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BBVA Researches Potential ‘Quantum Advantage’ Across Six Use Cases in Financial Industry

By IQT News posted 21 Jul 2020

(BBVA) BBVA is following six lines or research by exploring the benefits of using quantum computing in the financial sector. BBVA is working hand in hand with Spain’s Senior Council for Scientific Research (CSIC), Accenture, Fujitsu, Zapata Computing, and Multiverse.
The BBVA Research and Patent team has shared the results of a project that ran over the course of last year and which aimed to study the applications of quantum computing in the financial sector. Specifically, they disclosed the results of BBVA-sponsored proofs of concepts (PoCs) that followed six lines of investigation with the objective of identifying those use cases where quantum technology delivers a greater advantage over traditional computing techniques. Lines of research and proofs of concepts:
1.Development of quantum algorithms (CSIC)
2. Static Portfolio Optimization (Fujitsu)
3. Dynamic portfolio optimization
4. Credit scoring process optimization
5. Currency arbitrage optimization
6. Derivative valuations and adjustments
The PoCs also assessed which solutions available on the market could be used to this end.
Quantum computing has the potential to solve problems that classical computers cannot. In the world of finance, these traits are particularly useful when running optimization calculations or simulating financial scenarios, calculations that have to factor in numerous variables and dimensions in order to create accurate models.

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