LGT Financial Services grounds post-quantum migration in live banking pilot
Post-quantum migration can become unmanageable when enterprises treat every cryptographic dependency as a single replacement project. As organizations move from quantum awareness to implementation, the transition reaches across applications, infrastructure and suppliers, making coordination as important as algorithm selection. At LGT Financial Services AG, quantum safety entered formal risk…
LGT Financial Services has halted progress on its post-quantum migration within a live banking pilot, highlighting the complexity of the task. The company's approach to quantum safety has evolved into a full-fledged risk management issue, requiring coordination across multiple departments and vendors. At the firm's 2022 risk and cyber risk management meeting, the topic was raised, leading to the creation of a Quantum Safe Competence Center.
This center facilitates communication between security operations, architecture, public key infrastructure, application owners, vendors, and risk stakeholders. Christian Pfister, team leader of the center, emphasized that quantum safety involves ensuring the confidentiality of information long enough to withstand future cryptographic advances.
Early technical work involved modernizing Transport Layer Security and testing hybrid key exchange methods, which have been successfully implemented in the online banking system without disruption. However, the pilot revealed interoperability issues that necessitated end-to-end testing, as isolated server or component testing may not reveal all problems.
The company's strategy involves a series of migration waves rather than a single project or algorithm change, with individual teams responsible for their implementation under the guidance of the competence center.
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