April 27, 2023 – 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.