The Financial Conduct Authority announced its Quantum Experimentation Group on 5 November 2026. The group is intended to bring together financial services firms, quantum-computing providers and research laboratories to examine potential uses of quantum computing in financial services.
The initial use case will focus on whether quantum machine learning could assist with anti-money laundering and fraud detection. The FCA says participants will use a common synthetic dataset to explore and evaluate quantum approaches, including comparisons with classical techniques. The initiative is expected to launch in the first quarter of 2027.
This is an experimentation programme, not a new regulatory rule, approval process or statement that quantum techniques are already effective for financial-crime detection.
Who can express interest
The FCA is inviting expressions of interest from UK organisations in three groups:
- financial services firms, including organisations at an early stage of exploring quantum computing and those already undertaking research;
- quantum-computing providers seeking to apply their expertise and resources to financial-services challenges; and
- research laboratories with relevant expertise in experiment design and evaluation.
The deadline to register interest is 31 December 2026. Registration does not guarantee participation. The FCA says it will provide further information about eligibility, selection, participation arrangements and next steps as the programme develops.
What the programme is designed to test
The FCA describes the group as a way to build evidence about opportunities, limitations and practical considerations associated with quantum technologies. It also wants to understand barriers to experimentation and possible future regulatory considerations.
The synthetic dataset is intended to reduce one practical obstacle: access to suitable data for testing. Participants will nevertheless remain responsible for developing and assessing their own solutions with relevant specialists.
The FCA also says participant-specific and commercially sensitive information will be protected while high-level learning may be shared. The inspected material does not specify the detailed participation terms, data arrangements or intellectual-property provisions, so interested organisations would need to assess those once available.
Operational questions for interested firms
For a firm deciding whether to express interest, useful internal questions may include:
- whether the proposed AML or fraud-detection problem is sufficiently defined for controlled experimentation;
- what evidence would be needed to compare a quantum approach with existing methods;
- which financial-crime, data, technology, legal and risk owners would need to participate;
- how synthetic data, model testing, information security and record keeping would be governed; and
- what resources can be committed without treating experimental results as production-ready controls.
These are general planning considerations rather than FCA requirements created by the announcement. Participation would not constitute FCA approval or endorsement of an organisation, technology or solution, and it would not confirm that any resulting approach meets applicable regulatory requirements.
Status and sources
The FCA press release and programme page were published on 5 November 2026. Expressions of interest are voluntary and close on 31 December 2026. The programme is planned to launch in Q1 2027.
This article provides general information, not legal, regulatory or technical advice for a particular firm.