HSBC is increasing its investment in quantum computing innovation after teaming up with Quantinuum in May.

The $3 billion bank joined a quantum-secured network by BT and Toshiba that will use quantum key distribution (QKD) technology to protect against advanced cyberthreats, according to a Wednesday HSBC release.

HSBC is “figuring out how to construct problems in a quantum mechanical way,” HSBC’s Global Head of Quantum Technologies Philip Intallura told Bank Automation News, adding that “link[ing] them to the right use cases requires time and deep understanding.” 

QKD invokes the principles of quantum physics to create secure encryptions and detect quantum-enabled eavesdroppers and cyber attackers, according to the release. The technology will first be piloted over nearly 40 miles of fiber-optic cables between HSBC’s London headquarters and a nearby data center.  

The network, which leverages Amazon Web Services’ computing power, will be tested in scenarios involving financial transactions, communication and encryption.  

This security upgrade is part of a “twofold” strategy for quantum programs at the bank, Intallura said. HSBC is also looking to use the technology to “unlock future competitive advantage and improve customer experience,” he said. 

The bank announced its use of Quantinuum in May, saying it would investigate both short- and long-term implications of the technology across various applications. 

HSBC is exploring use cases with Quantinuum including quantum machine learning for fraud detection, natural language processing and secure encryptions, Intallura said. 

HSBC began working with IBM on quantum computing research last year, among other providers, according to Intallura. The bank increased its tech spend last quarter, amid falling operating costs, according to the bank’s first-quarter earnings report.