Cryptography has been at the center of financial services and their fight against fraud for years. The recent rapid expansion in the volume of financial transactions in digital environments has also been accompanied by a large increase in the number and different types of financial fraud schemes, that exploit vulnerabilities in payment systems, as well as those related to user behaviors.

In this changing landscape, cryptography and its applications continue to be a central element in all the lines of defense used to mitigate different types of fraudulent activities and, in many cases, also as a requirement by multiple government and/or industry regulators.

The field of Cryptography itself is going through a period of accelerated evolution: with new algorithms, technologies and innovative service models being implemented within the entire financial services landscape. From “Crypto-Agility” processes and Post-Quantum Encryption algorithms, to cryptanalysis assisted by artificial intelligence (AI), and innovative infrastructure models such as “Confidential Computing” and Cloud services.