According to the technical report, the PoC showed QKD’s potential to strengthen communication links, such as those between banks’ data centres and branch offices.
However, it also highlighted challenges. For instance, QKD providers and telecom operators must improve security assurance, including standards for tamper-resistant, auditable trusted nodes with multi-layer safeguards. Moreover, broader adoption will depend on interoperability between different QKD systems and seamless integration with banks’ IT environments.
The report further stresses the need for senior management support, dedicated budgets and in-house expertise if financial institutions are to advance quantum-safe strategies.
“MAS is committed to collaborating with the financial industry to trial promising cybersecurity technologies that can help to safeguard critical financial systems and data against emerging quantum threats. The insights gained [from the sandbox] have enhanced our understanding of QKD technology, helped explore possible ways to strengthen the cyber resilience of Singapore’s financial sector, and uplifted the capabilities of financial institutions to respond to potential cybersecurity threats posed by quantum computing,” says Vincent Loy, MAS’s assistant managing director (Technology) and chief technology officer.
