Tag: Banking Security
Tag search results
Threat of Quantum Computing to the Banking System
Quantum computing presents both opportunities and threats to the banking system. While it could revolutionize transaction speed and security, it also poses risks to data privacy and financial stability due to its potential to break current encryption methods. To mitigate these risks, financial institutions must invest in quantum-resistant encryption, collaborate internationally, and implement secure transition strategies. Early preparation and investment are crucial to ensuring the future security of the banking system in the face of quantum advancements.
