The Hong Kong Monetary Authority (HKMA) has launched its first Quantum Preparedness Index (QPI) to benchmark the banking sector’s readiness for the transition to post-quantum cryptography (PQC).
Introduced alongside a new whitepaper at the FiNETech8 event on 27 July, the index shows the sector is in the early stages of preparation with an initial score of 2.3 out of 10.
Developed under the HKMA’s Fintech Promotion Blueprint, the QPI is intended to help banks understand the implications of quantum computing and prepare for related cyber risks.
Sector readiness and planning
The whitepaper features findings from a survey conducted in early 2026, assessing banks across awareness, planning, pilots, and practical preparedness.
Results highlight an uneven landscape: while 68% of banks show awareness or are moving towards planning and piloting stages, 32% have not yet begun their transition.
Roughly half of the surveyed banks currently have no formal post-quantum planning in place.
Despite the nascent state of practical implementation, board-level awareness is also emerging.
About half of the banks surveyed have discussed quantum computing at the board level, while one-third have started exploring or piloting related initiatives, according to the HKMA.
Reaching full preparedness by 2030
The HKMA has set a target of achieving full sectoral readiness, defined as a QPI score of 10, by 2030.
During the transition to PQC, banks must continuously improve their cyber resilience, technology maturity, and innovation capabilities, the regulator said.
To support the industry, the HKMA is co-developing a PQC toolkit with the School of Business and Management at The Hong Kong University of Science and Technology.
Designed to help banks prioritise their transition planning, the toolkit will also enhance cryptographic agility.
The regulator will also hold a series of workshops to help banks build capability, strengthen preparedness for PQC, and explore the future use of quantum technologies in a responsible manner.
Featured image credit: Edited by Fintech News Hong Kong, based on image by HKMA
