From Risk to Resilience:
The Quantum Preparedness Pilot
The first step toward quantum resilience
for Standard
Chartered
Overview
Preparing for the Quantum Future
Quantum computing is evolving rapidly—and with it, the risk to today’s encryption standards.
Algorithms like RSA, which currently secure financial transactions and sensitive data, could be broken
within the next decade. For banks, this presents a serious threat to data integrity, customer trust,
and regulatory compliance.
To address this challenge, Capgemini, in collaboration with Standard Chartered, launched a Proof of Concept (POC) to evaluate the performance and feasibility of Post-Quantum Cryptography (PQC). This initiative tested advanced cryptographic algorithms—ML-DSA, SLH-DSA, and Falcon—against traditional RSA encryption, using real-world payment APIs.
To address this challenge, Capgemini, in collaboration with Standard Chartered, launched a Proof of Concept (POC) to evaluate the performance and feasibility of Post-Quantum Cryptography (PQC). This initiative tested advanced cryptographic algorithms—ML-DSA, SLH-DSA, and Falcon—against traditional RSA encryption, using real-world payment APIs.
Why This POC Matters
This POC marks the first step in Standard Chartered’s quantum-safe journey. It
underscores the strategic importance of preparing for quantum threats before they become operational
risks. The findings reveal that:
- Quantum-safe algorithms are viable, but not plug-and-play.
- Performance varies significantly across algorithms, requiring thoughtful integration.
- ML-DSA shows strong promise as a primary replacement for RSA.
- Falcon is a strong contender, pending final standardization.
- SLH-DSA is suitable only as a backup, due to lower performance.
Quantum-Safe Strategy
When transitioning to quantum-safe algorithms, the roadmap has four phases
:
Discovery
Identify where your organization is vulnerable to quantum threats.
Action: Audit all cryptographic assets both internal and third-party to understand exposure and prepare for change.
Action: Audit all cryptographic assets both internal and third-party to understand exposure and prepare for change.
Adopt
Begin integrating quantum-safe algorithms into your systems.
Action: Pilot new cryptographic methods in key areas like payment APIs to assess compatibility and performance.
Action: Pilot new cryptographic methods in key areas like payment APIs to assess compatibility and performance.
Test
Validate the effectiveness of quantum-safe protocols.
Action: Ensure new algorithms meet security, compliance, and operational standards before full-scale rollout.
Action: Ensure new algorithms meet security, compliance, and operational standards before full-scale rollout.
Maintain
Stay agile as standards evolve.
Action: Continuously monitor updates from regulators and cryptographic bodies (like NIST) to keep your systems future-ready.
Action: Continuously monitor updates from regulators and cryptographic bodies (like NIST) to keep your systems future-ready.
