CTOS launches cyber security rating service at SME Biz Day

CTOS Data Systems Sdn Bhd, Malaysia’s leading credit reporting agency, saw a remarkable turnout of over 1,500 attendees from small and medium enterprises (SMEs) across Malaysia at its annual business networking event, ‘CTOS SME Biz Day 2024′. This year’s attendance marked a significant increase of 50% compared to the previous year, underscoring SMEs’ heightened interest in navigating and thriving in a rapidly evolving economic landscape.

The one-day conference, held under the theme ‘Future-Forward SMEs: Grow, Transform, Innovate’, featured a diverse lineup of industry experts and thought leaders. Representatives from key entities such as SME Corporation Malaysia, MATRADE, and RAM Rating Services Berhad shared valuable insights on leveraging digital transformation, fostering resilience, and capitalizing on growth opportunities amidst economic uncertainties.

Empowering SMEs Amidst Economic Challenges

Speaking at the event, Erick Hamburger, Group CEO of CTOS Digital Berhad, emphasized the crucial role of credit accessibility in sustaining SME growth amidst prevailing economic challenges. “Admist this blue-sky scenario, SMEs face multiple challenges such as rapid technological advancements, inflationary pressures, and exchange rate fluctuations, which could impact financing conditions including the ease of credit,” Hamburger noted. “CTOS aims to empower businesses to gain access to credit, to provide a clearer pathway to a better, sustainable future.”

Participants gained valuable perspectives on Malaysia’s economic outlook, with the RAM-CTOS Business Confidence Index (BCI) reaching 53.4 points in Q1 2024, reflecting SMEs’ positive sentiments towards business expansion, hiring, and investment.

Enhancing Cyber Resilience

In a strategic move aimed at bolstering SMEs’ cyber resilience, CTOS announced the soft launch of its new cyber security rating services during the event. Leveraging its expertise in credit assessment and risk management, the new service provides SMEs with comprehensive insights into their cyber risk profiles. This initiative is designed to help SMEs mitigate cyber threats effectively and ensure compliance with evolving regulatory standards.

The launch complements CTOS’ existing suite of services tailored to SMEs, including the CTOS Credit Manager and CTOS Verified. The CTOS Verified, developed in collaboration with airasia academy, enables SMEs to enhance their online credibility and transparency, thereby attracting more business opportunities. Meanwhile, the CTOS Credit Manager offers a robust platform for SMEs to manage customer information and minimize credit risks, essential for maintaining operational stability in dynamic market conditions.

CTOS‘ commitment to supporting SMEs extends beyond financial empowerment to fostering a resilient business environment amidst digital transformation. As Malaysia’s SME sector navigates the complexities of an evolving economy, CTOS remains dedicated to equipping businesses with the tools and insights necessary to thrive.