking simpler and more intuitive for everyone. Notably, users who engage with Ryt AI return to the app at nearly 2X the rate of those who do not, reflecting stronger ongoing engagement.

Ryt PayLater further supports this by offering instant credit of up to RM1,499, giving customers added flexibility to manage everyday expenses such as groceries, petrol and bills. Usage is concentrated around essential spending, reflecting how customers are using the feature to better manage short-term cash flow rather than discretionary purchases.

A significant majority of Ryt Bank’s customers come from underserved and unserved segments, reflecting its focus on expanding access to essential financial tools. From everyday payments to short-term credit, these users are relying on Ryt Bank to better manage their financial needs, underscoring the bank’s continued delivery on its financial inclusion commitments.

“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,” said Wilson Soon, interim CEO of Ryt Bank.

“What matters most is how customers are using Ryt Bank in their daily lives, not just signing up, but coming back to spend, save and manage their money. At the same time, we remain focused on supporting broader national priorities around financial inclusion, by making everyday banking tools more accessible, intuitive and useful for all Malaysians, particularly those who have been underserved by traditional banking.”

Expanding Beyond Everyday Banking

Building on this momentum, Ryt Bank is extending its offering beyond everyday transactions. In the coming weeks, the bank will roll out Ryt PayLater on Card, allowing users to choose to pay now or later with a single card, alongside Ryt Invest, which enables users to begin investing directly within the app.

Together, these additions reflect a broader shift, from enabling transactions to supporting how users manage and grow their money.

For more information, visit Ryt Bank’s official website here, follow Instagram @rytbankmy, or connect with Ryt Bank on Facebook.

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