Fujitsu & The Basque Start-up Quantum Mads Collaborate To Develop a Sophisticated Quantum Solution For The Financial Industry

 

  • The two companies will work together under Fujitsu’s quantum computing inspired Digital Annealer platform to solve optimization problems in the financial and insurance environments.
  • Specifically, they aim to create new paradigms on two Quantum Mads solutions: Q-ALLOCATE on portfolio mapping issues and Q-CRYPTO in the area of crypto-currencies.
  • They will form a mixed team to promote the development of disruptive and innovative specific algorithms that will be provided as a cloud service.

Madrid, December 2020: Fujitsu and the Basque quantum computing start up, Quantum Mads, have reached a collaboration agreement to develop sophisticated quantum solutions for the financial industry, private investors and the insurance sector. Specifically, they will work under Fujitsu’s quantum-inspired Digital Annealer platform for solving optimisation problems, developing innovative algorithms, which will be made available to companies as a cloud service and with the collaboration of the Japanese multinational’s community of experts.

Fujitsu’s Digital Annealer is the world’s first quantum-inspired technology. An architecture that unlocks new logic to solve complex business problems, finding solutions quickly and efficiently. For example, Quantum Mads is dedicated to the optimization of processes and the creation of financial software under quantum computing. Both will approach combinatorial optimization projects and opportunities, creating cutting-edge solutions to add value and designing new paradigms around quantum finance.

For Carlos Cordero, Fujitsu’s CTO, “it is wonderful to be able to work on disruptive projects for the financial and insurance markets with a company like Quantum Mads, which has two exceptional values: sophisticated technical knowledge in the development of quantum solutions for the banking industry and a modern vision of today’s needs. Specifically, we will develop unique algorithms under our quantum-inspired Digital Annealer technology, with which we hope to revolutionize the market, providing solutions in the field of product customization and scenario simulation, among others, and which, instead of requiring weeks of work, we will be able to solve in seconds. Without forgetting the crypto-currency market, which is growing unstoppably and where investors need to balance information in order to choose the best in the market”.

Eriz Zarate, CEO of Quantum Mads, says “The experience and process of collaboration with Fujitsu is excellent. We have been able to bring together talent and resources to create applications that will go into production in the short term. For us, it is extremely important to have partners who are focused on creating realistic projects and not just proofs of concept; that is what we are going to achieve in this case in two areas such as asset management and in the crypto-currencies environment, where DA technology can disrupt current standards. Our aim is to optimise the quality of the solutions and the time to market of the products to provide unique value to the customer, thus laying a robust foundation for the future profile of our company”.

 A work in two areas: portfolio assignment and the world of crypto-currencies

Quantum Mads has two products on which both companies will develop their line of activities. The first is Q-ALLOCATE, a hybrid quantum-classical algorithm for generating portfolio allocation weights. And Q-CRYPTO, for the crypto-currencies environment.

Q-ALLOCATE compiles the best features and different portfolio management techniques to deliver solid, risk-adjusted returns. In addition, it allows for portfolio customisation, which leads to dynamic asset allocation and provides a better view of market performance. Furthermore, Q-CRYPTO drastically reduces the time needed to acquire crypto-currencies, both in terms of resources and trading locations.

These are the two areas on which both companies will initially work, creating monetizable quantum algorithms on a cloud platform and jointly developing disruptive and innovative algorithms for complex financial systems that seek to provide cutting-edge solutions to add value to their customers.

About Quantum Mads

Quantum Mads aims to dissect both theoretically and practically the intrinsic dynamics of complex financial systems, creating solutions that will disrupt the current state of the art modelling techniques and allowing to have unique insights to add disruptive value to the client’s solutions.

About Fujitsu

Fujitsu is the leading Japanese information and communication technology (ICT) company, offering a full range of technology products, solutions, and services. Approximately 132,000 Fujitsu people support customers in more than 100 countries. We use our experience and the power of ICT to shape the future of society with our customers.

 

 

James Dargan
James Dargan
James Dargan is a contributor at The Quantum Daily. His focus is on the QC startup ecosystem and he writes articles on the space that have a tone accessible to the average reader

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