D-Wave Quantum Inc. and Nasdaq Verafin have entered into a collaboration to evaluate how quantum computing can improve financial crime detection. The partnership will begin with a proof-of-concept (PoC) aimed at exploring the use of D-Wave's quantum-hybrid technology to enhance predictive models for identifying fraud, scams, money laundering, and other suspicious financial activities.
The initiative reflects the growing interest in applying quantum computing to financial services, where organizations are seeking more advanced technologies to analyze increasingly complex transaction data and strengthen anti-financial crime capabilities.
Quick Intel
D-Wave Quantum Inc. and Nasdaq Verafin have announced an agreement to evaluate the use of quantum computing for financial crime detection. The collaboration will initially focus on developing a proof-of-concept designed to assess whether quantum-hybrid technology can improve the identification of suspicious financial activities.
If successful, the project could expand into pilot applications targeting critical anti-financial crime use cases, including fraud detection, scam prevention, and anti-money laundering (AML) initiatives.
As part of the collaboration, Nasdaq Verafin will explore D-Wave's annealing quantum computing technology to identify complex relationships within financial datasets that may be difficult for traditional analytical methods to detect.
The proof-of-concept will evaluate hundreds of potential data signals, including account activity, transaction behavior, and counterparty networks, to determine whether quantum computing can enhance predictive models for detecting unusual account behavior and emerging financial crime patterns.
The initiative aims to determine how quantum-enhanced machine learning can improve financial institutions' ability to identify suspicious activities while reducing missed detection opportunities.
Financial institutions continue to face increasingly sophisticated fraud schemes and money laundering activities, creating demand for advanced technologies capable of processing large volumes of interconnected data.
By combining D-Wave's quantum-hybrid computing capabilities with Nasdaq Verafin's financial crime management expertise, the collaboration seeks to explore new approaches for improving predictive analytics and supporting more effective financial crime prevention strategies.
"This agreement with Nasdaq Verafin provides an important opportunity to explore quantum computing’s potential in addressing some of the financial services sector’s most complex problems," said Dr. Alan Baratz, CEO of D-Wave. "By applying D-Wave’s quantum-hybrid technology to machine learning and other application development efforts, Nasdaq Verafin is reinforcing its role as a technology-forward organization helping shape the future of financial services innovation."
The companies expect the proof-of-concept to provide insights into how quantum computing can contribute to next-generation fraud detection and AML technologies while laying the groundwork for future commercial applications.
The collaboration highlights the expanding role of quantum computing in enterprise applications beyond scientific research. As financial institutions continue investing in AI and advanced analytics, quantum technologies are emerging as a potential tool for solving complex optimization and pattern recognition challenges that conventional computing approaches may struggle to address.
Through this initiative, D-Wave and Nasdaq Verafin aim to evaluate whether quantum-enhanced predictive models can strengthen financial crime detection and support more effective risk management across the financial services industry.
D-Wave is a leader in the development and delivery of quantum computing systems, software, and services. It is the world’s first commercial supplier of quantum computers, and the first and only to offer dual-platform quantum computing products and services, spanning both annealing and gate-model quantum computing technologies. D-Wave’s mission is to help customers realize the value of quantum today through enterprise-grade systems available on-premises and via its Leap™ quantum cloud service, which offers 99.9% availability and uptime. More than 100 organizations across commercial, government and research sectors trust D-Wave to address complex computational challenges using quantum computing. Learn more about realizing the value of quantum computing today and how D-Wave is shaping the quantum-driven industrial and societal advancements of tomorrow: www.dwavequantum.com.
Nasdaq Verafin provides Financial Crime Management Technology solutions for Fraud Detection and Management, AML/CFT Compliance and Management, High Risk Customer Management, Sanctions Screening and Management, and Information Sharing. More than 2,800 financial institutions, representing $13 trillion in collective assets, use Nasdaq Verafin to prevent fraud and strengthen AML/CFT efforts. Visit www.verafin.com to learn more.
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