Do banks use Quant?

Could you please clarify for me, do banks actually utilize Quant in their operations? If so, how do they specifically integrate it into their financial systems? I'm curious to know if Quant provides any unique benefits or functionalities that banks find particularly valuable. Additionally, are there any specific challenges or concerns banks may have when adopting Quant? I'm interested in understanding the overall perspective of banks towards this technology and its potential impact on the financial industry.