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Quantum Computing launches quantum software application for financial institutions

The Quantum Asset Allocator is built to help financial institutions solve asset allocation problems

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Quantum Computing Inc (OTCMKTS:QUBT) has released its first-ever software application: The Quantum Asset Allocator.

The Quantum Asset Allocator is built to help financial institutions solve asset allocation problems. The software is available as both a cloud-based software service and as an on-premises software plus hardware system.

"This is a major breakthrough for Quantum Computing,” CEO Robert Liscouski said in a statement. “We are excited to be releasing the Quantum Asset Allocator which will provide small and medium sized funds the ability to do asset allocation that previously was the province of large brokerage firms, mutual fund and the largest quant funds. Beta tests have demonstrated superior portfolio performance using quantum inspired techniques on both classical and existing quantum computing hardware.”

READ: Quantum Computing plans to introduce dynamism of Quantum computing to the masses

The software is able to leverage a financial institution’s strategy for evaluating risk and reward and calculate the optimal portfolio mix.

“Quantum Computing develops and sells quantum-ready software solutions for clients who have problems that can be solved using quantum techniques to provide superior results on classical computers today,” said Steve Reinhardt, who is the vice president of Product Development at Quantum Computing.

“This is the launch of our first of a series of products that will leverage quantum techniques to provide differentiated performance on both classical computers and on a variety of early-stage quantum computers such as DWave and other annealers, which are on the market today," he added.

Staffed by experts in mathematics, quantum physics, supercomputing, financing and cryptography, Leesburg, Virginia-based Quantum Computing is developing an array of applications to allow companies to exploit the power of quantum computing to their advantage.

The company is placing a gargantuan bet on the power of quantum computers to solve the most difficult and intractable problems in the fields of portfolio management, big data and artificial intelligence.

Contact Andrew Kessel at [email protected] 

Follow him on Twitter @andrew_kessel

Quick facts: Quantum Computing Inc.

Price: 2.3 USD

OTCQB:QUBT
Market: OTCQB
Market Cap: $16.98 m
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