Standard Chartered Bank’s SC Ventures is collaborating with Fujitsu to propel the evolution of quantum computing from research to practical application within the financial services sector.
The initiative, named Project Quanta, aims to unify various software and hardware technologies on a cohesive platform. This will enable clients to swiftly explore, develop, and implement quantum computing and quantum-inspired applications.
This partnership leverages Fujitsu’s extensive expertise in quantum computing research and development, combined with SC Ventures’ strengths in venture building and deep insights into financial institutions. The goal is to fast-track the creation of quantum use cases, intellectual property, resources, and value.
Fujitsu has made significant strides in advancing quantum computing, focusing on both software and hardware innovations. In collaboration with Riken, the company is in the process of developing a 1,000-qubit superconducting quantum computer, which is slated to become operational in fiscal 2026.
Apurv Suri, who leads client engagement and partnerships at SC Ventures, remarked: “The quantum development landscape is currently fragmented, with some organizations excelling in hardware integration while others focus on developing quantum algorithms. By teaming up with Fujitsu, we aim to consolidate quantum resources and talent into a single platform for corporates looking to enhance their quantum capabilities.”
Stafford Bond, head of growth investments at Fujitsu Services, added: “By merging our expertise in quantum technologies and integration with SC Ventures’ industry knowledge and venture-building experience, we intend to speed up the practical deployment of quantum technologies and create transformative value for businesses.”
Though still in its early stages, quantum computing is gaining momentum in the financial services industry, with major firms making substantial investments in its development. Recently, HSBC reported promising results from trials conducted with IBM, assessing the potential of current quantum computing solutions for algorithmic trading in the bond market.