Ryt Bank has crossed 1.2 million customers just over seven months after launching in August 2025.

Nearly half of those users are already using Ryt AI, the bank’s in-app assistant, to handle transfers and bill payments. Its PayLater credit line, meanwhile, is going mostly towards groceries, petrol, and monthly bills rather than non-essentials like gadgets or fashion.

Since launch, Ryt Bank says it has processed more than 25 million transactions, with monthly volumes now running at over 35 times what they were in the early weeks. Bill payments have grown more than tenfold in recent months, and card spending on shopping, dining, and groceries continues to climb.

AI Is Quietly Becoming Part Of Everyday Banking

Ryt AI, built in partnership with YTL AI Labs and running on Ilmu, Malaysia’s sovereign AI model, lets you complete common tasks like transferring money or paying a bill by telling the app what you want to do, rather than tapping through menus.

Close to half of all Ryt Bank users have tried Ryt AI so far, and adoption is not limited to younger customers. People aged 50 and above are using it too, which suggests the conversational approach is lowering the barrier for people who find traditional banking apps fiddly. Customers who engage with Ryt AI return to the app at nearly twice the rate of those who don’t.

PayLater Is Being Used To Cover The Basics

Ryt PayLater offers instant credit of up to RM1,499 for customers who qualify. According to the bank, usage is concentrated around essential spending such as groceries, petrol, and bills.

Instead of using short-term credit to splurge, many customers are using it to smooth out cash flow between paydays, covering the non-negotiables when the account is running thin. Even small credit lines matter in household budgeting, especially for customers who may not qualify for a conventional credit card.

Ryt Bank also says most of its customers are Malaysians who have had limited or no access to traditional banking services in the past, such as those without a credit card or a proper savings account. That aligns with the digital banking licence framework Bank Negara Malaysia set up to widen access to basic financial tools.

What’s Coming Next From Ryt?

The bank has flagged two additions in the coming weeks. The first is Ryt PayLater on Card, which will let you choose whether to pay in full or defer a payment using the same Ryt Card at checkout. The second is Ryt Invest, which will let you start investing directly within the app.

You can find out more about Ryt Bank and its upcoming features at www.rytbank.my.

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