Ryt Bank marked its first anniversary by announcing more than 1.5 million customers, a figure it says makes it Malaysia’s largest digital bank by customer count just twelve months after its August 2025 public launch. The YTL backed lender also disclosed rapid growth in its AI assistant usage and confirmed new features are coming, though the “largest” claim is measured by self reported customer numbers rather than an independently verified or regulator confirmed ranking.
Key Facts At A Glance
- Ryt Bank reports more than 1.5 million customers as of its one year anniversary in August 2026
- The bank launched to the public in August 2025 and is backed by YTL Power International Berhad and Sea Limited
- User count rose from 1.2 million in April 2026 to over 1.5 million by August 2026, an increase of roughly 300,000 in about four months
- The Ryt Bank app was Malaysia’s most downloaded app across the Apple App Store and Google Play in February 2026, and also ranked first in the finance category that month
- Ryt AI, the bank’s AI assistant, has been used more than 10 million times since launch and runs on ILMU, a Malaysian sovereign large language model built by YTL AI Labs
- Ryt AI supports English, Bahasa Melayu and Chinese, and can process receipts, images and attachments
- Rival GXBank, backed by Grab, crossed 1.4 million customers in May 2026 after launching roughly two years before Ryt Bank
- Malaysia has five licensed digital banks under Bank Negara Malaysia: Ryt Bank, GXBank, Boost Bank, AEON Bank and KAF Digital Bank
- Ryt Bank has introduced a shared expense feature called Ryt Groups and plans to bring back a limited edition Ryt Card
A Fast Climb In User Numbers
Ryt Bank’s customer base has grown quickly since its public debut in August 2025. The bank reported 1.2 million users in April 2026, seven months after launch, and says it added roughly 300,000 more customers over the following four months to pass 1.5 million by its first anniversary. Interim Chief Executive Officer Wilson Soon framed the milestone as validation of the bank’s approach, saying the team behind it is Malaysian from top to bottom and crediting the 1.5 million customers who chose to use the platform.
The AI Angle
A central part of Ryt Bank’s pitch is Ryt AI, a conversational banking assistant built on ILMU, a large language model developed in house by YTL AI Labs. The bank says the assistant has been used more than 10 million times since launch to handle everyday banking tasks, including reading receipts and images and completing multiple requests within a single conversation. The bank has also expanded what Ryt AI can do across the app since its initial release. The tool operates in three languages, English, Bahasa Melayu and Chinese, reflecting Malaysia’s multilingual retail banking market.
Placing The Claim In Context
Ryt Bank’s “largest digital bank” framing is based on its own disclosed customer count rather than a regulator published ranking, and it is worth reading alongside the wider competitive picture. GXBank, backed by Grab, reported crossing 1.4 million customers in May 2026, roughly three months before Ryt Bank’s anniversary announcement, despite having launched about two years earlier. Malaysia licenses five digital banks in total, meaning Ryt Bank’s claim sits within a field that includes Boost Bank, AEON Bank and KAF Digital Bank as well. None of the available reporting includes independently audited or centrally published user figures for the sector, so comparisons rely on each bank’s own disclosures.
What Comes Next
Alongside the anniversary announcement, Ryt Bank confirmed it is bringing back a limited edition Ryt Card and rolling out Ryt Groups, a feature for managing shared expenses such as meals, family trips and household costs. The bank described one additional unnamed feature as among its most requested, without providing further detail or a timeline.