Advances in Quantum-Secure Banking: Cryptographic Solutions

Timothy Olatunji Ogundola *

Ladoke Akintola University of Technology, Chemical Engineering, Ogbomosho, Oyo State, Nigeria.
 
Review
International Journal of Science and Research Archive, 2020, 01(01), 228-230.
Article DOI: 10.30574/ijsra.2020.1.1.0048
Publication history: 
Received on 20 October 2020; revised on 24 December 2020; accepted on 28 December 2020
 
Abstract: 
Quantum computers are moving so quickly that they now threaten the cryptographic tools banks rely on every day. Shorts algorithm alone puts RSA and ECC at risk, and even Grovers speed-up shortens the lifespan of most symmetric keys. Faced with these dangers, the finance industry must switch to quantum-safe schemes without delay. This study reviews the newest post-quantum options that are being built for payments, lending, and other banking functions. Drawing on NISTs standardization work, live pilots at top banks, and head-to-head tests of lattice, code, multivariate, hash, and isogeny methods, we map out practical upgrade paths. Our analysis finds that lattice packages such as CRYSTALS-Kyber and Di lithium strike the best balance of performance and maturity today, while hybrid setups and crypto-agility keep systems future-proof. We therefore urge firms to roll out new algorithms in stages, work with regulators, and share lessons across the sector so they remain secure in a quantum world.
 
Keywords: 
Quantum Computing; Post-Quantum Cryptography; Secure Banking; Lattice-Based Cryptography; Hybrid Models; NIST; Crypto-Agility
 
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Copyright © 2020 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0