This Week in Fintech’s Post

Discover why banks urgently need quantum-resistant cryptography. Dive into Duncan Alexander’s insightful article exploring the transformative potential of quantum cybersecurity. Learn how to leverage quantum-safe encryption and pilot programs to fortify operations and stay ahead of emerging threats. Read now: https://lnkd.in/dW6jcwug #Banking #Quantum #Cybersecurity #Innovation 

I am thrilled to announce our latest patent award! "SYSTEM AND METHOD FOR THE PROTECTION OF CONSUMER FINANCIAL DATA UTILIZING DYNAMIC CONTENT SHREDDING" Revolutionizing Financial Security: Cyber Reliant's Breakthrough Patent Transforms Payment Card Protection. Cyber Reliant's latest patent marks a revolutionary leap in securing payment card transactions through quantum-resistant technology. Our "System and Method for the Protection of Consumer Financial Data Utilizing Dynamic Content Shredding" transforms how financial data is protected in an era where quantum computing threatens traditional encryption. This groundbreaking approach brings unprecedented security to payment card transactions by: Dynamically fragmenting financial data using quantum-resistant methods Ensuring transaction integrity even under sophisticated quantum attacks Maintaining high-speed processing while elevating security Enabling real-time protection across global payment networks For payment processors and financial institutions, this innovation eliminates the "store now, decrypt later" threat that quantum computing poses to encrypted financial data. Our patented technology disperses sensitive information across multiple secure locations, making it mathematically impossible for quantum computers to reconstruct the data without proper authorization. This quantum-secure approach revolutionizes PCI DSS compliance, providing a future-proof solution that exceeds current security standards while maintaining seamless payment processing. As financial institutions prepare for the quantum era, this technology offers immediate protection against emerging threats while ensuring long-term data security. Experience the future of financial data protection today with Cyber Reliant's quantum-secure technology. #CyberSecurity #PostQuantum #QuantumComputing #DataProtection #Fintech #InfoSec #PCIcompliance #PrivacyMatters #PaymentSecurity #ZeroTrust #CyberResilience #RegulatoryCompliance #FinancialSecurity #SecurityInnovation #ThreatPrevention #DataPrivacy #PaymentTech #DigitalTransformation #CyberInnovation #CyberReliant

Quantum computing holds immense potential to revolutionise financial services, but in the wrong hands, could also pose significant cybersecurity risks. Earlier this week, DBS inked a groundbreaking Memorandum of Understanding (MOU) with the Monetary Authority of Singapore, alongside our partners in banking and technology. This collaboration will focus on quantum security and explore the application of Quantum Key Distribution (QKD) in the financial sector. "DBS recognises the transformative potential of quantum computing," said Eugene Huang, DBS' Chief Information Officer, "but we are equally aware of the dangers this fast-developing technology can bring. This MOU is a significant step forward in safeguarding Singapore's financial sector against emerging cybersecurity threats.” DBS is committed to fuelling innovation while ensuring our banking services remain safe, secure, and resilient for our customers. “By actively participating in the development of QKD use cases, we are not only strengthening our own defenses, but also setting new standards for future-proofing our financial systems against bad actors who might seek to exploit encryption technology,” said Eugene. Learn more here: https://go.dbs.com/3SVZrbX

🚀 Thrilled to share an incredible conversation with Konstantinos Karagiannis from Protiviti Consulting at #Q2B2024! 🌌 We dove into the future of cybersecurity and the critical need for **quantum-safe cryptography**—a topic that impacts *everyone*. One of the most exciting highlights? **Lattice-based cryptography**! Konstantinos used an amazing analogy from *Interstellar*: imagine sending information into a vast multidimensional space and retrieving it securely with a unique code. This innovative approach is paving the way for protecting our data in the quantum era. 🔐✨ As quantum computing advances, transitioning to quantum-safe solutions isn’t just a tech challenge—it’s a global necessity. The work being done by leaders like Konstantinos and his team at Protiviti is shaping how we all prepare for this shift. The energy here at #Q2B is unmatched, with so many brilliant minds coming together to tackle the challenges and opportunities of quantum. Let’s embrace this future together—because moving to quantum cryptography is everyone’s problem, and solving it will take all of us. 🌍💡 Konstantinos Karagiannis #QuantumComputing #Cybersecurity #Innovation #QuantumSafe #LatticeCryptography #FutureForward #Interstellar #Protiviti #Q2B #QuantumAndBeyond

