The United Kingdom’s Financial Conduct Authority (FCA) plans to convene financial services firms, quantum technology providers and research labs in 2027 to explore whether quantum machine learning could assist anti-money laundering and fraud work.
The FCA announced Nov. 5 that its Quantum Experimentation Group is expected to begin in the first quarter of 2027. Its first focus is detecting financial crime. Participants will develop and assess their own quantum machine-learning approaches, then compare results with classical computing techniques. The FCA will provide a synthetic dataset for the work. The regulator says firms can face practical barriers when they lack suitable data or specialist expertise to test quantum methods.
Jessica Rusu, the FCA’s chief data, information and intelligence officer, said, “Early experimentation is essential.” The regulator says the initiative is intended to build understanding of quantum technology’s potential, limitations and possible regulatory implications. It says collaboration on shared challenges could eventually strengthen consumer protections.
The FCA describes the group’s work as early evidence-building. Participation does not constitute FCA approval or endorsement of a participant, technology or solution.
A 2025 FCA research note said the view that quantum computing was not ready for deployment reflected a consensus among financial services firms and might not represent the regulator’s position. The note described proofs of concept as a way to learn about possible applications, rather than to demonstrate immediate commercial advantage.
UK financial services firms, quantum computing providers and research labs can register interest by Dec. 31, 2026. Registration does not guarantee a place. The FCA says it will provide more information about eligibility and selection as the program develops.
