Quantum toolkit targets banks’ 2.3-out-of-10 readiness gap
The Hong Kong Monetary Authority (HKMA) and The Hong Kong University of Science and Technology (HKUST) launched a Post-Quantum Cryptography Toolkit for banks. It supports transition planning toward a quantum readiness score of 10 by 2030.
From exposure to transition plans
Launched on November 2, 2026 with industry support, the Post-Quantum Cryptography (PQC) Toolkit gives banks a structured framework for planning their transition.
It covers governance and accountability, cryptographic exposure, transition needs and implementation monitoring.
Practical tools help banks inventory cryptographic assets and dependencies, set priorities, engage suppliers and develop transition timelines.
The HKMA introduced its Quantum Preparedness Index (QPI) in July 2026 to assess readiness for quantum-safe cryptography.
The initial score was 2.3 out of 10, indicating an early stage of preparedness.
The toolkit supports the sector’s goal of full quantum readiness, defined as a QPI score of 10 by 2030.
Leadership before the threat arrives
HKMA Deputy Chief Executive Arthur Yuen said banks need clear responsibilities, informed priorities and practical plans tailored to their circumstances.
Professor Frederik Anseel, Dean of HKUST’s School of Business and Management, described quantum preparedness as a leadership challenge despite uncertainty over the threat’s timing.
He advocated manageable steps and learning from trials.
The collaboration combines supervisory experience, academic expertise and industry input, spanning cybersecurity, cryptography, finance, economics, governance and technology applications.
Readiness requires sustained work
The HKMA presents the toolkit as a way to turn awareness into action, not as proof of readiness.
Banks can access it through the HKMA’s Fintech Knowledge Hub.
Updates will reflect technological developments, international standards and industry implementation experience.