G7 Cyber Expert Group releases roadmap for post-quantum cryptography transition in financial services
On January 12, the U.S. Treasury, a co-chair of the G7 Cyber Expert Group, announced that the group had published a roadmap designed to guide financial institutions, authorities, and technology vendors in planning a coordinated transition to quantum-resilient cryptographic systems. The group emphasized the need for coordinated action, noting that quantum computers could soon break widely used cryptographic protocols that protect financial systems and consumer data. The roadmap outlined a flexible, risk-based approach for migration, emphasizing that organizations should prioritize critical systems and collaborate across jurisdictions to ensure interoperability and resilience. The roadmap also recommended that organizations tailor timelines and implementation approaches to their risk profiles and operations contexts.
The roadmap referenced the growing international consensus around a target date of 2035 for completing migration to quantum-resistant cryptography, with critical systems prioritized for earlier transition. The group encouraged financial entities to begin planning and implementation as soon as validated products and standards become available, stressing the importance of cryptographic agility to address emerging threats.