QxBranch has successfully completed Accenture’s Hong Kong-based FinTech Innovation Lab Asia-Pacific. Through the program, the QxBranch team had the opportunity to work with eleven global financial institutions to identify and develop financial applications for quantum computing that advance the state of the art.
The FinTech Innovation Lab, which was launched by Accenture in June 2014, is a collaboration between Accenture and financial institutions to accelerate the growth of early-stage companies from around the world that are developing new technologies for the financial services sector.
Qx and seven other companies were selected from more than 90 applicants for the twelve-week program. The program included mentoring by senior executives, a series of panel discussions, workshops, leadership coaching, and networking opportunities. The finale of the program, hosted on 4 December, 2014, was attended by 200 investors and financial industry executives.
“FinTech has provided an unparalleled opportunity to engage with top executives at the leading financial institutions across Asia Pacific. The meetings facilitated throughout the program have led to direct collaborations that otherwise would have taken years to develop”, said Michael Brett, CEO of Qx. “As a result of the program, Qx has secured ongoing commercial relationships with several of the participating financial intuitions. There is no doubt quantum computing is going to be rapidly adopted by the leading banks to gain an edge as the technology matures.”
FinTech’s Supporting financial institutions were: Bank of America Merrill Lynch, Bank of China (Hong Kong), Barclays, China Construction Bank (Asia), Credit Suisse, DBS, HSBC, J.P. Morgan, Morgan Stanley, Ping An, and UBS.