🚨 Is Your Bank Prepared for the Quantum Threat? 🚨 In an era where data is as valuable as gold, banks are the treasure chests of our society. However, with great treasure comes great threats. As technology evolves, so do the methods of those who wish to exploit it. Quantum computing represents a major leap forward in processing power, but it's a double-edged sword. 🗡️💻 The dawn of quantum computing is upon us, and with it comes a new era of cybersecurity threats that traditional digital security measures are ill-equipped to handle. Hackers dream of the day they can wield quantum computers to crack what we currently consider unbreakable encryption. Imagine the hacker's horror when they find out your bank is quantum-ready! 🛡️ Why Quantum-Ready? 🛡️ • Unprecedented Security: Quantum encryption offers a level of security that is theoretically unbreakable by conventional or quantum computers. • Future-Proof: Prepare your bank today for tomorrow's threats. • Trust: Ensure your customers that their assets are secure in a quantum future. At [Your Company Name], we're not just imagining the future; we’re building it. Our quantum encryption solutions are designed to protect banks from the quantum threat, ensuring that your treasure chest remains locked, and the hackers' nightmares become a reality. 💼 Our Promise: • State-of-the-art quantum encryption technology • Seamless integration with your current systems • Expert support team dedicated to your security Don't wait for the quantum era to catch you unprepared. Join us in making quantum threats a thing of the past. 💬 We Want to Hear From You! • What steps is your institution taking to prepare for quantum computing threats? • Do you believe quantum computing will redefine cybersecurity in banking? Comment below or message us directly to start your journey to quantum-ready security today. #QuantumComputing #CyberSecurity #Banking #FinancialSecurity #QuantumEncryption #DataProtection #FutureProof #TechInnovation #SecureBanking #DigitalTransformation #FinTech #QuantumTech #BankTech #CyberThreat #Encryption #QuantumFuture #SecureData #InnovationInBanking #TechTrend Let's secure the future of banking together. 👨💼👩💼🔐

We are more than halfway through 2024 – staying ahead of banking regulations and security compliance remains crucial. With the rapid pace of digitization, from adversarial AI to quantum computing, new cybersecurity risks are constantly emerging and driving significant regulatory activity for the foreseeable future. Stay informed on the latest key regulations, policies, and laws: https://lnkd.in/ehicXY62

Quantum Computers are set to revolutionize our cryptographic landscape, posing a significant challenge to the current digital infrastructure. As quantum computing advances, most of today's cryptographic protections will become obsolete. This threat is imminent, urging industries, especially fintech, to adapt swiftly. Our latest article, authored by Cryptographic experts Ivan Damgård, Jesper Buus Nielsen, Claudio Orlandi, Anders Dalskov and Søren Eller Thomsen dives deep into Post Quantum Cryptography (PQC) and Quantum Key Distribution (QKD), comparing their deployment ease, functionality, maturity, and security. With their extensive knowledge and insights, they provide a comprehensive analysis that is crucial for understanding and preparing for the quantum era. Discover how Partisia envisions the future of data privacy with PQC and QKD. These technologies offer quantum-proof solutions to protect sensitive information and digital signatures with long life spans, such as contracts or deeds. 👉 Read more to ensure your digital assets are secure in the quantum era. #QuantumComputing #CyberSecurity #Fintech #DigitalInfrastructure #PostQuantumCryptography #QuantumKeyDistribution #FutureTech #partisia https://lnkd.in/dV32MR3z

“Banks working together alongside technologists and regulators is going to be the key to a quantum safe future.” Spot on, Philip Intallura Ph.D ! This is what IBM is saying, too, in this recent oped by Alessandro Curioni and Ray Harishankar on the #WEF blog, in this case specifically for Europe: https://lnkd.in/eEiEV332 While traditional cryptography has been keeping our sensitive data secure for decades, with quantum computing getting ever more mature the security status quo is poised to change. Now that NIST has announced the world first post-quantum cryptography (PQC) standards, companies should start their PQC migration as soon as possible. And depending on the industry sector - be it finance, or healthcare, or any other sector where data should stay safe - companies need to work together with regulators to ensure this transition to the new standards is done across the board, and done efficiently. Only together we can protect our digital future. #cryptography #ibm #ibmresearch

It’s incredible to think about how far technology has come, and quantum computing is one of those frontiers that feels far and yet it’s rapidly becoming a reality.    As with all groundbreaking technologies, cybersecurity and cyberthreats remain a top concern. Quantum computing has the potential to revolutionise many aspects of our lives, but it also poses new risks, such as to the security of our financial systems.    Today, we signed an MoU with Monetary Authority of Singapore (MAS), SPTel Pte Ltd, SpeQtral and other leading banks to embark on quantum security collaboration and study the application of Quantum Key Distribution (QKD) in financial services. As the landscape evolves, so must our defenses, and this collaboration represents a significant step towards fortifying the financial sector against future cyber threats.    Through this collaboration, we will be conducting proof-of-concepts and trials to evaluate QKD’s effectiveness in securing financial services and enhancing our technical competencies through knowledge exchanges.    Am incredibly proud that HSBC is part of this initiative that reinforces Singapore’s position as a leader in financial innovation and cybersecurity and demonstrates our abilities to be forward-thinking in the exploration and testing of cutting-edge technologies.    Looking forward to the strides we’ll make together to build a secure and resilient financial future. Kee Joo Wong Colin Bell Ian Glasner Philip Intallura Ph.D Shayan Hazir Mun Liong Lee https://lnkd.in/gCXmfxvX

The Monetary Authority of Singapore (MAS) is collaborating with banks and technology firms to explore quantum security solutions. This initiative focuses on developing cryptographic techniques that can withstand quantum computing threats, ensuring the security of financial transactions and data. QKD, a secure communication method for exchanging cryptographic keys only known between shared parties, is seen as a key protective layer in defence aginst quantum breakthroughs. The collaboration is part of MAS's broader strategy to enhance cybersecurity in the financial sector as quantum computing technology advances. #mas #quantum #computing #finance #qkd #cybersecurity