CapBay, TrackerHero Sign MoU To Strengthen Digitalisation Of SMEs In Security Services

PUTRAJAYA, Oct 1 (Bernama) -- Bay Group Holdings Sdn Bhd (CapBay) and Ultrack Technology Sdn Bhd (TrackerHero) have signed a memorandum of understanding (MOU) to accelerate digital adoption and the growth of small and medium enterprises (SMEs) in the security services sector.

This inaugural collaboration combines fintech innovation with security technology to support over 1,300 licensed security companies.

TrackerHero, a provider of security workforce management solutions, offers access to workforce management technology without any upfront cost, while CapBay, a local supply chain financing and peer-to-peer (P2P) financing platform provider, allocates RM200 million to eliminate financial barriers to the adoption of this technology.

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Through this MOU, security SMEs will gain access to AI-based patrol systems, real-time operations management, and compliance tools.

Financial support from CapBay enables technology that was previously limited due to high upfront costs to be now utilised to improve operations and enhance competitiveness in securing large government and corporate contracts.

The MOU exchange ceremony during the event - "Digital Transformation for the Security & Services Industry" - was officiated by the political secretary to the Minister of Home Affairs (KDN), Omar Mokhtar A Manap, and witnessed by Mohd Redzuan Affandi Abdul Rahim, the director of SME digitalisation and digital adoption at the Malaysia Digital Economy Corporation (MDEC). The MDEC is a strategic partner in this collaboration in line with the Malaysia Business Digitalisation Initiative (BDI) programme.

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“Digitalisation is crucial in strengthening the national security industry under the oversight of KDN. I commend TrackerHero for leading this transformation, CapBay for providing access to financing, and MDEC for driving the digitalization agenda.

“Collaborations like this empower security industry SMEs to operate more efficiently, maintain compliance, and contribute meaningfully to national security and economic growth,” said Omar Mokhtar in a statement today.

Co-founder and Group CEO of CapBay, Ang Xing Xian, said the collaboration with TrackerHero is not just about financing but also strengthens the backbone of the nation’s economy by enabling SMEs to adopt digitalisation and offer higher-value services.

Co-founder and CEO of TrackerHero, Izzat Hanif, said the collaboration provides SMEs the opportunity to digitalise daily operations without obstacles.

Meanwhile, MDEC CEO Anuar Fariz Fadzil said the collaboration reflects the spirit of the Malaysia Business Digitalisation Initiative, which accelerates digital adoption across industries.

The collaboration is also supported by the Faculty of Artificial Intelligence, Universiti Teknologi Malaysia (UTM), as a strategic research partner of TrackerHero, thereby strengthening the digital ecosystem in the national security sector.

-- BERNAMA