Mastercard, D-Wave Computing Solutions Team

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MasterCard and D-Wave systems are collaborating to accelerate the adoption of quantum computing solutions and working on the development of quantum hybrid applications across a wide range of financial services sectors.

According to a press release on Monday (July 18).

See Also: FIs Prepare for Quantum Leap From ’70s Data Security

1999 headquartered in Burnaby, British Columbia, Canada D-Wave systems is one of the leading companies in the development and delivery of quantum computing systems, software and services and is the world’s first commercial provider of quantum computing. In cooperation with MasterCardcompanies are striving to research and develop quantum computing applications that will transform the customer experience.

Read more: Alphabet’s Quantum Tech Group sandbox AQ goes solo

“We announce the next wave of computers. Just like the development of the personal computer, the advent of the internet and the proliferation of smartphones and voice assistants, we believe that quantum will have far-reaching and cross-industry implications, particularly in the financial services sector,” he said AlanBarazCEO of D Wave.

“D-Wave and Mastercard share a vision to harness the power of technology to positively impact businesses and society. This alliance supports that vision by delivering quantum innovations that will address increasingly complex application problems such as optimized loyalty programs, fraud management and anti-money laundering in financial services, ultimately unlocking more value for customers,” added Baratz.

See Also: JPMorgan Announces “Viable” Quantum Secure Blockchain Network

Powered by Mastercard’s network, the alliance will leverage D-Wave’s glow quantum computers and quantum hybrid solvers via the quantum cloud service Leap™ for secure, real-time access to quantum applications.

“People expect hyper-personalized experiences. Quantum computing’s unique ability to analyze a large number of potential combinations can provide optimal solutions that improve efficiency and provide choices,” he said Ken Moore, Chief Innovation Officer at Mastercard. “Our collaboration with D-Wave will explore the endless uses of quantum computing for practical, real-world financial services applications.”

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