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First company in France to join IBM Quantum Network, Crédit Mutuel Alliance Fédérale through Euro-Information, its technology subsidiary, is working with IBM to form teams and explore use cases and proof of concept in financial services, with plans to expand the quantum ecosystem in the country.
November 8, 2022
Paris, November 8, 2022 – Crédit Mutuel Alliance Fédérale, a member of the IBM Quantum Network, and IBM announced today that they have entered the discovery phase of an engagement to include exploration of the applicability of quantum computing to cases use of banking and insurance and development of a proof of concept and started the development of the workforce.
Workforce development
This engagement marks the first IBM Quantum Network corporate collaboration in France and will initially hone Crédit Mutuel employees with quantum computing expertise in the open-source software development kit Qiskit and applying quantum algorithms to develop quantum expertise within Crédit Mutuel’s teams and lay the foundations of the organization ready to take full advantage of quantum technology.
Crédit Mutuel employees will have access, via the IBM Quantum Premium plan, to the best of IBM’s quantum technology and Qiskit Runtime as a service, as well as to IBM’s expertise in the quantum and industrial field, to help advance potential applications of quantum use cases in financial services.
“We made a winning bet with artificial intelligence six years ago, and we are now convinced that, as the technology emerges, the time has come to begin our quantum journey with IBM, to ensure that our customers and our employees will be the first to France will benefit from the quantum. We are convinced that it will greatly improve the quality of service to our customers and members,” said Nicolas Théry, Chairman of Crédit Mutuel Alliance Fédérale, and Frantz Rublé, Chairman of Euro -Information.
Developing the quantum ecosystem in France
Over the coming months, Crédit Mutuel Alliance Fédérale will explore use cases in areas relevant to financial services. The bank will also seek to work with interested customers and partners to extend the French quantum ecosystem to the finance and insurance sectors, and accelerate the identification, development and adoption of quantum applications.
“It is exciting and rewarding to work with such an innovative and forward-thinking client as Crédit Mutuel,” said Tom Rosamilia, Senior Vice President, IBM Software and IBM Executive Advocate for Crédit Mutuel. “From its work with IBM’s data and artificial intelligence technologies to provide new digital banking services to its customers, to being the first private organization to collaborate with IBM on quantum technologies in the French market, Crédit Mutuel uses technology creatively to better serve its customers.
Future opportunities
The most promising Crédit Mutuel projects Federal Alliance identifies alongside IBM may be developed into future applications that could provide a quantum advantage – when a computational task of commercial or scientific interest can be performed more efficiently, cost-effectively, or accurately using a quantum computer than with classical calculations alone. IBM’s quantum development roadmap includes announcing the 433-qubit ‘IBM Osprey’ processor this year and plans to build a 4,000+ qubit processor by 2025, with a vision to combine computing classical and quantum computing to work together seamlessly to solve different parts of complexes. computer problems best suited to their respective strengths and abilities.
In the future, Euro-Information also wishes to reflect on the methods of hosting a quantum computer in its datacenters in France. This is a very important subject with regard to Crédit Mutuel’s commitments, in particular concerning the digital confidentiality of its customers.
More than 200 customers, including Fortune 500 companies, start-ups, academic institutions and research labs, work with IBM Quantum technology to advance quantum computing and explore practical applications. The IBM Quantum team and clients research and explore how quantum computing will help a variety of industries and disciplines, including finance, energy, chemistry, materials science, optimization and l machine learning, among many others.
Statements regarding IBM’s future direction and intentions are subject to change or withdrawal without notice and represent goals and objectives only.
About Crédit Mutuel Alliance Fédérale
One of the leading French bank-insurers, with more than 75,000 employees serving more than 29 million customers, the 4,500 branches of Crédit Mutuel Alliance Fédérale offer a diversified range of services to individuals, local professionals and companies of all sizes. Ranked among the strongest banking groups in Europe, its equity amounted to 53.2 billion euros and its CET1 ratio was 18.8% as of December 31, 2021.
Crédit Mutuel Alliance Fédérale brings together the following Crédit Mutuel federations: Center Est Europe (Strasbourg), Sud-Est (Lyon), Île-de-France (Paris), Savoie-Mont Blanc (Annecy), Midi-Atlantique (Toulouse), Loire-Atlantique and Centre-West (Nantes), Center (Orléans), Normandy (Caen), Dauphiné-Vivarais (Valence), Mediterranean (Marseille), Anjou (Angers), Massif Central (Clermont-Ferrand), Antilles-Guyana ( Fort-de-France) and Northern Europe (Lille).
Crédit Mutuel Alliance Fédérale also includes Caisse Fédérale de Crédit Mutuel, Banque Fédérative du Crédit Mutuel (BFCM) and all of its subsidiaries, in particular CIC, Euro-Information, Assurances du Crédit Mutuel (ACM), Targobank, Cofidis, Beobank , Banque Européenne du Crédit Mutuel (BECM), Banque de Luxembourg, Banque Transatlantique and Homiris.
Find more information about http://www.creditmutuelalliancefederale.fr/en/
About Euro-Information
Euro-Information is the technological subsidiary of Crédit Mutuel. Euro-Information manages the information systems of the 16 federations of the Crédit Mutuel group as well as those of CIC and all the financial, insurance, real estate, consumer credit, private banking, financing, telephony and technology.
With nearly 4,000 employees, Euro-Information offers state-of-the-art technology to both employees and bank customers, coupled with a high level of security and protection of personal data. Euro-Information controls all the technologies internally and carries out the developments required by the entities of the Crédit Mutuel group.
More information can be found at https://www.ei.com/
About IBM
For IBM solutions and information on applying quantum computing to financial services and other industries, visit https://www.ibm.com/quantum
press contact
Credit Mutuel Alliance Federale
Aziz Ridouan
Tel: +33 6 01 10 31 69
IBM
Gaelle Dussutour
Communication IBM France
Chris Nay
IBM Research Communications
