In Brief: Crédit Agricole advances on quantum bank

Many banks are now following the practice of integrating the latest quantum technologies into their processes in order to optimize their models. The trend is internationalbut in France, in addition Mutual Credit, Crédit Agricole CIB has just announced its rapprochement with a European player in quantum computing, Quandela.

Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB) has recently formalized its joint work with Quandela, a quantum computing company that designs, builds and provides state-of-the-art quantum solutions for industry.

Applied to the banking sector, this technology will now have to enable Crédit Agricole CIB to offer an optimized quantum solution for a specific financial activity.

Crédit Agricole CIB has worked with Quandela to develop an algorithm capable of improving the performance of credit risk prediction models. The first results of the implementation of this common model are presented by both partners as significant. It would thus confirm the applicability of a classical/quantum algorithm in the prediction of credit default risks and more broadly in portfolio optimization.

A confirmed interest

The Crédit Agricole Group's interest in quantum technologies is not new. Already in May 2024, the bank announced Join the Maison Quantique to create new synergies between the emerging quantum technology and financial services sectors.

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