CaixaBank has been selected as the only financial institution within the European consortium PIQASO (Post-Quantum Cryptography As-a-Service for Common Transmission Systems and Infrastructures), a pilot program designed to address cybersecurity challenges in the era of quantum computing. This project, led by Ubitech and supported by the European Commission, has a budget of €6.6 million and will run from January 2025 to December 2027.
Quantum Computing: A Challenge for Digital Security
Quantum computing promises to revolutionize data processing capabilities, but it also poses a threat to the traditional cryptographic algorithms that protect data transmission on the internet. PIQASO aims to develop and implement cryptographic solutions that are resistant to attacks from quantum computers, known as “quantum-resistant” algorithms.
These new solutions will include algorithms proposed by the NIST (National Institute of Standards and Technology) and will ensure the protection of keys, digital signatures, authorization, and identity management, ensuring long-term data protection.
CaixaBank’s Role in the Project
CaixaBank will lead one of the most strategic use cases of the program: security in mobile banking. The institution will test these new algorithms in communications between customer devices and its systems, ensuring authentication and privacy against potential attacks driven by quantum computing.
This leadership reinforces CaixaBank’s position as a benchmark in technological innovation within the financial sector, highlighting its commitment to cybersecurity and data protection in a constantly evolving digital environment.
European Collaboration and Track Record in Innovation Projects
The PIQASO consortium is composed of 16 European entities, including renowned institutions like the University of Tampere, Centre for Research & Technology Hellas, Universität München, and tech companies like Red Alert Labs, Abinsula, and Pal Robotics.
Since 2018, CaixaBank has participated in 14 European R&D consortia in funding frameworks such as Horizon 2020, Horizon Europe, and Digital Europe, consolidating its acceptance rate in competitive calls and its capacity for innovation.
Cybersecurity: A Strategic Priority
Cybersecurity is a fundamental pillar for CaixaBank, which has implemented a robust ecosystem with specialized teams and advanced technologies to ensure the protection of digital transactions.
Through continuous investments in technological infrastructure, the institution ensures the availability and adaptability of its financial system to meet customer needs. Additionally, CaixaBank has been a pioneer in coordinating cybersecurity measures, such as establishing a cybersecurity incident response center and participating in international security research forums.
Toward a Secure Post-Quantum Future
CaixaBank’s participation in PIQASO not only reinforces its leadership in technological innovation but also ensures its commitment to the security and privacy of its clients against the challenges of quantum computing. With this project, the institution takes a key step to guarantee trust in its digital services and maintain its position as a leader in the financial and technological sector.
Source: Caixabank