HSBC has become the first bank to join a quantum-secured metro network run by BT and Toshiba in collaboration with Amazon Web services (AWS).
The bank will now trial the secure connection between its headquarters in Canary Wharf and a data centre in Berkshire 62 kilometres away. The connection uses quantum key distribution (QKD) technology to secure its operations against future cyber threats.
QKD technology uses particles of light and the fundamental properties of quantum physics to deliver secret keys between parties. HSBC said these keys can be used to encrypt and decrypt sensitive data and are safe from eavesdroppers or cyber attacks by quantum computers.
The technology will be tested for use in multiple scenarios including financial transactions and secure video communications.
The bank said that its exploration into QKD technology could drive the development of applications in financial cyber security. HSBC hopes that the research from the trials will help it understand the threats posed by quantum computers and help it to devise strategies to protect sensitive information.
“Our customers, clients and employees expect us to have safe and secure operations and resilient cybersecurity, so we must stay ahead of the curve,” said Colin Bell, chief executive of HSBC Bank Plc and HSBC Europe. “That is why we are already preparing our global operations for a quantum future.
“We are spearheading industry-leading trials, recruiting highly trained experts, and investing in strong, strategic partnerships to explore how we could deploy these technologies as they develop.”
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