Quantum Computing Inc. to Help Rabobank Fight Fraud with Entropy Quantum Computing
LEESBURG, Va., Dec. 06, 2022 (GLOBE NEWSWIRE) -- Quantum Computing Inc. (QCI) (NASDAQ: QUBT), a leader in accessible full stack quantum solutions, today announced that it will work together with Rabobank, one of the world’s largest banks in its sectors, for a project to demonstrate the application of its photonic quantum information technologies, including the Dirac 1 entropy quantum computing (EQC) system, to fraud detection.
Fraudulent card transactions cost the banking industry billions of dollars annually as cybercriminals continue using increasingly sophisticated techniques to try to thwart online security measures. Forward-thinking banks are investigating advanced quantum computing technologies as a possible solution. QCI’s industry-leading EQC system and its application to machine learning processes have demonstrated the potential to improve fraud detection techniques through faster computation and increased accuracy.
Rabobank is adding QCI to its arsenal of existing fraud detection techniques and solutions because it is committed to protecting its customers against costly fraudulent transactions. QCI is a quantum computing industry leader in enabling real-world business applications, and the capabilities and availability of its EQC system make it a perfect fit for addressing today’s advanced, unseen threats.
“Payment fraud is an enormous problem for the banking industry, costing banks and consumers billions of dollars a year. We are very excited to collaborate with Rabobank in demonstrating the application of entropy quantum computing to this important problem,” said Robert Liscouski, CEO of QCI. “QCI’s EQC technologies provide the stability and scale necessary to address business-relevant problems. Rabobank’s forward-looking perspective as an innovator in the banking sector makes for an ideal partnership as we work toward developing and implementing new quantum solutions for the financial sector.”
Dirac 1, QCI’s first commercially available EQC system, solves real world business problems using quantum photonics effects. This advanced prorietary technology supports full stack quantum solutions that enable customers to run complex optimization problems on a stable, room temperature, desktop platform. The system is available through an online subscription service offered directly by QCI.
For more information about QCI and its full stack quantum solutions, visit www.quantumcomputinginc.com.
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The Company undertakes no obligation to update or revise forward-looking statements to reflect changed conditions. Statements in this press release that are not descriptions of historical facts are forward-looking statements relating to future events, and as such all forward-looking statements are made pursuant to the Securities Litigation Reform Act of 1995. Statements may contain certain forward-looking statements pertaining to future anticipated or projected plans, performance and developments, as well as other statements relating to future operations and results. Any statements in this press release that are not statements of historical fact may be considered to be forward-looking statements. Words such as “may,” “will,” “expect,” “believe,” “anticipate,” “estimate,” “intends,” “goal,” “objective,” “seek,” “attempt,” “aim to,” or variations of these or similar words, identify forward-looking statements. These risks and uncertainties include, but are not limited to, those described in Item 1A in the Company’s Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in the Company’s filings with the SEC.
Qatalyst™ and Dirac-1™ are the trademarks of Quantum Computing Inc. All other trademarks are the property of their respective owners.
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