FCA to launch quantum computing trials targeting financial crime

What happened

The Financial Conduct Authority (FCA) will bring together financial services firms, quantum technology providers and national research laboratories to test how quantum computing could help tackle financial crime.

The Quantum Experimentation Group will launch in the first quarter of 2027, initially focusing on whether quantum machine learning could help detect money laundering and fraud. The FCA describes it as the world’s first regulator-led quantum computing experimentation group.

Participants will use an FCA synthetic dataset — artificially generated data — to address access to suitable data, which the regulator identifies as a key barrier to testing. Eligible organisations can register their interest in joining by 31 December 2026.

Why it matters

The initiative gives financial firms and technology providers a setting in which to explore practical financial-crime applications alongside researchers and the regulator. Findings will be shared to guide further testing, while the FCA will use the work to understand the technology’s opportunities, limitations and possible implications for regulation.

Jessica Rusu, the FCA’s chief data, information and intelligence officer, said early experimentation was essential to understanding quantum computing’s potential in financial services. She said collaboration could help organisations build readiness and identify practical applications for common industry challenges, beginning with financial crime.

The programme is exploratory: its stated purpose is to investigate potential uses and practical constraints, rather than report proven improvements in detection.

Context / What to watch

The group builds on the FCA’s research into the long-term potential of quantum computing in financial services. It will support organisations ranging from those beginning to assess possible use cases to those already conducting advanced experiments.

The FCA will define problem statements and work with participants to examine opportunities, limitations and practical considerations. The registration deadline and planned launch are the next milestones for firms considering participation.