D-Wave engineer at the control cabinet of the 5000+ qubit Advantage quantum computer, the engine behind hybrid quantum optimization applications, like the CaixaBank portfolio and hedge fund applications
Valencia, Burnaby (Canadá), 03/03/2022
Summary:
– Leading bank in Spain becomes the first in the world to apply quantum computing in investment portfolio hedging calculation in the insurance sector.
– With quantum computing, CaixaBank has seen an up to 90% decrease in time-to-solution for investment portfolio hedging and portfolio optimization, among other business benefits.
CaixaBank, the leading financial group in Spain, and D-Wave Systems Inc., a global leader in quantum computing systems, software, and services, and the only provider building both annealing and gate-model quantum computers, today announced the business results for two significant financial quantum hybrid computing applications for investment portfolio optimization and investment hedging calculation. The quantum hybrid applications have significantly decreased compute time to solve complex financial problems, improving investment portfolio optimization, increasing a bond portfolio internal rate of return (IRR), and minimizing the capital needed for hedging operations, as a result of their collaboration.