D-Wave Quantum Inc. (NASDAQ: QBTS) and Nasdaq Verafin have announced a formal agreement aimed at evaluating quantum computing as a tool for detecting financial crime.
The collaboration will initially center on developing a proof-of-concept, with the possibility of expanding into pilot applications targeting key anti-financial crime use cases.
D-Wave describes itself as the only dual-platform quantum computing company offering both annealing and gate-model systems, software, and services to commercial and government clients.
The partnership will explore how D-Wave’s annealing quantum computing technology can uncover complex relationships across account activity, transaction patterns, and counterparty networks that conventional approaches may miss.
The initial proof-of-concept will use D-Wave’s technology to analyze hundreds of potential data signals, with the goal of strengthening predictive models that detect unusual account behavior.
Quantum-hybrid technology will be applied to machine learning efforts designed to identify behavioral patterns linked to fraud, scams, and money laundering.
Dr. Alan Baratz, CEO of D-Wave, framed the agreement as a significant step for the sector, stating: “This agreement with Nasdaq Verafin provides an important opportunity to explore quantum computing’s potential in addressing some of the financial services sector’s most complex problems.”
Baratz added: “By applying D-Wave’s quantum-hybrid technology to machine learning and other application development efforts, Nasdaq Verafin is reinforcing its role as a technology-forward organization helping shape the future of financial services innovation.”
Nasdaq Verafin serves more than 2,800 financial institutions, which together represent $13 trillion in collective assets, using its platform to prevent fraud and strengthen anti-money laundering efforts.
The company provides a broad suite of Financial Crime Management Technology solutions, covering fraud detection, AML/CFT compliance, sanctions screening, high-risk customer management, and information sharing.
D-Wave’s Leap quantum cloud service boasts 99.9% availability and uptime, and more than 100 organizations across commercial, government, and research sectors currently rely on the company’s systems for complex computational challenges.
The agreement positions both companies at the frontier of applying next-generation computing technology to one of the financial industry’s most persistent and costly problems.
