OCBC, Singapore universities explore quantum tech in finance

The year-long partnerships aim to study the use of quantum computing and cryptography in derivative pricing, fraud detection, and data security.

OCBC has announced new research collaborations with the National University of Singapore (NUS), Nanyang Technological University (NTU), and Singapore Management University (SMU) to explore applications of quantum technology in finance.

The year-long partnership aims to study the use of quantum computing and cryptography in derivative pricing, fraud detection, and data security.

Findings from the projects are expected to be published in academic journals and could offer insights into how quantum technologies may be applied to banking operations.

The initiative aligns with Singapore’s national strategy to advance quantum research and development. Under the National Quantum Computing Hub, the country is investing nearly $300m to support talent development, hardware innovation, and real-world applications in various sectors.

At NUS, researchers will examine how quantum algorithms can improve the efficiency of Monte Carlo simulations, which are widely used in financial risk modeling and derivative pricing. The project will explore how these simulations might be accelerated using quantum computing.

SMU’s research will focus on the application of quantum machine learning to detect financial fraud. The study will look into whether quantum computing can help identify patterns in complex or unstructured data that may indicate fraudulent activity.

NTU will lead efforts in post-quantum cryptography, which involves encryption methods designed to protect data from potential threats posed by future quantum computers. The project aims to assess how these methods can enhance digital security in banking.