KUALA LUMPUR: Ryt Bank has marked its first anniversary with more than 1.5 million customers, making it Malaysia's largest digital bank within its first year of operations.
The digital bank said that in its first year, customers turned to Ryt AI more than 10 million times to handle their everyday banking.
Ryt Bank interim chief executive officer, Wilson Soon said the bank is the first of its kind to be established in Malaysia, with a fully Malaysian team behind its development.
"We have put Malaysia on the world map for what’s possible when we rethink what a bank can be. But we could not have done it without 1.5 million Malaysians choosing to make Ryt Bank part of their lives," he said in a statement.
It said Ryt AI, which runs on ILMU, Malaysia’s homegrown sovereign large language model, has expanded its capabilities over the past year to read receipts, images and attachments, handle multiple requests in a single conversation and complete more tasks across the banking application.
The bank has also introduced Ryt Groups, a feature that allows users to scan receipts and automatically itemise purchases together with Sales and Service Tax and service charges where applicable, calculate each person’s share and settle payments within the application.
Ryt Bank said the bank would introduce new products, experiences and rewards every week throughout this month, including the return of Ryt Bank’s limited-edition Ryt Card.
Meanwhile, Soon said the bank’s first-year performance had exceeded expectations, noting that the response from Malaysians indicated demand for a different 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 said. - Bernama
