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Check Your Vendors’ Quantum-Safe Readiness with New Tool from Nacha’s Payments Innovation Alliance

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Check Your Vendors’ Quantum-Safe Readiness with New Tool from Nacha’s Payments Innovation Alliance

The time for financial institutions to prepare for quantum-safe computing is now, and Nacha’s Payments Innovation Alliance has a new tool to help.

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“This tool can help financial institutions start the discussion on the most critical questions which need to be answered by their vendors sooner rather than later.”

A federal initiative set a goal of making critical infrastructure sectors quantum-safe by December 2030. The financial services sector is considered critical infrastructure and will have to be ready to meet forthcoming minimum cryptographic bill of material (CBOM) elements from the Cybersecurity and Infrastructure Security Agency (CISA) and National Institute of Standards and Technology (NIST).

To help accomplish that, the Alliance’s Quantum Payments Project Team has created a Vendor Questionnaire which banks and credit unions of all sizes can use to confirm their vendors’ plans, timelines, impacts to an FI’s organization, and to support current and emerging cryptographic standards. With six sections covering topics including “Meeting Compliance and Regulatory Requirements” and “Preparing for the Unexpected,” the questionnaire contains more than 30 sample questions.

They also developed instructions for financial institutions to help administer the questionnaire. It includes how to use the questionnaire, helpful tips, the scope, and what steps to take after it is completed.

“This tool can help financial institutions start the discussion on the most critical questions which need to be answered by their vendors sooner rather than later. It is also customizable, so you can tailor questions to specific business needs,” said Jennifer West, AAP, AFPP, APRP, Nacha Senior Director, Payments Innovation Alliance, Education and Accreditation.


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