OCBC to Triple Quantum Workforce to Boost Security

Asian Banking and Finance | 13 December 2024

The Singapore bank expects significant tech advancements in the next five to 10 years.

Peter Koh, head of group technology architecture, OCBC.

Oversea-Chinese Banking Corp. Ltd. (OCBC) is tripling the number of workers in quantum computing as it tries to boost security using the technology that it expects to take off in as short as five years.

“The potential of quantum technology is twofold — it can enhance the protection of banking systems but can also render such protection useless if the technology is in the wrong hands,” Peter Koh, head of group technology architecture at OCBC, told Asian Banking & Finance.

“It is therefore essential for banks to not just explore and experiment with quantum technology, but to take charge of it,” he added.

The Singapore-based bank has been exploring quantum technology, when it outlined its quantum roadmap. Part of the plan is to establish a “quantum-ready workforce.”

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