BBVA, a Spanish financial services corporation, has introduced the results of six proofs of concept (PoC) trials that leverage quantum computing for several different potential business use cases.
BBVA worked cooperatively with Accenture, Fujitsu, Spain’s Senior Council for Scientific Research (CSIC), Multiverse, and Zapata Computing on developing various quantum computing algorithms. BBVA also worked with these service providers on static and dynamic portfolio optimization methods, currency arbitrage, credit scoring and rating systems, and derivatives valuations.
Specifically, the BBVA team disclosed the results of proofs of concept (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
BBVA started its Quantum Computing projects around two years ago. The financial services giant has managed to bring together a team of professionals who are focused on quantum development.
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