UK FCA launches new Quantum Experimentation Group

The UK Financial Conduct Authority (FCA) has announced the launch of its Quantum Experimentation Group (QEG), an initiative aimed at exploring applications of quantum computing in financial services. The QEG will bring together financial services firms, quantum computing providers and research laboratories to conduct participant-led experimentation, initially focusing on the use of quantum machine learning for financial crime detection. Participants will have access to an FCA synthetic dataset, with the initiative intended to build knowledge and capability, generate evidence and support the development of early regulatory insights into the use of quantum computing.

The QEG is expected to launch in Q1 2027 and UK organisations interested in participating are invited to register their interest by 31 December. The FCA notes that participation will not constitute its approval or endorsement of any participant, technology or solution, or confirmation that any resulting approach complies with applicable regulatory requirements. The FCA will share further information about eligibility and the selection process, participation arrangements and next steps as the programme develops. The FCA also published a blog setting out expectations on how firms should prepare for post-quantum cryptography.

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