Investigation into the Use of Quantum Computing in Enhancing Banking Cybersecurity at Fidelity Bank, Abuja
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Background of the Study
The financial sector is increasingly targeted by sophisticated cyber-attacks, necessitating advanced security measures to protect sensitive financial data and maintain customer trust. Fidelity Bank in Abuja, a leading financial institution in Nigeria, has been investing in cybersecurity solutions to safeguard its digital assets. However, the rapid advancement of quantum computing presents both challenges and opportunities in the realm of cybersecurity. Quantum computing has the potential to break traditional encryption methods, yet it also offers the promise of developing quantum-resistant algorithms and enhanced security protocols (Ibrahim, 2024). This study investigates the application of quantum computing to enhance banking cybersecurity at Fidelity Bank. By leveraging quantum cryptography, quantum key distribution, and quantum-enhanced intrusion detection systems, the bank can potentially thwart sophisticated cyber-attacks and secure its digital infrastructure (Okoro, 2023). The research will analyze the current cybersecurity challenges faced by Fidelity Bank, evaluate the feasibility of integrating quantum-based solutions, and assess the potential improvements in security performance. The study also explores the economic and operational implications of adopting quantum technologies, including the cost of implementation and the need for specialized human resources. As cyber threats evolve, the banking sector must adopt innovative strategies to protect customer data and ensure financial stability. By incorporating quantum computing into its cybersecurity framework, Fidelity Bank can position itself at the forefront of digital security innovation, setting new standards for the industry (Adeniyi, 2024).
Statement of the Problem
Fidelity Bank’s existing cybersecurity measures, while robust, are increasingly challenged by sophisticated cyber threats that exploit vulnerabilities in classical encryption systems. The emergence of quantum computing threatens to render these traditional methods ineffective, exposing the bank to potential data breaches and financial losses (Emeka, 2023). Moreover, the integration of quantum-enhanced security measures presents significant technical challenges, including high implementation costs, system compatibility issues, and a scarcity of expertise in quantum technologies. These factors create a gap between current security capabilities and the evolving threat landscape. The bank must therefore explore innovative quantum-based solutions to enhance its cybersecurity posture and protect sensitive financial information. This study aims to investigate the potential of quantum computing to provide more resilient cybersecurity measures for Fidelity Bank. By evaluating current vulnerabilities, assessing the feasibility of quantum technologies, and identifying the challenges associated with their integration, the research seeks to offer a comprehensive solution to bolster the bank’s defenses against emerging cyber threats (Nwankwo, 2025).
Objectives of the Study
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To evaluate the potential of quantum computing in enhancing banking cybersecurity at Fidelity Bank.
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To identify the technical challenges and integration barriers of quantum-based security solutions.
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To propose a strategic framework for the implementation of quantum-enhanced cybersecurity measures in the banking sector.
Research Questions
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How can quantum computing improve cybersecurity in banking environments?
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What are the key technical challenges in integrating quantum-based security solutions at Fidelity Bank?
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What strategic framework can facilitate the effective adoption of quantum-enhanced cybersecurity measures?
Significance of the Study
This study is significant as it investigates the use of quantum computing to enhance banking cybersecurity at Fidelity Bank, Abuja. The research provides vital insights into the benefits and challenges of adopting quantum technologies, aiming to safeguard financial data and protect against emerging cyber threats, ultimately strengthening customer trust and financial stability.
Scope and Limitations of the Study
This study is limited to investigating the use of quantum computing in enhancing banking cybersecurity at Fidelity Bank in Abuja, focusing on the stated objectives, current security measures, and selected Local Government Areas only.
Definitions of Terms
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Quantum Computing: A computational technology that leverages quantum mechanics to perform data processing at unprecedented speeds.
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Banking Cybersecurity: Measures and protocols implemented to protect financial institutions from digital threats.
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Quantum Key Distribution (QKD): A secure communication method that uses quantum mechanics to distribute encryption keys safely.
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