Ryt Bank announced it has surpassed 1.2 million users since its launch in August 2025, positioning it as one of the fastest-growing digital banks in Malaysia. This rapid growth reflects strong customer trust, with users adopting the platform for simpler financial management.
The adoption rate is matched by high usage: transaction volumes have grown more than 35 times since launch, with increased activity in bill payments and card usage for groceries and dining. Central to this engagement is Ryt AI, developed with YTL AI Labs and built on Malaysia’s sovereign AI model, Ilmu. Nearly half of all users have engaged with Ryt AI, finding it intuitive for tasks like transfers and bill payments. Notably, users who utilize Ryt AI return to the app at nearly double the rate of those who do not.
The bank’s commitment to financial inclusion is evident, as a significant majority of its customers come from underserved segments. Ryt PayLater further supports this by offering instant credit up to RM1,499, a feature customers are primarily using to manage short-term cash flow for essentials like petrol and groceries.
Looking ahead, Ryt Bank is expanding its services beyond everyday transactions. In the coming weeks, the bank will roll out Ryt PayLater on Card, allowing users to choose between paying now or later with a single card, and Ryt Invest, enabling users to start investing directly within the app.
The post Ryt Bank hits 1.2 million users in 7 months, expands into AI, PayLater and investing appeared first on Nasi Lemak Tech.