HSBC and Terra Quantum partner to tackle collateral optimisation
08 September 2023 UK, Switzerland
Image: photon_photo
Terra Quantum and HSBC are to collaborate to explore hybrid quantum technologies applications on optimisation challenges.
The project aims to demonstrate the potential for a hybrid quantum solution for optimisation challenges, a widespread and complex suite of issues in financial services such as collateral optimisation.
Existing methods for collateral optimisation primarily rely on linear optimisation solvers, which can falter when confronted with higher complexities.
HSBC and Terra Quantum say they are joining efforts to excel beyond traditional methodologies, aiming to handle high-dimensional optimisation problems and improved scalability.
As quantum technology evolves, HSBC claims the bank is set to explore its potential benefits of increased efficiency, cost reduction and competitive edge.
Vishal Shete, managing director at Terra Quantum UK, explains: “Optimisation of capital is one of the core functions in a bank, quantum technologies have the potential to enhance optimisation solutions across many parts of a financial institution, we look forward to realising the benefits of this in the near term future”.
Steve Suarez, founder and CEO of HorizonX, says: "Together, [Terra Quantum and HSBC], we have explored the ability and readiness of hybrid quantum to take on large scale, business critical problems and create transformational impact."
Markus Pflitsch, CEO and chairman at Terra Quantum, comments: "Working with HSBC allows us to apply our technology to real world use cases at a financial institution. Hybrid quantum algorithms will revolutionise large scale intractable optimisation tasks in the future.”
The project aims to demonstrate the potential for a hybrid quantum solution for optimisation challenges, a widespread and complex suite of issues in financial services such as collateral optimisation.
Existing methods for collateral optimisation primarily rely on linear optimisation solvers, which can falter when confronted with higher complexities.
HSBC and Terra Quantum say they are joining efforts to excel beyond traditional methodologies, aiming to handle high-dimensional optimisation problems and improved scalability.
As quantum technology evolves, HSBC claims the bank is set to explore its potential benefits of increased efficiency, cost reduction and competitive edge.
Vishal Shete, managing director at Terra Quantum UK, explains: “Optimisation of capital is one of the core functions in a bank, quantum technologies have the potential to enhance optimisation solutions across many parts of a financial institution, we look forward to realising the benefits of this in the near term future”.
Steve Suarez, founder and CEO of HorizonX, says: "Together, [Terra Quantum and HSBC], we have explored the ability and readiness of hybrid quantum to take on large scale, business critical problems and create transformational impact."
Markus Pflitsch, CEO and chairman at Terra Quantum, comments: "Working with HSBC allows us to apply our technology to real world use cases at a financial institution. Hybrid quantum algorithms will revolutionise large scale intractable optimisation tasks in the future.”
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