Shaping the Future of Crypto

A newly released report by Europol, in collaboration with key financial bodies, outlines a strategic plan for the financial sector to transition to post-quantum cryptography. This move comes as advancements in quantum computing pose imminent threats to existing encryption methodologies.

Published on January 21, 2026, the report titled ‘Prioritising Post-Quantum Cryptography Migration Activities in Financial Services’ offers a structured approach for financial institutions to prepare for future cryptographic environments. It introduces a prioritization framework that assists in identifying critical systems and business scenarios that should be addressed promptly based on quantum-related risks and the complexity of implementing secure solutions.

The methodology integrates various factors including the sensitivity and anticipated duration of protected data, exposure levels to potential cyber-attacks, and the potential business impacts of security breaches. Additionally, it considers practical aspects such as the availability of solutions, costs of implementation, and dependencies on external parties. This framework aims to help organizations differentiate between scenarios requiring long-term planning and those amenable to immediate action with minimal disruption.

Supporting this transition, the report suggests immediate steps like deploying hybrid post-quantum encryption for public-facing websites and eliminating weak or outdated cryptographic practices. These actions are described as “no-regret” moves that enhance current security measures while setting the groundwork for a smoother transition to quantum-resistant technologies.

Developed in cooperation with the financial community, the initiative is part of the broader Quantum Safe Financial Forum (QSFF) established by Europol’s European Cybercrime Centre in 2024. This collaborative effort underscores the necessity for early risk identification, vendor alignment, and integration into ongoing risk management frameworks, aiming for a cohesive and secure transition across Europe’s financial landscape.