Financiers think quantum computing will improve credit scoring

Fintech Hub of the Bank of Russia and the Russian Quantum Center held a two-month educational intensive on

application of quantum technologies in financialsphere. Over 400 specialists from specialized organizations and students of Russian universities attended a course of lectures on quantum technologies and presented draft solutions for applied problems of the financial market.

Program participants believe that quantum andpost-quantum cryptography will help fight the threat of data leakage and ensure the protection of customer information and bank secrecy from quantum attacks. Recall that these are security threats associated with the use of the power of quantum computers to hack banking infrastructure.

In turn, for quantum computingidentified three promising areas of application: asset management, investment management and optimization of banking services. For example, quantum machine learning solutions can be used to improve the accuracy of credit scoring, automated fraud detection, and financial forecasting.

In addition, participants believe that quantumcalculations can be used to plan the diversification of an investment portfolio, assess its profitability and potential risks, including the prediction of possible crises that will lead to serious problems in the market.

Program "Quantum technologies for financialindustry” is organized by the Fintech Hub of the Bank of Russia and the Russian Quantum Center. In addition to these organizations, representatives of Russian IT companies introduced their solutions and advanced technologies to financiers and students.

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