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FRANCE, June 14, 09:45 CET - The first enterprise in France to join the IBM (NYSE: IBM) Quantum Network, Crdit Mutuel Alliance Fdrale, its technology subsidiary Euro-Information, and IBM today announced their continued investment in quantum computing. After a successful initial phase, the organizations have identified specific use cases, among many areas of interest in financial services, for the collaborations next scaling phase, including: research into customer experience, fraud management and risk management. This phase also intends to explore possibilities for how quantum computing could lead to future improvements in Crdit Mutuel Alliance Fdrales customer and employee experience.

Because banking and insurance are technological industries, it is essential to constantly innovate to master the technologies of the future, and to ensure that they help guarantee sovereignty. Our historic collaboration with IBM is part of this dynamic. Back in 2016, we were among the first financial institutions to apply artificial intelligence and its industrialization. Our ambition for quantum computing is similar: to explore, then industrialize, in order to further transform the banking and insurance businesses, all with the underlying goal of also keeping our customers information secure, said Nicolas Thry, President of Crdit Mutuel Alliance Fdrale, and Frantz Rubl, President of Euro-Information.

Crdit Mutuel is making rapid progress in how to apply quantum technology to enhance financial services. Were excited to collaborate with them on the scaling phase as they expand their activities with an aim toward developing concrete applications that could improve their customers experience and transform how the industry manages risk and fraud, said Sebastian Krause, Senior Vice President and Chief Revenue Officer, IBM.

During this phase of the collaboration, Euro-Information, Crdit Mutuel Alliance Fdrale and IBM will now begin work on prototyping use cases for fraud management, risk management and improving customer experience. During these activities, Euro-Information will have access to IBMs latest quantum technologies, including systems with 433-qubit IBM Osprey and 127-qubit IBM Eagle processors, as well as IBM Qiskit Runtime* Primitives functions, error mitigation techniques and the first circuit knitting capabilities.

Innovation at the core of Crdit Mutuel Alliance Fdrale and Euro-Informations technological journey

In 2016, Crdit Mutuel Alliance Fdrale began working with IBM to use artificial intelligence to help its employees. A year and a half later, 25,000 advisors at Crdit Mutuel Alliance Fdrale (Crdit Mutuel branches and CIC agencies), were using the toolon a daily basis to reduce the time spent on administrative tasks, such as data entry, signatures, and search. As a result, in 2022, the equivalent work hours of nearly 1,600 full-time employees were freed up for the benefit of customers and members who want a closer relationship with their local adviser.

This successful exploration and integration of AI technologies between Crdit Mutuel Alliance Fdrale and IBM is an example of the progress the companies hope to achieve in the future with quantum computing.

The companies joint aim is to combine the performance of current processes that use classical and AI solutions in fraud management, risk management and customer experience, with that of the latest quantum technology, with a future goal of developing applications that deliver a quantum advantage, where a computational task of business or scientific relevance can be performed more efficiently, cost-effectively, or accurately using a quantum computer than with classical computations alone.

Euro-Information is also considering the modalities and advantages of hosting a quantum computer in one of their datacenters in France.

A Quantum Academy to Train Experts to Work in the Quantum Factory

When the initial phase with IBM launched in 2022, Crdit Mutuel Alliance Fdrale and Euro-Information involved and trained their employees so that they could understand the subject and the associated opportunities.

The teams are now able to apply what they have learned about quantum computing toward the challenges in banking and insurance, particularly with regard to the use of the IBM-developed Qiskit open-source software suite, and the development of quantum algorithms.

Crdit Mutuel Alliance Fdrale employee skills development will continue to be supported throughout this scaling phase of the project by Euro-Informations Quantum Academy, which will train technical and business profiles to retain and attract the talent CrditMutuel Alliance Fdrale and Euro-Information will need to successfully industrialize the use cases identified in their roadmap.

To support this next phase, Crdit Mutuel Alliance Fdrale, Euro-Information and IBM will also establish a Quantum Factory, based on the same organizational model as Euro-Informations Cognitive Factory, which is an on-site collaborative for AI research. Made up of multi-disciplinary teams of experts with business and technical skills, the Quantum Factory will define the scaling phases roadmap, continue to develop use cases in order to prepare for quantums industrialization for the financial services and insurance industries.

About Euro-Information

Euro-Information is the technology subsidiary of Crdit Mutuel. Euro-Information manages the IT systems of 16 federations of the Crdit Mutuel group as well as those of CIC and of all the financial, insurance, property, consumer credit, private banking, financing, telephony and technological subsidiaries.

With a headcount of almost 4 000, Euro-Information offers cutting-edge technology to employees and banking customers alike, backed up by a high level of security and personal data protection. Euro-Information has in-house expertise in all technologies and carries out the developments necessary for the entities of the Crdit Mutuel group.

More information can be found on e-i.com

About Crdit Mutuel Alliance Fdrale

One of Frances leading bankinsurers, with 77,000 employees serving more than 30 million customers, Crdit Mutuel Alliance Fdrale offers a diversified range of services to private individuals, local professionals and companies of all sizes, through its 4,500 branches. Ranking among Europes strongest banking groups, its equity totaled 56.7 billion euros and its CET1 ratio was 18.2% as of December 31, 2022.

Crdit Mutuel Alliance Fdrale is made up of the following Crdit Mutuel federations: Centre Est Europe (Strasbourg), Sud-Est (Lyon), le-de-France (Paris), Savoie-Mont Blanc (Annecy), Midi-Atlantique (Toulouse), Loire-Atlantique et Centre-Ouest (Nantes), Centre (Orlans), Normandie (Caen), Dauphin-Vivarais (Valence), Mditerranen (Marseille), Anjou (Angers), Massif Central (Clermont-Ferrand), Antilles-Guyane (Fort-de-France) and Nord Europe (Lille).

Crdit Mutuel Alliance Fdrale also includes Caisse Fdrale de Crdit Mutuel, Banque Fdrative du Crdit Mutuel (BFCM) and all its subsidiaries, in particular CIC, Euro-Information, Assurances du Crdit Mutuel (ACM), Targobank in Germany, Cofidis, Beobank, Banque Europenne du Crdit Mutuel (BECM), Banque de Luxembourg, Banque Transatlantique and Homiris.

Find more information at creditmutuelalliancefederale.fr

About IBM

IBM is a leading global hybrid cloud and AI, and business services provider, helping clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 4,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM's hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM's breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM's legendary commitment to trust, transparency, responsibility, inclusivity and service. For more information, visit http://www.ibm.com

*Qiskit Runtime is a quantum computing service and programming model that enables users to optimize applications and run them efficiently on quantum systems at scale.

Statements regarding IBMs future direction and intent are subject to change or withdrawal without notice and represent goals and objectives only.

Qiskit is a registered trademark of IBM Corporation.

Press Contacts:

Crdit Mutuel Alliance Fdrale:Aziz Ridouan+33 (0)6 01 10 31 69aziz.ridouan@creditmutuel.fr

IBM:Galle Dussutour+33 (0)6 74 98 26 92dusga@fr.ibm.com

Weber Shandwick for IBM:ibmfrance@webershandwick.com

Louise Weber+33 (0)6 89 59 12 54

Jennifer Tshidibi+33 (0)6 13 94 26 58

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