On 5 November 2026, the Financial Conduct Authority (FCA) announced a new Quantum Experimentation Group (QEG) intended to explore quantum computing applications in financial services.
Summary
The FCA explains that the QEG will aim to help firms assess where quantum computing may offer benefits over existing classical computing approaches, while enabling the FCA to develop an early understanding of the regulatory opportunities and risks associated with the technology. The FCA notes that firms are at differing stages of quantum development and that barriers to experimentation can include limited specialist expertise and access to suitable data.
The FCA sets out that initial use case will focus on financial crime detection. Participants will explore quantum machine learning approaches to anti-money laundering and fraud detection using a common FCA synthetic dataset, allowing quantum approaches to be tested and compared against classical techniques. The programme will also seek to generate early regulatory insights; support knowledge sharing and build institutional capability across participating organisations.
The FCA emphasises that the QEG is an early-stage experimentation and evidence-generation initiative. Participation will not constitute FCA approval or endorsement of a participant, technology or solution, nor confirm that any resulting approach complies with applicable regulatory requirements. Further information on eligibility, selection and participation arrangements will be provided as the programme develops.
Next steps
Expressions of interest are invited from UK financial services firms, ranging from organisations beginning to investigate quantum computing to those already conducting research, as well as quantum computing providers and research labs. Participants will have opportunities to undertake practical experimentation and collaborate with technology providers, researchers, other financial services firms and FCA subject-matter experts.
The initiative is open for expressions of interest and is expected to launch in Q1 2027, with interested organisations asked to register by 31 December 2026.