HKMA and HKUST launch toolkit to help banks plan their post-quantum transition

Key points: The toolkit launched on 2 November 2026. The initial Quantum Preparedness Index score was 2.3 out of 10; a score of 10 by 2030 is an industry goal, not an achieved result.

The Hong Kong Monetary Authority (HKMA) and the Hong Kong University of Science and Technology (HKUST), supported by industry participants, have launched a Post-Quantum Cryptography (PQC) Toolkit to help banks prepare for potential cybersecurity risks from future advances in quantum computing. This article is based on the HKMA release of 2 November 2026.

What does the toolkit help banks do?

It offers a planning framework and practical tools for clarifying governance and accountability, assessing cryptographic exposure, identifying transition needs and monitoring progress. Banks can inventory cryptographic assets and dependencies, set priorities, engage suppliers and develop timelines suited to their circumstances.

How prepared is the sector?

The HKMA introduced the Quantum Preparedness Index in July 2026. Its initial score of 2.3 out of 10 indicates that the sector's PQC transition remains at an early stage. The HKMA aims to support the sector in reaching 10 by 2030. This is a readiness goal, not proof that every bank has completed the transition or a statutory deadline for each bank.

What should businesses watch?

The toolkit is primarily intended for banks. Businesses working with banks can watch for information from their banks and technology suppliers on system compatibility and transition arrangements. Effects depend on individual circumstances; new obligations should not be assumed. The HKMA says the toolkit will evolve with technology, international standards and industry experience.

Source: HKMA press release. General information only; not legal, financial or cybersecurity advice. Seek qualified professional advice for your circumstances.