French bank Crédit Agricole experiments with quantum computing
French bank Crédit Agricole partners with Pasqal and Multiverse Computing to experiment with quantum computing. Successful trials in derivatives and credit calculations show potential for improved processes, but highlight resource-intensive nature and long processing times. Quantum neural networks can benefit financial calculations, but require specific algorithmic techniques for speed and memory optimization.
French bank Crédit Agricole announced that it had conducted two successful experiments for derivatives and credit calculations using quantum computing. The bank partnered with French quantum computer manufacturer Pasqal and Spanish firm Multiverse Computing (which works on quantum and quantum-inspired algorithms).
The two experiments, which started in 2021, focused on evaluating the contribution of an algorithmic approach inspired by quantum computing in two areas: the valuation of financial products and the assessment of credit risks. The bank found that quantum neural networks can be beneficial to these types of calculations, but that the technology is too resource-intensive and involves long processing times. However, the technology can be used to optimise speed and memory is specific algorithmic techniques are applied.