The growth of technology has increased the exposure of data security breaches, and most large organizations struggle with forming solid security strategies. While doing their best to keep their systems protected, they must face various challenges to change any part of their security infrastructure in the long term. Many companies deliver rapid deployment of solutions for analytics and risk management that seamlessly integrate with various processes and scale to support a firm’s growth.
One such organization leveraging industry standards to provide top-notch, interoperable products for data protection is QuintessenceLabs Pty Ltd, founded in 2008. The company takes pride in providing data security solutions and associated management without needing complete rethinking of the enterprise security system.
QuintessenceLabs thinks beyond traditional security system norms and is aware of the need to be ‘quantum-safe’ in all aspects of cybersecurity. The company offers a full range of advanced data protection and cybersecurity solutions. These solutions are cost-effective, easy to deploy, and enable organizations to protect their data for now and in the future. The company delivers the strongest data protection, through its advanced key and policy management solutions in any business sector where cybersecurity is of greater significance.
The QuintessenceLabs team is comprised of experts in quantum physics and software development. This team helps in delivering highly capable solutions that strengthen an organization’s data protection posture, while integrating seamlessly into existing architectures. The company forms the foundational layer of data protection that is a fundamental part of any security strategy.
This year, QuintessenceLabs was named a Tech Pioneer by the World Economic Forum, and was specifically selected for significant contributions in the field of data protection. The company’s focus on, again, being ‘quantum-safe’ was a key reason for the award — the World Economic Forum’s 2018 Risk Report noted that cybersecurity risks are growing to be the third most likely global risk behind “Natural Disasters” and “Extreme Weather Events.” This problem will worsen in the years ahead as quantum computers, which will yield significant benefits in the field of medicine, communications and beyond, will also threaten the foundation of today’s cybersecurity methods.
The Pillar of QuintessenceLabs
Vikram Sharma, CEO at QuintessenceLabs recognized the potential of quantum cybersecurity and had a vision to commercialize the technology. His work in the Department of Physics at Australian National University with the Quantum Optics Group and their world-leading research led to the establishment of QuintessenceLabs. Today, his constant efforts have positioned the company at the forefront of the cybersecurity sector.
Under the expert guidance of Vikram, the company’s capabilities have been recognized at several Australian and international events. Most recently, the company was named a Technology Pioneer 2018 by the World Economic Forum, and last year it was named one of the Top 20 Businesses of Tomorrow by Westpac. Previously, it was Global Runner-up from a pool of 2,500+ companies in IBM’s SmartCamp competition and named as Australia’s Most Innovative Small Company by the Australian Information Industry Association. The company was selected by the Security Innovation Network as one of its SINET16 Cyber Security Innovators. Cybersecurity Ventures named QuintessenceLabs in its list of the World’s Most Innovative Cybersecurity Companies.
Innovation for the Financial Industry
Westpac Group, Australia’s oldest bank, is one of the key partners and investors of QuintessenceLabs. The partnership naturally puts the company on track providing the best data protection for financial organizations and most of the sensitive industries. This enables the company to deliver solutions that protect highly confidential personal and financial data at rest, in motion, or in use. The company can then power on-premise protection and enhance the security of cloud data.
Unique Services Benefiting Clients
The General Data Protection Regulation (GDPR) affects several tech industries. While GDPR does not make it mandatory to encrypt all personal data, it is specifically listed as a good method to ensure adequate protection. QuintessenceLabs delivers the strongest key and policy management capability to help meet these kinds of specific data security requirements.
The company’s services and products integrate quantum-generated random numbers for use in encryption keys and a FIPS140-2 Level 3-conformant Hardware Security Module (HSM), as well as stringent policy controls. The products are designed for the high-volume data processing expected of large financial organizations.
The company’s Trusted Security Foundation platform can combine key management with a crypto gateway. This can, for example, satisfy the needs for a bank’s internal customers, regulators, and internal security staff, ultimately reducing the operating costs.
Along with its message of ‘Data Uncompromised’, the company’s CEO Vikram states “Our clients and partners can truly keep their data and records in motion or at rest with minimal concern”.
Keeping up to Speed with Technology
QuintessenceLabs knows the importance of encryption and complete security in crytocurrency and the various blockchain technologies. It believes that the existing and upcoming financial sectors working in and around the blockchain space will need to tackle the risks posed by quantum computers, for example by harnessing the advantages of quantum-powered security solutions delivered by the company. In the future, where the blockchain technologies are expected to be vulnerable to the threat of quantum computers, QuintessenceLabs’ quantum-safe capabilities will help organizations to improve their security posture.
Many sectors are witnessing the emergence of AI and machine learning. The company expects and welcomes this sort of digitization, yet focuses on strengthening cybersecurity now and into the future.
Featuring the Future
The company’s current product offerings are easy-to-deploy and easy-to-maintain security solutions giving organizations the strongest protection from today’s threats while building quantum resilience. In addition, QuintessenceLabs is a leader in the development of Quantum Key Distribution (QKD), which will distribute encryption keys between parties safe from the quantum computing attacks. Together these capabilities can secure the data of the financial organizations today and protect them against future threats.