The Asian division of Economic Transformation Technologies (ETT | iByond) has signed a deal worth $1.2bn with Knightsbridge Group in a move to advance digitisation and fintech solutions across the globe.

The five-year software services and licensing agreement values $683m to ETT and more than $500m to Knightsbridge.

Under the terms of the agreement, ETT | iByond will team up with Knightsbridge to lead digital initiatives and transform financial technology offerings.

By utilising ETT’s advanced data management and artificial intelligence (AI) platform infrastructure and Knightsbridge’s market technologies, the new joint venture (JV) will offer an extensive fintech platform that delivers efficiency, security, and scalability.

According to the parties, the platform will allow financial institutions to optimise operations, improve customer experiences and drive sustainable growth in a dynamic marketplace.

ETT chairman and CEO Christopher Condon said: “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.”

The partnership also aims to provide better solutions customised to meet the changing requirements of businesses and consumers worldwide.

Besides, the collaboration is said to be a major step in Knightsbridge’s expansion strategy and represents its commitment to driving growth in the region.

Knightsbridge Group managing director Issaree Suwunnavid said: “It fills me with immense pride to establish Thailand as the home of this transformative technology, empowering businesses and individuals across the region with innovative financial services.”

Last month, ETT | iByond signed a contract worth $888m with Capstone Management Group to offer global digital transformation to the insurance sector.