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Small banks have not done much to prepare for a world where quantum computers would break current encryption methods, wreaking havoc on the world. One exception is the $469 million Austin Capital Bank in Austin, Texas. A few years ago, its entrepreneurial founder and CEO Erik Beguin got a trademark for a new, high-tech savings account called Fort Knox, built from the ground up. In the process of building Fort Knox, Beguin’s team began working to protect the account in a post-quantum world, where a new version of a powerful supercomputer could theoretically break encryption. This technical leap is expected…
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WRITTEN BY
Naomi Snyder
Editor-in-Chief
Editor-in-Chief Naomi Snyder is in charge of the editorial coverage at Bank Director. She oversees the magazine and the editorial team’s efforts on the Bank Director website, newsletter and special projects. She has more than two decades of experience in business journalism and spent 15 years as a newspaper reporter. She has a master’s degree in journalism from the University of Illinois and a bachelor’s degree from the University of Michigan.