HSBC and Quantinuum Explore Real-World Use Cases of Quantum Computing in Financial Services

Insider Summary

• Quantinuum and HSBC announced that they will embark on a series of exploratory projects to investigate the near and long term benefits of quantum computing for banking.
• This initiative will move beyond proof of concept to focus on multi-year, multi-stage projects.
• Critical Quote: “Our collaboration with HSBC brings together deep expertise in applying quantum computing in a series of critical areas in global finance, such as protecting data and vital assets, managing risk, and creating the first of a kind customer service approach. As we move towards quantum computers that classical computers cannot simulate, customers will benefit from significant value in terms of innovation, knowledge.” — Ilyas Khan, Head of Products at Quantinuum

PRESS RELEASE — Quantinuum, the world’s largest quantum computing company, and HSBC are pleased to announce a series of projects exploring exploiting the short- and long-term advantages of quantum computing for banking with special projects in cybersecurity, fraud detection, and language processing realms.

Philip Intallura, Global Head of Quantum Technologies at HSBC said, “We are excited to begin this partnership with Quantinuum and explore further applications of Quantum technology in the Financial Services sector. Our collaboration gives us a tremendous opportunity to access cutting-edge quantum hardware and take our use cases to truly transformational levels. We look forward to seeing the results of our collaboration and providing long-term value for the bank.”

“Our collaboration with HSBC brings together deep expertise in the application of quantum computing in a series of critical areas in global finance, such as protecting data and vital assets, managing risk and creating first-of-its-kind customer service. approach. As we move towards quantum computers that classical computers cannot simulate, customers will benefit from significant value in terms of innovation, knowledge.” said Ilyas Khan, Chief Product Officer of Quantinuum.

Strengthening Cybersecurity

Initial explorations of the multi-stage collaboration are intended to demonstrate the use of quantum computing hardened cryptographic keys, including combining them uniquely with post-quantum cryptographic algorithms to mitigate current and future cyberthreats. Efforts to strengthen resilience against these advanced cyberthreats are increasingly important as the transition point between the capabilities of classical computers and quantum computers continues to approach.

Quantum Quantum Origin is a state-of-the-art platform that uses the operation of a quantum computer to strengthen cryptographic keys used to protect transactions and identification processes. Quantum Origin builds on existing “classic” cybersecurity infrastructure and is the first commercial product on the market that uses a quantum computer to generate provably unpredictable cryptographic keys that can offer an extra layer of security to protect HSBC’s most valuable data. HSBC and Quantinuum will run Quantum Origin through the HSM provider.

Building Quantum Business Advantage

In the second part of the partnership, HSBC and Quantinuum will research and explore the potential benefits of quantum machine learning (QML) and quantum natural language processing (QNLP) for HSBC’s business. With fraud detection a priority for HSBC, this collaboration will examine advanced QML techniques enhanced by qubit routing techniques and circuit optimization provided by the Quantinuum architecture independent software development platform, TKET.

In addition, HSBC and Quantinuum will explore QNLP, which is a new form of language-based AI that uses a describable model, rather than the “black box” method of the traditional classical big language model. QNLP will be based on training quantum states and processes that encode word meanings. This approach enables native NLP tasks such as answering questions or text matching, which can be valuable in regulated markets dealing with customer data.

Through this research collaboration, HSBC and Quantinuum are positioned to be at the forefront of developing and implementing quantum-based solutions that have the potential to revolutionize the banking industry.

For more information, please visit www.quantinuum.com.