CME Expands into Digital Finance, Launches CoorB in the Middle East and Africa

With this venture, CME aims to forge a dedicated financial technology hub, bringing a fresh perspective to the banking sector.

Dubai, 1st March 2024: CME, a multinational technology firm with over 40 years of experience in delivering cutting-edge solutions, announces its strategic expansion into digital finance with the launch of CoorB. This new venture marks a significant milestone for CME as it steps into the financial technology sector, leveraging its vast expertise in technology services and solutions.

CoorB builds on CME’s comprehensive engineering, UX, AI, and data science expertise to offer unparalleled end-to-end financial solutions and services. Backed by a robust team of 500 engineers serving 80 million daily users, CoorB is poised to transform legacy financial systems with modern technology, ensuring rapid, user-focused digital advancement without needing a complete overhaul. By overlaying modern tech on top of existing systems, this efficient approach achieves agile digital transformation for governmental organisations, banks, non-banking financial institutions, and mobile network operators.

Wissam Youssef, CEO of CME, said: “Launching CoorB aligns with CME’s vision to pioneer a specialised hub for financial technology innovation. This move signifies our commitment to enhancing the digital finance landscape and enriches our portfolio, integrating seamlessly with our insurance practice to offer a broad spectrum of services tailored to the financial sector’s evolving needs.”

CoorB will operate in principal markets across the Middle East and Africa, including the United Arab Emirates, the Kingdom of Saudi Arabia, and the Arab Republic of Egypt, setting new standards in the fintech industry.