Banking Exchange Magazine Logo

Truist to Bring Quantum Computing to Consumer Banking

The banking giant has teamed up with IBM to explore the potential for enhancing banking systems

  • |
  • Written by  Banking Exchange staff
Truist to Bring Quantum Computing to Consumer Banking

Truist is partnering with tech giant IBM to explore the potential applications of quantum computing to its consumer banking functions.

The financial services group has joined IBM’s Quantum Accelerator program, while IBM has been added to Truist’s Innovator in Residence program.

Truist plans to develop internal expertise in quantum computing using IBM’s facilities to explore how this technology can benefit Truist’s consumer banking use cases.

Quantum computing uses a different form of technology from regular computers to significantly expand the complexity of models that can be generated. While the technology is still in its infancy, many scientists and researchers in the field believe it has the potential to revolutionize many industries.

Other corporate giants including Mercedes-Benz, ExxonMobil and the CERN nuclear facility in Switzerland have all employed quantum computing systems from IBM.

Scott Case, chief information officer at Truist, emphasized the bank’s commitment to investing in new technologies that can transform banking and solve complex problems. He cited IBM’s leadership in quantum computing, and said the collaboration would be instrumental in maximizing the use of these technologies.

As an Innovator in Residence at Truist, IBM will deploy teams with subject matter expertise onsite, contributing knowledge on emerging payment technologies, operational resiliency, artificial intelligence, automation, and business process and operations transformation.

Ken Meyer, divisional chief information and experience officer at Truist, said this would enable discussions and explorations about the future of banking, leveraging IBM’s deep technology and banking industry expertise.

The collaboration between Truist and IBM signifies a commitment to innovation and the exploration of transformative technologies that can enhance the banking experience for customers.

back to top


About Us

Connect With Us


CSI: Hawthorn River
Lending Regulatory Compliance

WEBINAR: Tuesday, May 21st, 2024, 2:00 CT / 3:00 ET

Join us to learn more about leveraging technology in Hawthorn River to support your lending process and its regulatory compliance. From 1071, TRID, HMDA, CRA and more in the sea of regulatory acronyms, our end-to-end loan origination solution creates efficiency for financial institutions.

Join this session for an overview of the platform, an interactive Q&A and information about:


This webinar is brought to you by:
OneSpan logo