C-DAC and Bank of India partner on quantum-safe banking technology

The Centre for Development of Advanced Computing (C-DAC) and Bank of India (BOI) have signed a memorandum of understanding to develop indigenous quantum and quantum-safe technologies for the financial services sector. The collaboration focuses on joint research, development, and pilot projects to strengthen banking cybersecurity and operational resilience.

The partnership aims to prepare financial systems for security challenges posed by advances in quantum computing. Beyond quantum solutions, the organizations will explore applications for artificial intelligence, blockchain, and other emerging technologies, including intelligent document processing, fraud analysis, credit analytics, and secure data sharing.

This initiative is part of a broader strategic effort in India to secure financial infrastructure. Recent moves include the inauguration of the Reserve Bank of India’s new data centre and Cybersecurity Training Institute in Bhubaneswar to geographically diversify critical infrastructure, as well as the formulation of a Financial Sector Cyber Security Strategy to enhance preparedness across both commercial and regional rural banks.