Ally Tech has announced a strategic partnership with Microsoft to explore how quantum computing can transform the financial services market.

Together with Microsoft, the US FinTech will apply the latest research on quantum inspired algorithms to understand how they can be leveraged to solve complex challenges.

The company said that quantum inspired optimisers run on classical hardware, allowing it to explore quantum use cases today, while quantum hardware continues to develop towards broad commercial use.

Ally Tech has collaborated with Microsoft as part of the tech giant’s Enterprise Acceleration Program (EAP), which the FinTech said has enabled the business to explore potential use cases, start developing quantum subject matter expertise, and begin building relationships with an ecosystem of partners dedicated to realizing the potential of quantum.

“We have been able to benefit from the deep experience of the Microsoft Quantum research team, learn about the types of problems quantum can help solve within the financial services industry, and begin developing quantum computing skills using Microsoft’s quantum development kit,” said the company.

Microsoft has provided Ally Tech with accelerators that advance across all three of Ally’s quantum goals.

The business has also leveraged Micosoft’s Azure capabilities. The company has access to the software languages, APIs, and infrastructure to build quantum skills.

According to Ally, quantum inspired optimisation can be used in a range of business areas, in everything from portfolio management, to operational efficiency and customer experience.

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