Embedded Files
Perform complex calculations at unprecedented speeds, enhancing risk management, fraud detection, and optimization of financial models with quantum computing
What Problem?
Customers need faster loan approvals and improved experiences. They are concerned about the security of their financial transactions and personal information. With the massive growth of data in the financial industry, banks face challenges in processing and analyzing vast datasets.
What Solution?
Quantum computing's ability to handle large amounts of data can significantly enhance data analysis and decision- making processes. Quantum Computing leverages artificial intelligence (AI) to handle all financial transactions, eliminating the need for current financial systems, such as SWIFT.
Why is it Unique?
Faster Response to Market Changes: More informed decisions and respond rapidly to market changes
Faster Processing: With quantum computing, banks crunch the data in less than three minutes, as compared with 30 hours with a traditional computer.
No More Frauds: With faster access to data and its tracements there will be reduced or no frauds
Real Time Simulations: Real time simulations of data and work leading to faster decisions
Case Study
Mastercard joined J.P. Morgan, Citi in exploring Quantum Banking, to tackle problems in Value at Risk (VAR). The partners will collaborate on the research and development of quantum-hybrid applications, focusing on areas such as loyalty and rewards, cross-border settlement and fraud management. Mastercard has formed a multi-year strategic alliance with quantum computing specialist D-Wave systems.
Page updated
Report abuse