Two financial technology firms in the private banking space have formed a partnership that will extend their business.

International Private Banking Systems, which provides software for private banks in regions such as the Americas and the Caribbean, has formed a partnership with eShore, an IT service provider to offshore international banks and financial services bodies.

The agreement will see Cayman Islands-based eShore market and sell the IPBS system in a number of international offshore financial centres where it has an established presence, according to a statement from IPBS late last week.

eShore provided the technical infrastructure and implementation services when IPBS wanted to provide a cloud hosted version of its private banking system. The success of that partnership has led to the new agreement, the firms said.

The agreement will cover jurisdictions including Antigua, Bahamas, Barbados, Bermuda, British Virgin Islands, Cayman, Jamaica, Trinidad, Channel Islands, Mauritius, Turks and Caicos and St Lucia.