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CaixaBank Uses Hybrid of Conventional, Quantum Computers to Classify Risk


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An artist's representation of quantum computing.

Spain's CaixaBank uses a machine learning algorithm to calculate customer credit risk .

Credit: Computer Weekly

CaixaBank in Spain has created a machine learning algorithm to calculate customer credit risk using quantum computing technology.

The bank will use quantum computers along with conventional computers in a hybrid model, with each used at different points in the calculation of customer credit risk.

Quantum mechanics can be used to process huge data sets, which could enable researchers to quickly solve problems involving different combinations of variables.

The bank used public data corresponding to 1,000 artificial users to demonstrate that "hybrid computing can achieve results comparable to those offered by the conventional solution in less time."

Meanwhile, ABN Amro in the Netherlands is working with Delft University of Technology and the Netherlands Organization for Applied Scientific Research to determine whether quantum key distribution can be used to secure online banking.

From Computer Weekly
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