April 27, 2023 โ Small and midsize financial institutions should ask the following questions about quantum computing: What can quantum be used for, how soon will it be used within the financial services industry, and what impact, if any, should this have on the IT roadmap? From a practical standpoint, financial institutions should consider long- and short-term strategic and tactical methods to ensure they reap the benefits of a quantum-ready roadmap in advance of its maturity/expiration.
This report offers an overview of quantum theory, applications in financial services, recommendations for banks incorporating quantum strategy into their five-year IT roadmaps, and 29 quantum vendor profiles. It is based on Aite-Novarica Group research from 2021 to 2023 as well as external articles.
Clients of Aite-Novarica Group’s Community Banking service can download this report.
This report mentions 1QBbt, Amazon, CQC, D-Wave Systems, Google, IBM, IDQ, ID Quantique, IonQ, ISARA, Multiverse Computing, Microsoft, Mphasis, Nvidia, PASQAL, PlanQK, PQShield, Post-Quantum, QCQ, QNu Labs, QC Ware, Quantinuum, Quantum Circuits Inc., Quantum Xchange, QuEra, QuintessenceLabs, QuantiCore Security, Rigetti Computing, Strangeworks, Xanadu, and Zapata.
About the Author
Mitch Wein
Mitch Wein is an Executive Principal in the Insurance Practice at Datos Insights. He has expertise in international IT leadership and transformation as well as technology strategyย for banking, insurance (life, annuities, personal, commercial, specialty), and wealth management. Prior to joining Datos Insights, Mitch served in senior technology management positions at numerous financial institutions.ย At Bankers Trust (now Deutsche Bank), he automated...