PALM BEACH, Fla.–(BUSINESS WIRE)–Mar. 05, 2024
ETT | iByond™ and Knightsbridge Group have sealed a monumental deal projected to be worth as much as $1.2 billion, marking a significant stride in advancing digitization and fintech solutions globally. The collaboration signifies a pivotal moment in harnessing cutting-edge technologies to drive innovation and transformation across industries.
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Christopher Condon | Chairman and CEO of ETT | iByond™ (USA + Asia) (Photo: Business Wire)
Under the agreement, ETT | iByond™ and Knightsbridge Group will join forces to spearhead digital initiatives and revolutionize 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 artificial intelligence infrastructure.
Economic Transformation Technologies “ETT | iByond™” (ETT) Asia Division has executed a five year software services and licensing agreement with Knightsbridge that is valued at $683 million to ETT and over $500 million to Knightsbridge. This partnership aims to revolutionize the financial services industry through cutting-edge digital transformation solutions.
The joint venture will leverage ETT's state-of-the-art, data management and Artificial intelligence (AI) platform infrastructure and Knightsbridge Group's advanced market technologies to deliver a comprehensive fintech platform that offers unparalleled efficiency, security, and scalability. By harnessing the power of artificial intelligence, the platform will enable financial institutions to streamline operations, enhance customer experiences, and drive sustainable growth in today's dynamic marketplace.This collaboration represents a significant milestone in Knightsbridge's expansion strategy and underscores its commitment to driving growth in the region.
The rapid growth of artificial intelligence (AI) and financial technology (fintech) in Asia is reshaping the region's economic landscape at an unprecedented pace. With advancements in AI technology and increasing digitalization across industries, Asia has emerged as a hotbed for innovation and investment in AI and fintech solutions. From pioneering AI-driven financial services to revolutionizing traditional banking and investment practices, Asian countries are harnessing the power of AI and fintech to drive economic growth, improve financial inclusion, and enhance efficiency in financial markets. With supportive regulatory frameworks, vibrant startup ecosystems, and a growing pool of tech talent, Asia is poised to continue leading the global AI and fintech revolution, unlocking new opportunities and driving innovation across sectors.
Christopher Condon, Chairman and CEO of ETT, commented on the partnership, saying, "This partnership with Knightsbridge emphasizes 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."
David Chlapowski, President of the Americas and Emerging Markets, added, “Information presented in a scalable and consumable manner is the new oil and is the fuel of digital innovation. The Interoperability of disparate platforms combined with the learning capabilities of artificial intelligence will provide efficiencies never before possible – until now. I would be so bold to declare that ETT/Knightsbridge FinTech Platform is the glue bringing this all together. Collectively , we are ushering a new era of Web 4.0 – the era where Software, Infrastructure, and Finance all come together at the intersection of enablement and wealth creation and turbocharged by AI."
Issaree Suwunnavid said, “As the Managing Director of Knightsbridge Group, I am delighted to announce our joint venture with ETT, bringing cutting-edge fintech solutions to Asia. 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."
For more information, visit ettworld.com or knightsbridgelaw.com
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