Recent strides in quantum computing have posed a challenge to conventional classical cryptographic algorithms like RSA and Elliptic Curve Cryptography (ECC).With the progression of quantum computing, there is a possibility of vulnerability to traditional cryptography in the future, leading to significant concerns from the perspective of the security of the banking industry.In this survey, we will review the adoption of Post-Quantum Cryptography (PQC), focusing on specific schemes like CRYSTALS-Kyber or CRYSTALS-Dilithium, together with an approach involving hybrid cryptosystems, ensuring seamless implementation.In addition, several challenges related to computational costs, difficulties of integration, and the growing significance of flexible deployment of cryptography will be considered.In summary, the objective of the research is to help financial institutions and scholars determine efficient quantum-safe security systems that offer protection for banking APIs.
Recent strides in quantum computing have posed a challenge to conventional classical cryptographic algorithms like RSA and Elliptic Curve Cryptography (ECC).With the progression of quantum computing, there is a possibility of vulnerability to traditional cryptography in the future, leading to significant concerns from the perspective of the security of the banking industry.In this survey, we will review the adoption of Post-Quantum Cryptography (PQC), focusing on specific schemes like CRYSTALS-Kyber or CRYSTALS-Dilithium, together with an approach involving hybrid cryptosystems, ensuring seamless implementation.In addition, several challenges related to computational costs, difficulties of integration, and the growing significance of flexible deployment of cryptography will be considered.In summary, the objective of the research is to help financial institutions and scholars determine efficient quantum-safe security systems that offer protection for banking APIs.
As quantum computing advances, current cryptographic protocols are increasingly vulnerable to quantum attacks, particularly those based on Public Key Infrastructure (PKI) like RSA or Elliptic Curve Cryptography (ECC). This paper presents a comprehensive review of Post-Quantum Cryptography (PQC) as a solution to protect digital systems in the quantum era. We provide an in-depth analysis of various quantum-resistant cryptographic algorithms, including lattice-based, code-based, hash-based, isogeny-based, and multivariate approaches. The review highlights the National Institute of Standards and Technology (NIST) PQC standardization process, highlighting key algorithms, such as CRYSTALS–Kyber, CRYSTALS–Dilithium, Falcon, and SPHINCS+, and discusses the strengths, vulnerabilities, and implementation challenges of the leading algorithms. In addition, we explore transition strategies for organizations, emphasizing hybrid cryptography to ensure backward compatibility during migration. This study offers key insights into the future of cryptographic standards and the critical steps necessary to prepare for the transition from classical to quantum-resistant systems.
Quantum computing threatens classical cryptographic systems, particularly those used in financial security infrastructures. This paper explores the implementation of post-quantum cryptography (PQC) in financial systems, addressing the vulnerabilities of traditional schemes such as RSA, ECC, and Diffie-Hellman. It examines NIST’s standardized PQC algorithms, including Kyber for key exchange and Dilithium and Falcon for digital signatures. The study highlights the role of hybrid cryptographic approaches in ensuring a seamless transition, with a focus on post-quantum TLS 1.3 for secure financial communications. Additionally, blockchain security is analyzed with SPHINCS+ for quantum-resistant signatures. The paper reviews existing research on PQC adoption in financial applications, emphasizing security, performance, and regulatory considerations. The findings underscore the necessity of proactive PQC integration to safeguard financial transactions against quantum threats.
The advance of quantum computing poses significant risks to traditional cryptographic systems, including RSA and ECC, due to algorithms such as Shor's, prompting an urgent need for robust post-quantum cryptography (PQC) solutions. This paper presents a systematic review of PQC algorithms, encompassing lattice-based, code-based, multivariate polynomial, hash-based, and supersingular isogeny-based cryptography. By evaluating recent publications and NIST standardization efforts, we assess these approaches in terms of quantum resistance, computational efficiency, scalability, and implementation challenges. Lattice-based schemes, notably CRYSTALS-Kyber, excel in quantum-secure encryption and performance, whereas codebased systems like McEliece are hindered by large key sizes. Hash-based signatures, such as SPHINCS+, and isogeny-based protocols, including SIDH, provide promising alternatives but require further optimization to reduce computational overhead. Our analysis highlights the potential of hybrid PQC methods and lightweight hardware implementations for securing emerging domains like IoT, blockchain, and financial systems. The review serves as a foundational resource for researchers and practitioners, advocating the adoption of quantum-resistant cryptography to preserve data confidentiality, integrity, and authenticity in the quantum era.
