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Multiverse Computing Builds Quantum Software To Improve The Performance Of The Financial Institutions

Below is our recent interview with Amaia Garmendia from Multiverse Computing:

Q: Can you tell us something more about the company?

A: At Multiverse Computing we are world leaders in quantum computing for the financial industry. We build Quantum Software for Extreme Ideas, starting with Finance and we are also expanding to other verticals (Energy, mobility and life). We are developing a set of quantum and quantum-inspired algorithms to radically improve the performance of the Financial Institutions. As an example, we have identified that contemporary methods for the detection of credit card fraud are insufficient.

Multiverse Computing is the company whose Founders have been cited by IBM itself as the experts in applying Quantum Computing to Finance (“Getting your financial Institution ready for the Quantum Revolution” brochure). We has been recognized by some of the founding fathers of the field (Michelle Mosca) as world experts in the field.

The power of our algorithms has also been cited by the Economist, The Boston Consulting Group, Mckinsey and Forbes. Even our customers have compared our solutions to others from competitors, stating that Multiverse´s were far superior to any other outcome possible in any other way.

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Q: Can you give us more insights into your offering?

A: Quantum computing technology, and specifically, that offered by Multiverse Computing, will allow calculations that are currently impossible with the current computing and computer model (commonly called “classical” computing). Quantum computing allows tackling “open” financial problems (for which there is and will not be a solution with classical computers). With these solutions, we will be able to move forward in the near future to face ambitious and far-reaching challenges such as poverty, tax fraud, and economic-financial inequality in the different states of society, making markets more efficient and reducing costs.

It is important to highlight the fact that quantum computers do not obtain their computing power by going faster (in fact, they can be significantly slower than “classical” computers), but by the fact that they take advantage of the laws of mechanics. quantum technology being able to simultaneously explore -without duplicating machinery or processors- a much higher number of possible solutions to which any classical machine, current or future, could never have access. It can therefore be said that quantum algorithms start from different principles and have a much more important probabilistic content. This, together with the inherent characteristics of quantum mechanics, makes the algorithms differ enormously from those we are used to, and that the knowledge necessary to design and program them is different.

Multiverse adds something specific, additional, to its knowledge of quantum computing, and it is the use of algorithms and classical computing technologies from areas of the fields of advanced Physics, and also based on quantum mechanics (called in the sector, “Quantum-Inspired” systems). Specifically, calculation technologies based on what are called “Tensor Networks” allow to speed up calculations, making it possible to find solutions to financial problems that were not possible until now. Tensor Networks, used in Advanced Physics, allow solutions to problems that currently available quantum computers cannot reach due to lack of hardware capacity. Therefore, they allow you to tackle very complex calculations much faster, today.

Q: What can we expect from your company in next 6 months? What are your plans?

A: Our Headquarters are in San Sebastian, Spain. We also have an office in Toronto and in Paris and are in the process of finalizing the opening of a subsidiary in Germany. By setting four centers of developments, Multiverse Computing can tap into all pools of talent for our expansion.

The target customer that we plan to reach in the first instance with our products are financial institutions, government, energy and healthcare authorities. In addition, Multiverse plans to continue exploring solutions for new markets such as logistics, mobility and cryptography, among others, in the following years.

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Q: What is the best thing about your company that people might not know about?

A: We are a progressive company and we have an open and happy people culture which brings us to create a good workplace and retaining talent. We believe that this has an integral role in our business´s sucess.

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