Quantum Dice And HSBC Collaborate On The Use Of QRNGs To Enhance Financial Monte Carlo Simulations

Quantum Dice And HSBC Collaborate On The Use Of QRNGs To Enhance Financial Monte Carlo Simulations

Quantum Dice, a spinout from the University of Oxford’s world-renowned quantam optics laboratory, proudly announces its collaboration with HSBC to explore the advantages of its Quantum Random Number Generator for financial Monte Carlo simulations in a planned commercial proof of concept (PoC).

The commercial PoC follows the successful completion of an Innovate UK-funded project that saw Quantum Dice, HSBC, and the Hartree Centre work together to demonstrate the use of Quantum Dice’s self-certifying QRNG on test cases relevant to Monte Carlo simulations in the financial services sector.

Founded in April 2020, Quantum Dice is an award-winning venture-backed spinout from the University of Oxford’s world-renowned quantum optics laboratory. It’s there where the architecture for its innovative quantum source of entropy was originally invented. Its mission is to provide trusted and secure randomness, leveraging the unique properties of quantum systems along with its patented DISC™ protocol. 

Since its founding in 2020, Quantum Dice has received multiple awards for its innovative technology, such as the Institute of Physics Business Start-Up Award and a European Technology Award and has seen rapid growth. Supported by world leading strategic programmes, such as SETSquared and Intel for Startups, it is now scaling to meet market need for provable keys to their security.

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Ramy Shelbaya, CEO & Co-founder at Quantum Dice

"The potential for quantum technologies to revolutionise the financial services sector is immense. We are proud to be working with a bank that has already led the way in adopting new technologies. This project with HSBC will be an important milestone in showcasing the impact that quantum entropy can have on the simulations that underpin our modern economy."

Philip Intallura, Global Head of Quantum Technologies at HSBC

“HSBC has been exploring how quantum technologies could impact real business applications today. We are working with Quantum Dice to address whether quantum random number generators can enhance Monte Carlo simulations. These are important tasks in financial services with applications such as computing risk analytics and pricing complex derivatives. Our joint work with Quantum Dice started under an Innovate UK grant, and we are now pleased to move forward with a planned commercial PoC.”

Zhanet Zaharieva, Project Manager, COO & Co-founder Quantum Dice

"I am delighted to see the successful outcomes of our pioneering Innovate UK collaboration with our partners at HSBC. Working with global quantum innovators such as HSBC, who have unprecedentedly demonstrated the importance of exploring the capabilities of quantum technologies based on their potential business impact, has been tremendously inspiring. I look forward to continuing our joint work with the HSBC team to further build on what we have achieved, broadening the applicability of QRNGs for financial Monte Carlo simulations."

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