At the Point Zero Forum in Zurich today, Dr Philip Intallura, Global Head of Quantum Technologies at HSBC, delivered a compelling keynote urging banks not to wait for full quantum advantage. He argued that measurable value is already available for those who lean in now.
Intallura, who leads HSBC’s quantum strategy and works closely with IBM, highlighted how the bank is positioned as one of the most advanced players. HSBC ranks #2 globally in the Quantum Innovation Index (behind only JPMorgan Chase), with strong scores across workforce, R&D, and adoption pillars.
Early Value Beyond the Hype
Intallura pointed to practical differentiators already emerging: the Quantum team is frequently called in to advise major corporate and institutional clients exploring the technology, and HSBC’s Innovation Banking arm is attracting significant investment from quantum startups.
“There is value beyond core technology delivery as well… we’ve become a differentiator in a very commoditised industry.”
Watch a clip of his talk on X:
He stressed that current benchmarks and indexes reflect organizational readiness and experimentation, not yet quantum advantage (which no bank has demonstrated at scale).
The Steep & Complex Adoption Curve
Unlike traditional machine learning implementations, quantum computing adoption in regulated banks is a lengthy and highly complex process. It involves assembling a skilled team with a clear strategy and proper funding, surfacing hard computational challenges across the business, assessing quantum applicability, running PoCs on external hardware, choosing vendors, and addressing governance, model risk, and regulatory requirements.
Intallura warned that this process cannot be rushed which is exactly why starting early matters.
Real-World Win: Quantum ML for Algorithmic Bond Trading (with IBM)
A standout example was HSBC’s world-first trial with IBM on algorithmic bond trading. As a market maker, HSBC must respond rapidly to large client orders while pricing competitively in a blind market.
Using quantum machine learning, the team transformed data into quantum space to uncover hidden patterns, then applied the insights classically. This delivered a performance uplift of up to 34% on queries in the best-case scenarios. A meaningful edge for margins and liquidity.
The experiment (which took over a year) is not yet in production but is advancing to broader testing. It demonstrates near-term value from thoughtful application of quantum techniques today.
Quantum Security Threat Accelerating
Intallura also addressed the rising quantum threat to current cryptography (e.g., RSA factoring). The resources needed to break it are decreasing rapidly, and expert probability assessments continue to increase. Banks must accelerate migration to post-quantum protocols.
Collaboration Is Essential
Every HSBC quantum use case has been built in partnership, with business units and external quantum providers. No organization can go it alone.
“No single organization is able to develop quantum solutions and deploy quantum capabilities on their own,” Intallura added.
Key Takeaways
Intallura left the audience with three clear messages:
- Do not wait for quantum advantage. Value is available now.
- The adoption curve is steep. Start sooner to be ready as the technology matures.
- Quantum solutions cannot be solved alone. Collaboration across the ecosystem is critical.
Intallura’s keynote at Point Zero Forum 2026 delivered a powerful and timely message: banks do not need to wait for full quantum advantage to start capturing value. With HSBC already ranked among the global leaders and demonstrating real results through collaborations like its IBM bond trading trial, the path forward is clear. Those institutions that build capabilities now, embrace the steep adoption curve, and invest in strategic partnerships will be best placed to thrive as quantum technologies mature. In a rapidly evolving financial landscape, early action on quantum is becoming a critical differentiator.
Author: Andy Samu
See Also:
How IBM is ensuring that the World is Quantum Safe | Disruption Banking
How Quantum Computing Could Disrupt Wall Street by 2030 | Disruption Banking
HSBC pilots quantum-safe technology for tokenised gold | Disruption Banking
