The FCA is convening a group of experts to explore how quantum computing can help tackle financial crime.
Marking the first initiative of its kind for a regulator, the FCA will bring together financial services firms, quantum technology providers and national research laboratories to form the Quantum Experimentation Group.
Launching in the first quarter of 2027, the group will initially explore how quantum machine learning could help detect money laundering and fraud using a synthetic dataset.
The group will help firms explore practical uses of quantum computing in financial services and share findings to guide future testing. It will also help the FCA understand the technology’s opportunities and limitations, barriers to experimentation and what these could mean for regulation.
Jessica Rusu, chief data, information and intelligence officer at the FCA, said: “We want to help firms explore where quantum could make a meaningful difference, and early experimentation is essential to understanding its potential in financial services.
“By bringing together firms, technology providers and researchers we can build readiness and identify practical applications for common industry challenges, starting with financial crime.”
Financial services firms, quantum technology providers and national research laboratories can register their interest in joining the group by 31 December 2026.
