Bank wants to co-innovate to prove further use cases, demonstrating the power of quantum communications
HSBC has become the first bank to join BT and Toshiba’s commercial trial quantum-secured metro network, working in collaboration with Amazon Web Services (AWS). The bank will trial the quantum secure transmission of test data over fibre-optic cables between its global HQ in Canary Wharf and a data centre in Berkshire, 62km away.
Quantum Key Distribution (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.
The technology will be trialled in multiple scenarios as the bank works on new ways to protect its global operations including financial transactions, secure video communications and one-time-pad encryption, as well as AWS edge computing capabilities using an AWS Snowball Edge device.
BT installed the UK’s first quantum-secured industrial network with Toshiba. That network linked the National Composites Centre (NCC) and the Centre for Modelling and Simulation (CFMS) in Bristol, in south-west England. The 6km infrastructure joins smart production facilities and uses quantum key distribution (QKD) for “ultra-secure” data transmission.
Last year, BT and Toshiba announced EY as its first commercial customer to connect using quantum secure data transmission between its major London offices. The new London secure metro network can connect numerous customers across the city, helping them to transmit data securely between multiple physical locations over standard fibre optic links using QKD.
HSBC’s quantum strategy includes trials of QKD and Post Quantum Cryptography (PQC). HSBC is also exploring applications in quantum computing across optimisation, simulation, and machine learning.
Next era of security
“This trial enables global industry partners to collaborate on the next era for network security. We look forward to co-innovating to develop and prove further use cases, demonstrating the power of quantum communications in the UK and worldwide,” said BT chief security and networks officer Howard Watson.
HSBC Bank and HSBC Europe CEO Colin Bell said: “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.”
He added that HSBC’s quantum scientists, cyber-crime experts and financial specialists will be better able to analyse the potential threat posed by powerful quantum computers and devise strategies to safeguard sensitive information.
In the future, experts predict QKD will play a key role in protecting financial transactions, client data and proprietary information across the financial sector. HSBC processed 4.5 billion payments for its customers last year, worth an estimated value of £3.5 trillion. These electronic payments rely on encryption to protect customers and businesses from cyber-attacks.
AWS VP of Engineering Bill Vass said: “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.”
Toshiba Corporation corporate senior VP and chief digital officer Shunsuke Okada said: “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.