Ryt Bank Records 1.5 Million Customers One Year Into Service, Announces Ryt Groups Feature

It is officially a full year since Ryt Bank begun its operations, and the YTL-owned (AI-powered) digital bank has marked its first anniversary by announcing it now has 1.5 million customer using its service. In particular, its namesake app became Malaysia’s most downloaded finance app across both the Apple App Store and Google Play earlier this year.

Ryt Bank Celebrates 1st Anniversary

Ryt Bank prides itself in its AI capabilities, for which its sister company YTL AI Labs provides the backbone for the Ryt AI chatbot that offers services in English, Malay, and Chinese languages. Users has tapped into Ryt AI more than 10 million times in its first year for everyday banking tasks, the company claimed.

The backbone of Ryt AI is Malaysia’s sovereign large language model, ILMU, developed by YTL AI Labs; over the past year, the bank stated the AI assistant has expanded its capabilities to read receipts, images, and attachments, handle multiple requests within a single conversation, and complete a wider range of tasks across the app compared to its initial launch.

Ryt Bank Records 1.5 Million Customers One Year Into Service, Announces Ryt Groups Feature

Ryt Bank is also introducing a new feature on this occasion: Ryt Groups is designed to simplify splitting and settling shared bills, which you most likely do after dining with friends – customers can scan a receipt, after which Ryt AI itemizes purchases, applies applicable SST and service charges, and calculates individual amounts owed, with payments settled directly within the app.

Ryt Bank Records 1.5 Million Customers One Year Into Service, Announces Ryt Groups Feature - 20 — Ryt Bank Records 1.5 Million Customers One Year Into Service, Announces Ryt Groups Feature

To promote adoption, Ryt is offering customers who settle a Ryt Groups expense during the launch period a foodpanda voucher worth up to RM15. Throughout the anniversary campaign, customers can also earn RM100, or a guaranteed RM5, for successful referrals bringing new users onto the platform.

Ryt Bank stated further product launches, experiences, and rewards will roll out weekly throughout August, including the return of its Limited Edition Ryt Card and an additional feature the bank described as one of its most requested.

Pokdepinion: No escaping taxes when splitting bills next time!