Quantum computers are growing faster every year, and that progress puts today’s classical encryption at serious risk. Once these machines reach full power, staple protocols like RSA and elliptic-curve cryptography SSDs become tomorrow's digital lockpicks, threatening the secrecy of everyday online banking. In response, many researchers are rallying behind post-quantum cryptography (PQC), a fresh toolkit meant to shrug off quantum decoding tricks. This paper examines how prepared the banking world is for that shift, using a systematic review of literature, pilots, regulations, and benchmarks issued between 2018 and 2025. Results show firms are already alert, testing hybrid systems alongside NIST-approved lattice schemes such as CRYSTALS-Kyber and Dilithium on the road to safer financial transactions. Serious roadblocks linger, such as sluggish system speed, outdated code that cant easily swap algorithms, and a design process that ignores most users. On top of that, regulators and intergovernmental groups are stepping up to define what quantum-proofing looks like and when banks must do it. The paper therefore argues that hooking post-quantum cryptography into everyday banking is doable, and the industry cares about it, yet it still needs joint spending on new hardware, clear rules, and tutorials for customers. Suggested actions are to build crypto-agile platforms, roll out mixed classical-plus-quantum methods in the meantime, and get all players talking so that online and mobile payments stay safe, smooth, and ready for whatever the quantum future brings.
Quantum computing is rapidly advancing and threatens the cryptographic systems that secure digital communications. Classical cryptosystems, such as RSA and ECC, rely on mathematical problems that are difficult for classical computers but can be solved easily by quantum algorithms, such as Shor’s. This challenge underscores the pressing need for Post-Quantum Cryptography (PQC) to safeguard data against both classical and quantum threats. This study provides a comprehensive review of PQC Approaches in securing data against quantum threats by analyzing reviewed journals, conference proceedings, book chapters, and websites. Several researchers reviewed relevant literature published between 2019 and 2026 using the ACM Digital Library, Wiley Online Library, Taylor & Francis, Springer, ScienceDirect, MDPI, IEEE Xplore Digital Library, and Google Scholar. The review evaluates lattice-based, code-based, Hash-based, multivariate, and isogeny-based schemes across security strength, performance, interoperability, and deployment feasibility in heterogeneous environments, including cloud platforms and Internet of Things devices. The findings indicate that lattice-based schemes, particularly CRYSTALS-Kyber and CRYSTALS-Dilithium, currently offer the most balanced trade-off between efficiency and quantum resistance, while Hash-based schemes such as SPHINCS+ prioritize conservative security at notable performance cost. Code-based approaches, including McEliece, demonstrate strong long-term security but remain constrained by large key sizes. The review highlights implementation, energy, migration, and governance barriers that must be addressed before adoption. The review concludes by emphasizing that transitioning to PQC requires a collaborative effort from academia, industry, and government. Future research should focus on integrating lightweight PQC in IoT, 5G/6G, and cloud environments, as well as developing hybrid models that combine classical and quantum-safe systems. Addressing these issues is crucial for establishing secure data protection in the quantum era.
The threats are existential to the traditional cryptosystems of public keys, including RSA, Diffie-Hellman, and elliptic curve cryptography (ECC), due to the rapid progress in quantum computing. Such algorithms as the Shor and Grover algorithms prove that as soon as large scale quantum computers are achieved, these classical cryptographic protocols will not provide any privacy and integrity to online communication. This has created an emergency to find post-quantum cryptography (PQC), or quantum-safe cryptography, which will resist attacks by both classical and quantum attackers. The paper is a review of the latest research and development in post-quantum cryptographic algorithms and their implementation in current security systems. We organize quantum-safe methods into significant organizations such as lattice-based, hash-based, multivariate polynomial-based and code-based encrypted communications. Each type has been evaluated critically based on computational efficiency, key sizes, speed of encryption/decryption and security proofs. The survey also examines the current standardization activities happening in the world and especially the U.S. National Institute of Standards and Technology (NIST) PQC competition, which lists candidate algorithms that have advanced to standard adoption. Besides this, the paper addresses hybrid cryptographic designs that use both classical and post-quantum bases in ensuring a seamless migration in the transition phase. Internet security protocols like TLS, VPNs and blockchain consensus as applications of PQC are examined in detail. Lastly, we pinpoint open research issues, which include creating lightweight PQC to support resource-constrained IoT devices, balancing performance and strong security assurances, and interoperability between the new PQC algorithms and existing infrastructures. Through detailed survey we inform the future of researchers, practitioners, and policymakers on the preparation of the post-quantum era of secure digital communications.