Quantum computing is no longer a distant dream — it’s a rapidly advancing reality that promises to revolutionize industries, including finance. Around the world, governments and private enterprises are investing billions in this transformative technology, betting on its potential to solve problems that are currently beyond the reach of even the most powerful classical computers. But with this promise comes a profound risk: quantum computers threaten to undermine the cryptographic foundations that keep our financial systems secure.

Today’s digital trust relies on public-key cryptography, with algorithms like RSA and Elliptic Curve Cryptography forming the backbone of secure transactions and data protection. These systems, however, are vulnerable to the immense computational power of quantum machines. Once quantum computers reach a certain threshold, they could render current encryption methods obsolete, exposing financial institutions to risks of data breaches, financial loss and reputational harm.

The urgency to act is clear. A reactive approach to cybersecurity is no longer sufficient in the face of quantum threats. Financial organizations must proactively plan for a future where quantum-safe practices are the norm. This means exploring and adopting quantum-safe technologies, such as Post-Quantum Cryptography and Quantum Key Distribution, and preparing for a migration away from classical cryptographic systems. Early adopters will be best positioned to protect their assets and maintain resilience as the quantum era approaches.

This white paper aims to cut through the hype and provide a clear-eyed, evidence-based assessment of the quantum threat landscape, with practical guidance for financial institutions on how to navigate the technological, operational and regulatory complexities of quantum migration. By acting now, organizations can ensure the integrity of encrypted communications, secure payment systems and safeguard sensitive customer data — laying the groundwork for a secure financial future in a quantum world.