Quantum Computing Companies

Caixa Bank steps up its move into Quantum Computing for credit risk profiles

April 18, 2020

One of the business areas that we often see exploring the benefits of Quantum Computing is Finance. The Spanish banking giant CaixaBank has now developed a credit risk classification model utilising quantum computing.

“For CaixaBank, it is essential to invest in exploring the potential of quantum computing for various areas of the financial sector, although the first commercial applications may take a while.”

CaixaBank
One of the business areas that we see exploring the benefits of Quantum Computing is Finance. The Spanish banking giant CaixaBank has now developed a credit risk classification model utilising quantum computing.

For their credit risk assessment, CaixaBank has run a series of real tests to look at the applications of quantum computing in their financial offering. Using a data set comprising a thousand users with similar profiles to its existing customers. They then used hybrid computing framework which combined quantum and classical computing to compute and classify the risk profiles of the users. They have used the open-source Qiskit framework. Previously the bank has announced they are exploring Quantum Computing and including it in its R&D efforts.

We are still waiting to know the full results of the study. Stay posted at QZ.