Scotiabank in Canada has begun to explore the migration to encryption methods that can keep out the hackers.
The bank is already thinking about the implications for data security and moving to quantum-safe encryption methods.
Scotiabank has yet been working with BMO Group and Toronto-based photonic quantum computing specialist Xanadu to explore how to increase the speed and accuracy of computations in trading. The proof-of-concept used an algorithm developed by Xanadu called quantum Monte Carlo and a software suite to simulate it on various trading products. (Finextra)