The bank HSBC is exploring quantum computing in order to improve its systems and business.
Indeed, it was recently reported that the bank has started a three-year collaboration with IBM to access the expertise and benefits of quantum computing. It aims to apply quantum computing to pricing and portfolio management, risk and fraud detection and prevention as well as to support its environmental goals.
The decision was made to transform the bank by addressing current challenges and harnessing the potential of this advanced technology for financial services. Quantum computers will then be able to make calculations that their computers cannot do and build a capability within their innovation team to train existing staff and recruit quantum computing experts.
More banks are following the steps of HSBC by investing in this technology and improving their systems.