Quantum Computing Inc. (QCI) (NASDAQ: QUBT), a key player focused on accessible full stack quantum solutions, announced that it will work together with Rabobank, which claims to be one of the world’s largest banks in its sectors, “for a project to demonstrate the application of its photonic quantum information technologies, including the Dirac 1 entropy quantum computing (EQC) system, to fraud detection.”
Fraudulent card transactions “cost the banking industry billions of dollars annually as cybercriminals continue using increasingly sophisticated techniques to try to thwart online security measures.”
Forward-thinking banks are “investigating advanced quantum computing technologies as a possible solution.” QCI’s EQC system and its application to machine learning processes “have demonstrated the potential to improve fraud detection techniques through faster computation and increased accuracy.”
Rabobank is “adding QCI to its arsenal of existing fraud detection techniques and solutions because it is committed to protecting its customers against costly fraudulent transactions.”
QCI is a quantum computing industry participant and is focused on “enabling real-world business applications, and the capabilities and availability of its EQC system make it a perfect fit for addressing today’s advanced, unseen threats.”
Robert Liscouski, CEO of QCI, said:
“Payment fraud is an enormous problem for the banking industry, costing banks and consumers billions of dollars a year. We are very excited to collaborate with Rabobank in demonstrating the application of entropy quantum computing to this important problem. QCI’s EQC technologies provide the stability and scale necessary to address business-relevant problems. Rabobank’s forward-looking perspective as an innovator in the banking sector makes for an ideal partnership as we work toward developing and implementing new quantum solutions for the financial sector.”
Dirac 1, QCI’s first commercially available EQC system, “solves real world business problems using quantum photonics effects.”
This advanced proprietary technology “supports full stack quantum solutions that enable customers to run complex optimization problems on a stable, room temperature, desktop platform.”
The system is “available through an online subscription service offered directly by QCI.”
