Accenture, QuSecure Set Bank on Quantum-Secure Path

Spanish bank Banco Sabadell has taken a step toward preparing for the quantum computing era by collaborating with Accenture and QuSecure to plan how to incorporate post-quantum cryptography (PQC) technologies into its infrastructure.

The four-month initiative focused on bolstering the bank’s defenses against potential quantum-based cyberattacks by implementing cryptographic agility and modernizing encryption processes.

The project used QuSecure’s software and open-source cryptographic libraries to orchestrate and upgrade Banco Sabadell’s encryption framework. This provided the bank with a roadmap for transitioning to quantum-resilient systems, reinforcing its proactive approach to quantum security.

“Cryptography plays a crucial role in banking, securing processes such as payments, digital interactions with customers and communications with market infrastructure. It is also essential for protecting sensitive information,” said Banco Sabadell group chief information security officer Joan Puig.

“As we transition into a post-quantum computing era, the challenges include identifying the use of cryptographic methods vulnerable to quantum attacks and transitioning to quantum-safe cryptography with agility and efficiency. This project, in collaboration with Accenture and QuSecure, has allowed us to explore the impact of the adoption of post-quantum cryptography technologies on the bank's infrastructure.”

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The urgency for quantum-safe systems is underscored by warnings from the Financial Services Information Sharing and Analysis Center, which advises that transitioning to crypto-agile systems is a long-term endeavor requiring immediate action. As quantum computing advances, traditional cryptographic methods risk becoming obsolete, exposing sensitive data to unprecedented vulnerabilities.

Accenture’s emerging technology security lead, Tom Patterson, highlighted the significance of the project.

“Our quantum security expertise and test labs enabled Banco Sabadell to develop a clear, actionable plan for adopting quantum-safe technologies aligned with the latest National Institute of Standards and Technology PQC standards,” Patterson said.

“This collaboration reflects our commitment to helping organizations mitigate emerging quantum threats and gain a competitive edge in the security landscape.”

Quantum computing has the potential to break current encryption protocols, requiring a paradigm shift in cybersecurity. To address these risks, organizations must develop and implement quantum-resistant algorithms while reevaluating their security frameworks.

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By adopting PQC technologies, Banco Sabadell aims to maintain the integrity and confidentiality of its digital communications and customer data as the quantum era approaches.

“QuSecure enhances encryption agility at the network layer, allowing enterprises to protect themselves without replacing existing infrastructure,” said QuSecure senior vice president of customers and ecosystems Elizabeth Green.

“This project demonstrates that transitioning to quantum-safe standards in complex environments is achievable and can be completed well before NIST’s anticipated deprecation of key algorithms.”