Integration enables unprecedented risk modeling for complex financial analysis
Multiverse Computing today announced a partnership with IonQ, the leader in trapped-ion quantum computing, which will enable financial services organizations to model risk more accurately and quickly than ever before using the IonQ Quantum Cloud platform within Singularity, Multiverse’s financial solution.
The partnership combines IonQ, offering the world’s most advanced quantum hardware architecture, with the simplicity and ease-of-use that Multiverse Computing customers have come to rely upon for complex financial modeling. Using this integrated system, financial institutions can model real-life financial problems such as Fair Price calculations, portfolio creation and optimization, ETF replication, risk valuation, and many other simulations with unprecedented speed and accuracy.
Singularity already allows analysts and other users to model problems directly within spreadsheets and other familiar tools. With the new integration, financial institutions can now take advantage of IonQ’s industry-leading hardware without ever writing a line of code allowing them to leverage the power of quantum computing in everyday financial simulations.
The integration will dramatically increase the accessibility of quantum computing for financial professionals, including those without technical backgrounds or understanding of how quantum computers operate.
“We are excited to announce IonQ as a preferred quantum compute partner for our Singularity platform,” said Enrique Lizaso, CEO of Multiverse Computing. “Together, our two platforms will allow us to develop joint solutions to interesting, real-life problems in finance. Singularity will put the power of cutting-edge quantum computing in the hands of financial professionals quickly and easily, without the need for them to learn quantum mechanics. Contrary to conventional wisdom that beneficial applications are years away, quantum computing in finance is here, and it means ‘business.'”
“Financial simulations are central to the global economy, and spreadsheets are the de facto tool for these analyses,” said Peter Chapman, CEO of IonQ. “This integration with Multiverse brings the world’s most powerful quantum hardware to the native application for finance professionals so that they don’t need to be technical to leverage our computers. It is an important early step towards bringing quantum computing into everyday workflows.”
The application of quantum computing in the financial industry is accelerating rapidly, driven by the potential for quantum to deliver competitive advantages and significant value. Together, IonQ and Multiverse Computing will help their clients to use quantum solutions specifically designed to address critical problems whose solutions were previously out of reach.
About Multiverse Computing
Multiverse Computing is a leading quantum software company that applies quantum and quantum-inspired solutions to tackle complex problems in finance to deliver value today and enable a more resilient and prosperous economy. The company’s expertise in quantum control and computational methods as well as finance means it can secure maximum results from current quantum devices. Its flagship product, Singularity, allows financial professionals to leverage quantum computing with common software tools. The company is headquartered in San Sebastian, Spain with offices in Toronto, Canada and Paris.