/retail banking

News and resources on retail banking, consumer finance and reinventing customer experience in finance.
Truist prepares for quantum future

Truist prepares for quantum future

Truist Financial, a top ten US commercial bank, has joined the ranks of financial institutions preparing for a quantum future by joining IBM's Quantum Accelerator programme.

Under the programme, IBM will work with the Truist team to build quantum skills and explore how the technology could benefit their use cases in consumer banking.

Scott Case, chief information officer at Truist, says: “Quantum computing has the potential to transform how we do banking and solve complex problems. IBM is a leader in quantum computing and their collaboration and expertise will be invaluable to ensure we are able to leverage these new technologies to the fullest potential.”

According to IBM’s Institute for Business Value report, The Quantum Decade, financial institutions around the world must be prepared for dramatic changes as a result of the exponential power of quantum computing.

John Duigenan, general manager financial services industry at IBM comments: “Forward-thinking financial institutions around the world are actively exploring real-world application opportunities of quantum computing. Ensuring access to quantum talent, expertise and technology must be a prominent element of any enterprise architecture strategy today.”

IBM is also to join Truist's Innovators in Residence initiative, which brings together tech giant's and startups to explore new and emerging technologies in finance. As part of this commitment, IBM will deploy dedicated teams with subject matter expertise onsite and share knowledge relating to emerging payment technologies, operational resiliency, artificial intelligence, automation, and business process and operations transformation.

Comments: (0)