Commonwealth Bank of Australia joins quantum revolution with QxBranch
QxBranch, the quantum computing and data analytics software company, has created a quantum computing simulator for the Commonwealth Bank of Australia (CBA).
“The tool emulates the functions of future quantum computers, enabling software and algorithm development to proceed in parallel with the race to create breakthrough hardware,” QxBranch says.
The solution is deployed on premise at CBA, but the vendor says it can also run on the cloud.
David Whiteing, the bank’s CIO, states: “CBA has a long history supporting Australian people and communities and this is why we are supporting the research and development of a silicon-based quantum computer.
“Quantum computing brings with it many benefits due to the speed and complexity of problems it can calculate and resolve. By developing a simulated quantum computing environment this allows us to assess the feasibility and performance of applications well before the first silicon-based quantum computer is finished.”