IBM, along with Crédit Mutuel Alliance Fédérale and its technological subsidiary Euro-Information, recently announced their sustained investment in quantum computing.
Crédit Mutuel Alliance Fédérale and Euro-Information were the first organizations in France to join the IBM Quantum Network, a June 14 IBM press release said. Following a fruitful initial phase, the businesses have determined certain use cases, among the many financial services-related areas of interest, for the collaboration's upcoming scaling phase. The use cases include customer experience research, risk management, and fraud management. Additionally, the use phase will investigate potential avenues for future enhancements to the consumer and employee experience at Crédit Mutuel Alliance Fédérale as a result of quantum computing.
“Crédit Mutuel is making rapid progress in how to apply quantum technology to enhance financial services,” Sebastian Krause, IBM’s senior vice president and chief revenue officer, said in the release. “We’re excited to collaborate with them on the ‘scaling’ phase as they expand their activities with an aim toward developing concrete applications that could improve their customers’ experience and transform how the industry manages risk and fraud.”
Nicolas Théry, president of Crédit Mutuel Alliance Fédérale; and Frantz Rublé, president of Euro-Information; also commented on the continuing partnership.
“Because banking and insurance are technological industries, it is essential to constantly innovate to master the technologies of the future, and to ensure that they help guarantee sovereignty,” they jointly said in the release. “Our historic collaboration with IBM is part of this dynamic. Back in 2016, we were among the first financial institutions to apply artificial intelligence and its industrialization. Our ambition for quantum computing is similar: to explore, then industrialize, in order to further transform the banking and insurance businesses, all with the underlying goal of also keeping our customers’ information secure.”
The three companies will now begin working on prototyping use cases for risk management, fraud management, and enhancing the customer experience. During this phase, Euro-Information will be able to use IBM quantum technology systems with 127-qubit IBM Eagle and 433-qubit IBM Osprey processors, IBM Qiskit Runtime Primitives functions, error-mitigating strategies and circuit-knitting capabilities.
