News & Reviews:   digital bank

Ryt Bank has announced a major milestone, surpassing 1.2 million users just over seven months after its launch in August 2025. The rapid growth positions the platform as one of Malaysia’s fastest-growing digital banks, reflecting strong adoption among users seeking simpler and more flexible financial services.

After the strong response to its earlier Chinese New Year initiative, Ryt Bank has launched a new Ramadan and Hari Raya campaign. Building on that momentum, the digital bank is now introducing a larger Duit Raya referral initiative aimed at rewarding both existing and new users.

Today, we have seen three digital banks operating in Malaysia, and the remaining two that have received licenses have yet to start operations. Touching on this, the consortium joined by Sea Ltd and also YTL Digital Capital Sdn Bhd, emphasized that they will introduce their digital bank by the end of this year 2024.

What is a digital bank and how does it differ from regular ones? Read on for some details on what you need to know about digital banks.

Many are already familiar with the Boost digital wallet, which was very popular once upon a time. Now, in addition to the digital wallet, the party behind it also started its own digital bank, called Boost Bank. This makes Boost Bank the third digital bank in Malaysia after GXBank and AEON Bank.

AEON launched AEON Bank (M) Berhad, the first Shariah-compliant digital bank in Malaysia that offers various personal digital banking services and various benefits for AEON customers. Accordingly. you can now download the digital bank application on the Apple App Store or Google Play Store.

The e-banking scene in Malaysia is about to get more interesting. Today, GX Bank Berhad officially launched its app, the GXBank app. That said, what should you know about it?

Digital banking is something Malaysia is looking into and many companies are hoping to get the licence to operate one in Malaysia. Thus far, the companies that are interested seem to include Grab, Razer, AirAsia, Axiata, CIMB, Ant Financial, and possibly Maybank.