Kuala lumpur: 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 strategic partnership aims to combine fintech innovation with security technology to support over 1,300 licensed security companies.
According to BERNAMA News Agency, TrackerHero, a provider of security workforce management solutions, is offering access to workforce management technology without any upfront cost. Meanwhile, CapBay, a local supply chain financing and peer-to-peer (P2P) financing platform provider, has committed RM200 million to eliminate financial barriers to the adoption of this technology. The collaboration is poised to provide security SMEs with access to AI-based patrol systems, real-time operations management, and compliance tools.
The financial support from CapBay is set to enable technology that was previously limited due to high upfront costs, thereby improving operations and enhancing competitiveness in securing large government and corporate contracts. The MOU exchange ceremony during the event “Digital Transformation for the Security and Services Industry” was officiated by Omar Mokhtar A Manap, the political secretary to the Minister of Home Affairs (KDN), and witnessed by Mohd Redzuan Affandi Abdul Rahim, the director of SME digitalisation and digital adoption at the Malaysia Digital Economy Corporation (MDEC).
Omar Mokhtar expressed his support for the initiative, stating that digitalisation is crucial for strengthening the national security industry under the oversight of KDN. He commended TrackerHero for leading the transformation, CapBay for providing access to financing, and MDEC for driving the digitalization agenda. He emphasized that collaborations like this empower security industry SMEs to operate more efficiently, maintain compliance, and contribute meaningfully to national security and economic growth.
CapBay’s Co-founder and Group CEO, Ang Xing Xian, highlighted that the collaboration with TrackerHero is not just about financing. It strengthens the backbone of the nation’s economy by enabling SMEs to adopt digitalisation and offer higher-value services. TrackerHero’s Co-founder and CEO, Izzat Hanif, added that the collaboration provides SMEs the opportunity to digitalise daily operations without obstacles.
MDEC CEO Anuar Fariz Fadzil noted that the collaboration reflects the spirit of the Malaysia Business Digitalisation Initiative, which accelerates digital adoption across industries. The partnership 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.