ETT INKS US$1.2 BLN DEAL WITH KNIGHTSBRIDGE ADVANCING DIGITISATION, FINTECH SOLUTIONS

KUALA LUMPUR, March 5 (Bernama) -- Economic Transformation Technologies “ETT | iByond” (ETT) and Knightsbridge Group have sealed a monumental deal projected to be worth as much as US$1.2 billion, marking a significant stride in advancing digitisation and fintech solutions globally. (US$1=RM4.72)

The collaboration signifies a pivotal moment in harnessing cutting-edge technologies to drive innovation and transformation across industries, according to ETT in a statement.

"This partnership with Knightsbridge emphasises ETT's dedication to being proactive at the forefront of digital innovation and reinforcing its position to global growth and the rapidly evolving Asian market," said ETT Chairman and Chief Executive Officer, Christopher Condon.

Meanwhile, Knightsbridge Group Managing Director, Issaree Suwunnavid said he is delighted with the joint venture and it fills him with immense pride to establish Thailand as the home of this transformative technology, empowering businesses and individuals across the region with innovative financial services.

Under the agreement, both companies will join forces to spearhead digital initiatives and revolutionise financial technology offerings.

Leveraging iByond's expertise in the burgeoning artificial intelligence (AI) landscape and Knightsbridge's global network and resources, the partnership aims to deliver unparalleled solutions tailored to meet the evolving needs of businesses and consumers worldwide.

This joint venture will leverage ETT’s state-of-the-art data management and AI infrastructure and Knightsbridge Group's advanced market technologies to deliver a comprehensive fintech platform that offers unparalleled efficiency, security, and scalability.

ETT Asia Division has executed a five year software services and licensing agreement with Knightsbridge that is valued at US$683 million to ETT and over US$500 million to Knightsbridge, in which this partnership aims to revolutionise the financial services industry through cutting-edge digital transformation solutions.

-- BERNAMA