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1QBit Works with NatWest and Fujitsu to Develop New Method of Deciding Complex Portfolio Composition using 1QBit Software
Wednesday, November 7, 2018Company Profile | Follow Company
NatWest can now decide the composition for the bank's £120bn HQLA portfolio faster and more accurately using 1QBit software and the Fujitsu Digital Annealer.
Vancouver, BC, November 7, 2018--(T-Net)--1QBit announced this week that NatWest recently began testing with 1QBit algorithms and the Fujitsu Digital Annealer in order to solve a complex and computationally intensive problem.
The first experiment involved applying this new technology to a common, but highly complex, problem that every UK bank faces: deciding on the right composition for the bank's high quality liquid assets (HQLAs) portfolio.
HQLAs are assets such as cash and bonds that every UK bank must hold, and this calculation must be undertaken regularly. Using 1QBit software and the Fujitsu Digital Annealer, NatWest was able to complete this calculation much more quickly than their previous method and with an even higher degree of accuracy.
Due to the success of this first experiment, NatWest says it now thinks that quantum and quantum-inspired computing could dramatically change the way many processes are undertaken at the bank, and is beginning to look into which other portfolios could be optimized with this technology.
The new method of deciding HQLA portfolio composition is already being implemented by the bank.
For more information on this project, see the article on rbs.com
About 1QBit
1QBit redefines intractable problems by reframing them to achieve superior results using the most effective quantum and classical processors built to date. We work with our partners to build industry applications on our hardware-agnostic platform to produce the best available results today, while continually improving these results through the ability to switch the underlying solver as new releases and hardware architectures are developed.
1QBit's hardware-agnostic platforms and services future proof our partners by enabling their applications to continually improve alongside advancements in both classical and quantum processors. 1QBit partners with Fortune 500 clients and leading hardware providers to solve industry problems in the areas of optimization, simulation, and machine learning.
1QBit's team of researchers, industry specialists, and software developers understand the unique strengths of each type of quantum computing architecture and identify problems within industry that are well suited to benefit from these new approaches to processing. We work with our clients to develop novel approaches to applications using a quantum lens. We build the resulting solutions on top of our hardware-agnostic platform so that the applications improve alongside advances in both classical and quantum computing architectures.
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