D-Wave Quantum and Nasdaq Verafin are working together to evaluate the use of quantum computing to improve financial crime detection.
The collaboration will begin with the development of a proof-of-concept (PoC), with the potential to expand to pilot applications for key anti-financial crime use cases.
The effort will focus on how quantum-hybrid technology may be used to support the development of predictive systems that can identify unusual behavioral patterns associated with fraud, scams, and money laundering.
As part of their agreement, Nasdaq Verafin will explore the use of D-Wave’s annealing quantum computing technology to uncover complex relationships across account activity, transaction patterns, and counterparty networks that conventional approaches may overlook.
The initial PoC will use D-Wave’s technology to analyze hundreds of potential data signals in an effort to strengthen predictive models for detecting unusual account behavior.
“This agreement with Nasdaq Verafin provides an important opportunity to explore quantum computing’s potential in addressing some of the financial services sector’s most complex problems,” said Alan Baratz, CEO of D-Wave.
“By applying D-Wave’s quantum-hybrid technology to machine learning and other application development efforts, Nasdaq Verafin is reinforcing its role as a technology-forward organization helping shape the future of financial services innovation,” said Baratz.
