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CaixaBank Combines Quantum and Conventional Computing to Classify Credit Risk Profiles

By IQT News posted 17 Apr 2020

(Finextra.com) CaixaBank is stepping up its experimental application of quantum computing in financial services, developing a machine learning algorithm to classify customers according to their credit risk.
The Spanish bank last year reported on its tests of IBM’s Framework Opensource Qiskit, to implement a quantum algorithm to assess the financial risk of a mortgage portfolio and treasury bills portfolio specifically created for the project using real data.
The bank has applied a hybrid computing framework — which combines quantum computing and conventional computing in different phases of the calculation process — to classify credit risk profiles. To do this, CaixaBank used a public data set corresponding to 1,000 artificial users, with a similar profile to existing customers, but with information configured specifically for the test.

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