- Multiverse Computing and Moody’s Analytics to launch a Software as a Service (SaaS) platform that provides a marketplace for quantum-based solutions.
- The team leading the initiative will work with key Moody’s clients and Multiverse Computing’s software to develop solutions for specific use cases.
- The initiative is also validation of the value that quantum computing brings to finance and other industries.
PRESS RELEASE — Multiverse Computing, a global leader in value-based quantum computing solutions, and Moody’s Analytics, a leading global integrated risk assessment firm, are combining quantum algorithm expertise with 100 years of leadership in risk management to launch the QFStudioTM platform an easy-to-use Software as a Service (SaaS) platform that provides a marketplace for quantum-based solutions.
The team leading this joint initiative will work with key Moody’s clients and Multiverse Computing’s software to develop and test quantum and quantum-inspired solutions for specific use cases. The SaaS platform features benchmarking capabilities that allow for a comparison of classical solutions and their quantum equivalents, specifically for high-impact use cases within the finance sector. It provides both web and API access to algorithmic solutions, making it easy to integrate within existing production environments. Also, if a quantum solver shows better performance, a user can run that algorithm from the QFStudioTM platform.
Moody’s brings domain knowledge, a network of finance business developers, and tier-1 financial institutions as clients, while Multiverse will provide more than 80 quantum software experts, its Singularity quantum software, and agreements with all the major quantum computing hardware companies.
Enrique Lizaso Olmos, CEO of Multiverse Computing, described this new initiative as validation of the value that quantum computing brings to finance and other industries.
“Moody’s understands the importance of building quantum expertise and relevant use cases now, not waiting for some indefinite point in the future,” he said. “We anticipate that this quantum benchmarking SaaS platform will enable future operational improvements for Moody’s customers and we look forward to developing new quantum and quantum-inspired solutions.”
Sergio Gago, Moody’s Managing Director for Quantum and GenAI, said the new venture combines Multiverse’s quantum software expertise with Moody’s best-in-class quantitative analysis, models, and data sets.
“By working together to research quantum’s possibilities, we increase our ability to solve complex problems faster and deliver them to the market in a seamless ‘plug and play’ way, so that every financial institution can leverage the power of quantum,” he said.
Moody‘s sees strategic collaborations as critical to success in this space, particularly with hardware and algorithm providers, and anticipates announcements regarding additional quantum projects.
QCentroid contributed to this collaboration between Multiverse and Moody’s by designing the user interface for the QFStudioTM platform. The company specializes in creating easy access to quantum algorithms via APIs and smart contracts as well as benchmarking the capabilities of those algorithms.
Moody’s launched its own internal quantum team in early 2022 with a focus on risk modeling and simulation, and the goal of developing specific, high-impact use cases. The quantum group is researching business advantage, applicability and benchmarking capabilities in addition to developing training materials to help clients become quantum ready.
Moody’s provides data, analytics and insights for leaders of financial, non-financial and government organizations with tools for financial, climate, cyber and other types of risk. The company has analyzed more than 200 million financial statements representing more than 40 million global private firms. The finance industry has multiple quantum use cases that involve large amounts of data and complex computational tasks, such as stock prediction, portfolio optimization and derivative pricing. Quantum and quantum-inspired algorithms could calculate solutions more quickly than the classical algorithms in use today.
Multiverse’s first software product, Singularity, is the main engine of the new QFStudioTM platform. Multiverse is currently working with several banks and financial organizations to use Singularity for portfolio optimization and credit scoring. The software platform enables professionals with no background in quantum computing to take advantage of early business value. The platform offers an Excel plug-in and a Python interface to allow for ease-of-use in existing systems.