Ryt Bank is celebrating its first anniversary and the YTL-backed digital bank says it now has more than 1.5 million customers in Malaysia.
This makes Ryt Bank the largest digital bank in Malaysia by customer base, just 12 months after it officially launched to the public in August 2025.
The milestone also shows that Ryt Bank continues acquire customers at a fairly rapid pace. Back in April 2026, Ryt Bank announced that it had surpassed 1.2 million users in just over seven months. This means the digital bank has added 300,000 customers in about 4 months.
As a reference, GXBank recently crossed its 1.4 million customer milestone in May 2026.
Ryt Bank hits 1.5 million customers in its first year
Besides growing its customer base, Ryt Bank highlighted several milestones achieved during its first year.
In February 2026, the Ryt Bank app became Malaysia’s most downloaded app across both the Apple App Store and Google Play, according to the digital bank. It also ranked first in the finance category.
Meanwhile, customers have used Ryt AI more than 10 million times during its first year to perform everyday banking tasks.
Ryt Bank Interim Chief Executive Officer Wilson Soon said, “Nobody had built a bank like this in Malaysia before, and the team that made it happen is Malaysian from top to bottom.”
“We’ve put Malaysia on the world map for what’s possible when we rethink what a bank can be. But we couldn’t have done it without 1.5 million Malaysians choosing to make Ryt Bank part of their lives. This month is for them,” he added.
Ryt AI and new ways to activate your account
One of Ryt Bank’s key features is Ryt AI, its AI-powered banking assistant which runs on ILMU, Malaysia’s homegrown large language model developed by YTL AI Labs. Ryt AI lets users perform banking tasks through conversational prompts and can read receipts, images and attachments, as well as handle several requests within a single conversation. The banking experience is available in English, Bahasa Melayu and Chinese.
Ryt Bank says Ryt AI has expanded over the past year to complete tasks across more parts of the app. When there’s a payment with a transaction, Ryt AI can provide options for customers to get a way through instead of merely displaying an error message.
More recently, Ryt Bank announced that it is introducing account activation through ATMs and over the counter at physical bank branches. Ryt Bank says it is the first digital bank in Malaysia to offer this option, making it possible for Malaysians without an existing online banking account to activate a Ryt Bank account.
Ryt Groups uses AI to split your bill
Ryt Bank has also introduced Ryt Groups, a new feature designed to make splitting and settling shared expenses easier.
Instead of manually calculating how much everyone owes after a meal, users can scan a receipt and Ryt AI will automatically itemise each purchase. It can also apply SST and service charges where applicable before calculating exactly how much each person owes.
Payments can then be settled within the Ryt Bank app. Besides meals with friends, Ryt Bank says the feature can be used for shared expenses such as family holidays and household expenses.
Customers who settle a Ryt Groups expense during the launch period can receive a foodpanda voucher worth up to RM15.
Ryt Bank celebrates first anniversary with referral rewards
As part of its first anniversary celebrations during Merdeka month, Ryt Bank is also offering its biggest referral reward yet.
Throughout the anniversary campaign, customers can earn RM100 or a guaranteed RM5 for themselves and their friends with every successful referral.
A successful referral counts when your friend signs up for Ryt Bank using your referral code, activates the account and then either joins a Ryt Group or complete a minimum Ryt AI transfer of RM10.
More Ryt Bank features are coming
Ryt Bank says its anniversary celebrations will continue throughout August, with new products, experiences and rewards being introduced every week.
One confirmed return is the Limited Edition Ryt Card. The bank also teased the arrival of one of its “most requested features”, but it has yet to officially reveal what it is.
Based on Ryt Bank’s teaser image, the upcoming announcements may include Apple Pay support, Priority Access, a higher limit for Ryt PayLater and a limited merchandise drop. We’ll have to wait for the respective announcements for more details.
Wilson said, “Our first year has completely exceeded our expectations and made us realise just how much more there is to do. The incredible response from Malaysians has shown us that there is a real appetite for a different kind of banking experience.”
“We’re proud of what we’ve built, but we’re even more excited about what comes next. We’re only getting started,” he added.
Ryt Bank is now Malaysia’s largest digital bank with over 1.5 million users
News Reports PH
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