HSBC Trials Advanced Quantum Data Security to Guard Against Future Hacks

[Sophie Robert]

HSBC is leading the way as the first British bank to test an advanced information security system developed by BT Group, Amazon’s AWS cloud, and Toshiba.

• Quantum key distribution could be part of future cybersecurity
• Quantum computers could render current encryption useless

This cutting-edge system employs quantum keys to protect against cyber attacks, safeguarding billions of dollars in transactions. With the potential obsolescence of current encryption methods due to quantum computers, the finance industry is actively investing in sophisticated cybersecurity measures. HSBC’s Chief Information Security Officer, Richard Cebron, emphasized the bank’s commitment to outsmarting cybercriminals and maintaining a proactive stance against cybercrime.

Previous banks who adopted this -
HSBC isn’t the first bank to consider quantum key distribution as a potential long-term security method; JPMorgan Chase said last year it had “demonstrated the ability of the newly developed QKD network to instantly detect and defend against eavesdroppers” as part of a system also involving Toshiba.

Official announcement - https://www.hsbc.com/who-we-are/businesses-and-customers/hsbc-and-quantum

Tweet - https://twitter.com/business/status/1676400880080355328

[cryptoworld1]

HSBC tests quantum tech in London to guard against future hacks.HSBC isn’t the first bank to consider quantum key distribution as a potential long-term security method; JPMorgan Chase said last year it had “demonstrated the ability of the newly developed QKD network to instantly detect and defend against eavesdroppers” as part of a system also involving Toshiba.