By HintSight November 1, 2025
Introduction: OCBC to collaborate with local universities in quantum computing research
OCBC Bank is working with the National University of Singapore (NUS), Nanyang Technological University (NTU) and Singapore Management University (SMU) to tap the enhanced computational power of quantum computers to strengthen real-time fraud detection and better secure data against new threats. Under this yearlong research collaboration, OCBC will also be harnessing quantum algorithms to perform derivative pricing, the process of determining the value of equity derivative products such as options, futures and swaps.
Protecting Data Against Fraud and Cyberattacks
The digitalization of financial transactions and the rise of financial engineering have heightened the risks of fraud and unauthorized access to sensitive business and banking information. As a result, novel but rigorous methods are needed to detect fraudulent activities and protect sensitive financial data.
Quantum Computing and Its Discontents
While a classical computer would need to simulate a million different scenarios, a quantum computer would only need to simulate a thousand scenarios to get the same result. Because of that quantum machine-learning techniques can be used to analyse complex and unstructured data to pick up patterns and anomalies indicative of fraudulent activity. However, quantum technology may also render current encryption technology obsolete. To tackle that, OCBC will work with NTU to strengthen cryptography techniques.
Collaboration with the Strategic Centre for Research in Privacy-Preserving Technologies and Systems (SCRIPTS) at NTU
In particular, OCBC will be working with SCRIPTs to develop those capabilities. According to Prof Wang Huaxiong, director of SCRIPTS and co-founder and the director of HintSight, “We are using our expertise in post-quantum cryptography to develop solutions that can withstand next-generation cyberattacks”. Mr Peter Koh, head of group technology architecture at OCBC also added that the findings from this collaborative effort will be published in research papers and journals with the aim of helping other organisations to adopt quantum technology.
Conclusion: Expanding HintSight’s Capabilities in Privacy-Enhancing Technology
Quantum technology creates more opportunities for HintSight. This is because even as quantum technology leaves existing encryption technology vulnerable, our cutting-edge privacy-preserving technology remains quantum-secure. This means that HintSight will continue to provide efficient and secure solutions that uphold the privacy and security of sensitive data for years to come.
(Source: The Straits Times, 18 July 2025)
