D-Wave, Mastercard Take “Quantum Leap” into Future of Financial Services

D-Wave Systems Inc., which claims to be a leader in quantum computing systems, software, and services, and the “only” company building both quantum annealing and gate-based quantum computers, and Mastercard (NYSE: MA) announced a multi-year strategic alliance “to champion the acceleration and adoption of quantum computing solutions.”

Mastercard and D-Wave will “collaborate on the research and development of quantum-hybrid applications in areas such as consumer loyalty and rewards, cross-border settlement and fraud management.”

The collaboration will “use D-Wave’s annealing quantum computers and quantum hybrid solvers through the Leap™ quantum cloud service to deliver real-time access to quantum applications safely and securely powered by Mastercard’s network.”

Alan Baratz, CEO of D-Wave, said:

“We are heralding in the next wave of computing. Just like the creation of the PC, the emergence of the internet and the proliferation of smartphones and voice assistants, it is our belief that quantum will have far-reaching and industry-disrupting impact, especially in the financial services sector.”

Baratz added:

“D-Wave and Mastercard have a shared vision of harnessing the power of technology to positively affect business and society. This alliance supports that vision by delivering quantum innovation that will tackle increasingly complex problem sets across applications like optimized loyalty programs, fraud management and anti-money laundering in financial services and, ultimately, unlock more value for customers.”

Ken Moore, Chief Innovation Officer at Mastercard, remarked:

“People expect hyper-personalized experiences. Quantum computing’s unique ability to analyze huge numbers of potential combinations can deliver optimal solutions that will improve efficiency and provide choice. Our work with D-Wave will explore the endless applications of quantum computing for practical, real-world financial services applications.”

As noted in the update, D-Wave claims to be “a leader in the development and delivery of quantum computing systems, software, and services, the world’s first commercial supplier of quantum computers and the only company building both annealing quantum computers and gate-model quantum computers.”

Their mission is “to unlock the power of quantum computing for business and society, today.””

They do this by “delivering customer value with practical quantum applications for problems as diverse as logistics, artificial intelligence, materials sciences, drug discovery, scheduling, cybersecurity, fault detection, and financial modeling.”

D-Wave’s systems are “being used by some of the world’s most advanced organizations, including NEC Corporation, Volkswagen, DENSO, Lockheed Martin, University of Southern California, Forschungszentrum Jülich and Los Alamos National Laboratory.”

With headquarters near Vancouver, Canada, D-Wave’s US operations are “based in Palo Alto, CA. D-Wave has a blue-chip investor base that includes PSP Investments, Goldman Sachs, BDC Capital, NEC Corp., Aegis Group Partners, and In-Q-Tel.”

For more details on this update, check here.

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