Annual List Recognizes Pioneering Companies Helping Financial Institutions Combat Cyber Threats and Fraud
Bethesda, Md. – June 9, 2021 – Quantum Xchange, a leader in crypto-agile, quantum-safe products and services, today announced it has been named to the CyberTech 100 list for 2021. The annual list is part of a series of studies produced by the data and research firm, FinTech Global, that helps executives in financial services sort through the noise to locate technology vendors that are most likely to have a lasting impact on the industry. Quantum Xchange was also named to the inaugural CyberTech 100 list in 2020, reinforcing the company’s continued commitment to provide cutting-edge, quantum-security solutions for future-proofing the security of data and communications networks.
The CyberTech industry for financial services has seen huge growth over the last four years as operations are increasingly moving to the cloud and organizations expand their spending on securing new digital infrastructure. Total annual investments in the sector grew from $0.7bn in 2016 to over $6.2bn last year. That’s an increase of nearly nine times and a CAGR of 72.5%.
As a result, the competition to be identified as one of the leading 100 CyberTech companies in the world was even fiercer this year. A panel of analysts and industry experts voted from a list of more than 1,000 companies produced by FinTech Global. The finalists were recognized for their innovative use of technology to solve a significant industry problem, or to generate cost savings or efficiency improvements across the security value chain.
In the recent Forbes article, Getting Big Banks to Confront the Quantum Challenge, author Arthur Herman Senior Fellow at the Hudson Institute and Director of the Quantum Alliance Initiative estimates a quantum attack on one of the five largest financial institutions in the U.S. could cost up to $1.95 Trillion and impair nearly 60 percent of total assets in the banking system. Financial firms must begin to deploy quantum-based and post-quantum resistant cybersecurity solutions today to protect their critical data, and the global financial system, from the quantum threat. Quantum Xchange provides a quantum-safe key distribution system that is deployable today, works to immediately enhance an organization’s existing crypto infrastructure, and protects data and communication networks from future threats like a quantum attack.
“Security executives working in financial services need to be aware of the latest innovation and threats in the market in order to protect client and company data as well as fend off cyber and financial criminals,” said Richard Sachar, Director at FinTech Global. “The CyberTech100 list helps them do just that and identify new technologies which will have lasting impact on the industry and attackers’ behavior.”
A full list of the CyberTech100 and detailed information for each company is available to download at www.CyberTech100.com.
About Quantum Xchange
Quantum Xchange gives commercial enterprises and government agencies the ultimate solution for protecting data in motion today and in the quantum future. Its award-winning key distribution system, Phio Trusted Xchange (TX), is uniquely capable of making existing encryption keys quantum safe and supports both post-quantum crypto (PQC) and Quantum Key Distribution (QKD) for true crypto agility and quantum readiness. To learn more about future-proofing your data from whatever threat awaits, visit QuantumXC.com or follow us on Twitter @Quantum_Xchange #BeQuantumSafe.