CaixaBank participates in the pilot European programme for data protection in the post-quantum era

• The initiative, names the PIQASO project, has a budget of €6.6 million and will run from January 2025 to December 2027

• Through its participation in the project, CaixaBank strengthens its position as a benchmark for innovation in both the financial and technology sectors

• The entity has managed to be part of fourteen consortia since 2018

27 December 2024

CaixaBank has been selected, along with 15 other European companies, to participate in a European consortium focused on data protection in the post-quantum communications era. The entity, which has participated in fourteen European public-private financing consortia in recent years, will be the only financial institution to participate in the PIQASO (Post-Quantum Cryptography As-a-Service for Common Transmission Systems and Infrastructures) pilot programme.

PIQASO aims to develop optimised operational implementations for a set of cryptographic algorithms and protocols that are resistant to attacks that may be carried out by future quantum computers. These implementations will include the new quantum-resistant cryptographic algorithms proposed by the National Institute of Standards and Technology (NIST), the body responsible for proposing new attack-resistant cryptographic algorithms for future quantum computers to industry. In addition, they will provide solutions for key encapsulation, digital signatures, authenticated key exchange, authorisation, identity management and long-term data protection, providing a fully functional equivalent to the Public Key Infrastructure (PKI), which enables data to be exchanged over the Internet and the identity of the other party to be verified. 

CaixaBank will lead the use case focused on mobile banking, testing these new quantum-resistant algorithms in the communication between customers' mobile devices and CaixaBank's systems, guaranteeing data security against possible attacks using quantum computing, managing user authentication and protecting their privacy.

By participating in PIQASO, CaixaBank is strengthening its position as a benchmark for innovation in both the financial and technology sectors, as well as collaborating with technology centres, SMEs and start-ups in the European ecosystem.

In addition to CaixaBank, the project led by Ubitech also includes Tampereen yliopisto, Intrasoft International, Uni Systems, Universität München, Centre for Research & Technology Hellas, Byte, Red Alert Labs, Abinsula, Pal Robotics, Motor Oil, Biba, Tellu, Particle and Ferrocarrils de la Generalitat de Catalunya (FGC).

Participation in European projects

Aside from this consortium, CaixaBank has participated in other collaborative R&D projects in various funding frameworks of the European Commission, such as the Horizon 2020, Horizon Europe and Digital Europe programmes, which aim to ensure that Europe produces world-class science and removes barriers to innovation.

In total,  the entity has managed to be part of fourteen consortia since 2018, thanks to a high acceptance rate in the calls for proposals in which it has participated.

Cybersecurity, a strategic priority

Cybersecurity is a strategic priority for CaixaBank, which has implemented a cybersecurity ecosystem with specialised teams and advanced technology infrastructure to protect digital transactions from security incidents.

The bank invests in technology to meet customer demands, guarantee growth, adaptability to business needs and the permanent availability of information on an ongoing basis. As a result, it ensures full adaptation of its infrastructure to the needs arising from financial management and servicing of customers. ​

CaixaBank is a pioneer in security research and coordination, having introduced measures such as creating a specialised group for responding to IT security incidents, and a centre that coordinates the overall security of the entire Group. Furthermore, it is a member of the main international cybersecurity research and collaboration forums.