RBC builds an enterprise quantum program: new director, university partnerships, and a quantum-safe roadmap

Dr. Elizabeth Iwasawa was appointed Director of Quantum. In the new role she will lead a team of quantum researchers and developers and manage the development and buildout of RBC's quantum strategy. RBC frames the appointment as part of a shift to operationalize research and drive "concrete outcomes for clients."

Academic partnerships and talent pipeline

RBC signed two academic partnerships. With the University of Waterloo's Institute for Quantum Computing, the bank will establish the RBC Quantum Talent Initiative to support the next generation of quantum information science and technology talent. With the University of Toronto, RBC will focus on PhD fellowships and conference sponsorships to help develop researchers who can work on bank-relevant quantum problems.

Workforce training and technical collaboration

RBC will work with Xanadu, a Canadian photonic quantum computing company, to deliver hands-on workforce training where staff learn quantum application development using Xanadu's open-source frameworks. That program is positioned as a practical step to upskill engineers and developers so they can test quantum approaches and build small-scale applications.

RBC's announcement references a December 2025 equity investment in Photonic Inc. as its first direct hardware investment in the quantum space. The new appointments and partnerships expand that position into people, training, and security planning.

Naim Kazmi, Group Head, Technology & Operations at RBC, framed the effort as both a client-protection measure and an opportunity to help build Canada's quantum talent pipeline. Dr. Iwasawa said the bank's combination of execution experience and Canada's quantum ecosystem creates an opportunity to deliver real impact. Huda Idrees, Head of Innovation, RBC Technology, described the partnerships as a way to learn and build capabilities to turn quantum potential into client value.

Implications for financial services

RBC's program bundles research, talent development, vendor collaboration, and cryptographic migration into a single enterprise initiative. For other financial institutions, the package offers a template: appoint technical leadership, partner with academic centers to secure talent, collaborate with hardware/software vendors for hands-on training, and adopt a phased security migration plan that includes post-quantum cryptography and quantum key distribution.