MADRID and NEW YORK, December 16, 2024 -- Banco Sabadell has successfully completed a joint project with Accenture and QuSecure to explore the adoption of Post-Quantum Cryptography (PQC) technologies in the bank’s infrastructure. This project is a significant step forward in bolstering resistance to quantum attacks, with Banco Sabadell leveraging QuSecure’s software for crypto agility and open-source libraries to modernize and orchestrate encryption.

The collaboration between Banco Sabadell, Accenture and QuSecure resulted in a comprehensive understanding of the steps required for the bank to become quantum-resilient and provided an initial estimation of how quantum security technologies can be adopted. The successful completion of the four-month project further demonstrates the organization's commitment to staying ahead of advancements in the quantum security race.

“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. 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,” explains Joan Puig, Group CISO of Banco Sabadell. “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.”

According to the Financial Services Information Sharing and Analysis Center (FS-ISAC) the transition to crypto agility must start immediately and is a long-term strategy, not a one-time implementation.

"We are excited to be collaborating with Banco Sabadell and QuSecure on this groundbreaking project," said Tom Patterson, emerging technology security lead at Accenture. "Our expertise in quantum risk and our quantum security test labs enabled Banco Sabadell to gain a competitive edge with a clear and proven roadmap for transitioning to quantum-safe technologies incorporating the latest NIST PQC standards. This collaboration underscores our commitment to helping organizations safeguard their data from emerging threats posed by the rapid quantum computing advancements.”

“QuSecure is advancing encryption agility and security at the network layer,” said Elizabeth Green, SVP of Customers and Ecosystems at QuSecure. “This is the fastest and easiest way to protect enterprises without having to rip and replace existing infrastructure. Working with Accenture and Banco Sabadell was a delight and proves that mitigation of existing encryption to Post Quantum Standards for complex environments is possible and can be achieved expediently this decade, in advance of NIST recommended deprecation of many major algorithms.”

The rise of quantum computing challenges modern-day cryptography. Preparing and adapting cryptographic methods to withstand the power of quantum technologies involves developing quantum-resistant algorithms and reevaluating current security protocols. Proactively addressing these concerns is crucial for maintaining the integrity and confidentiality of digital communications in the quantum era.