Post-Quantum Cryptography for Secure Banking Transactions

Abstract

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 postquantum 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 Serious roadblocks linger, such as sluggish system speed, outdated code that cant easily swap algorithms, and a design process that ignores most users.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.