- Quantum computers pose a significant threat to traditional banking security and public-key cryptography (like RSA and ECC) used in financial systems. - 'Harvest now, decrypt later' attacks involve malicious actors intercepting and storing encrypted data today to decrypt it once quantum computers mature. - Quantum-safe cryptography (post-quantum cryptography) and quantum key distribution (QKD) are emerging solutions being adopted by advanced financial institutions to secure networks against quantum threats. - The transition to quantum-safe banking is critical for safeguarding global economic infrastructure, data privacy, and financial stability. **Introduction** The article discusses the dual implications of quantum technology in the banking and financial sector: quantum computers acting as a major threat to conventional encryption methods, and quantum-enhanced security tools (such as post-quantum cryptography and quantum key distribution) being deployed by forward-looking banks to counter these vulnerabilities and protect against 'harvest now, decrypt later' attacks. **Core Issue and Detailed Points** - Quantum computers pose a significant threat to traditional banking security and public-key cryptography (like RSA and ECC) used in financial systems. - 'Harvest now, decrypt later' attacks involve malicious actors intercepting and storing encrypted data today to decrypt it once quantum computers mature. - Quantum-safe cryptography (post-quantum cryptography) and quantum key distribution (QKD) are emerging solutions being adopted by advanced financial institutions to secure networks against quantum threats. - The transition to quantum-safe banking is critical for safeguarding global economic infrastructure, data privacy, and financial stability.