HSBC is the first bank to join BT and Toshiba’s quantum-secured metro network – connecting two UK sites using Quantum Key Distribution (QKD) to prepare its global operations against future cyber threats. This technology will be trialed in multiple scenarios, including financial transactions, secure video communications and one-time-pad encryption, as well as AWS edge computing capabilities using an AWS Snowball Edge device.
HSBC will trial the quantum secure transmission of test data over fiber-optic cables between its global HQ in Canary Wharf and a data center in Berkshire, 62km away. QKD is an important technology that uses particles of light and the fundamental properties of quantum physics to deliver secret keys between parties. These keys can be used to encrypt and decrypt sensitive data and are safe from eavesdroppers or cyber-attacks by quantum computers.
CEO of HSBC Bank and HSBC Europe, Colin Bell said in a statement: “Our customers, clients and employees expect us to have safe and secure operations and resilient cybersecurity, so we must stay ahead of the curve. 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.”
The insight generated by HSBC’s exploration of quantum-secure communications could have far-reaching implications for the bank – providing crucial evidence into the advantages of quantum technology and driving the development of applications in financial cybersecurity. HSBC’s quantum scientists, cyber-crime experts and financial specialists will be better able to analyze the potential threat posed by powerful quantum computers and devise strategies to safeguard sensitive information.
Shunsuke Okada, corporate senior vice president and chief digital officer at Toshiba, said in a statement: “Toshiba has been supporting the advancement of quantum technologies for more than 30 years, including the development of our QKD quantum-safe security solution. Collaboration and partnerships play a key role in this. The commercial trial – which brings together Toshiba’s QKD technology, AWS’ edge compute services, and Toshiba and BT’s quantum secure metro network, will deliver secure and effective communications for HSBC. This quantum-secured connection that leverages AWS edge compute services in a commercial network represents a milestone moment in the adoption and commercialization of quantum-secure networks.
AWS vice president of Engineering, Bill Vass, said in a statement: “Quantum Networking is a core pillar of AWS’s quantum strategy to explore quantum technologies and bring new solutions to customers. This proof-of-concept is an exciting and important step toward understanding the commercial viability and scaling required to move quantum networking forward from the lab to the real world. HSBC is a great example of an innovator preparing for the quantum era. By investing in and developing quantum-resistant cryptography strategies today, they are laying the groundwork to establish highly secure communication approaches for the future and keeping data security a top priority for customers.”
HSBC’s quantum strategy includes trials of Quantum Key Distribution (QKD) and Post Quantum Cryptography (PQC). HSBC is also exploring applications in quantum computing across optimization, simulation, and machine learning.