The Financial Conduct Authority (FCA) is inviting firms to join its Quantum Experimentation Group (QEG), an initiative launching in the first quarter of 2027 focused on applying quantum computing to financial services. Registrations are due by December 31, 2026, and the QEG will initially explore detecting financial crime through participant-led experimentation.
The FCA believes collaboration around common regulatory use cases can help overcome barriers to quantum adoption and result in stronger protections for consumers. Through the QEG, the regulator aims to build knowledge, develop early insights and provide access to a synthetic dataset for evaluating quantum approaches.
QEG Focus: Quantum Machine Learning for Financial Crime Detection
The Financial Conduct Authority’s (FCA) Quantum Experimentation Group (QEG) will initially concentrate on applying quantum machine learning to the detection of financial crime, a targeted approach designed to yield practical insights within a defined regulatory context. This focus, revealed as part of the QEG’s aims, moves beyond broad exploration to address a pressing concern for both the financial sector and consumer protection.
The QEG intends to use a common synthetic dataset, allowing participants to evaluate quantum approaches against existing classical techniques for anti-money laundering (AML) and fraud detection. Access to suitable data is often limited, hindering the ability of firms to test and refine quantum algorithms, and this shared dataset addresses that significant practical barrier.
The FCA recognizes that translating real-world problems into potential quantum applications requires specialist expertise, and the QEG aims to bridge this gap by supporting collaboration between financial institutions, quantum computing providers and research labs. The initiative will explore the technical feasibility of quantum solutions and assess the associated opportunities and risks, informing future regulatory considerations. The QEG’s structure is designed to build institutional capability through the sharing of high-level learning while safeguarding commercially sensitive information.
Participants will be responsible for developing and assessing their own solutions, working with quantum specialists to ensure rigorous evaluation. The QEG’s launch is scheduled for the first quarter of 2027, following a registration deadline of December 31, 2026, for firms, quantum computing providers and research labs.
The FCA explicitly welcomes expressions of interest from a diverse range of organizations, including those just beginning to explore quantum computing and those already actively engaged in research and experimentation. The agency intends to provide access to a synthetic dataset, giving participants a common foundation for developing, testing, and comparing quantum approaches. Participation in the QEG will offer practical experimentation opportunities, collaboration with specialist experts, and knowledge-building exercises.
The FCA emphasizes that involvement will not constitute endorsement of any particular technology or solution, nor will it guarantee regulatory compliance. Instead, the QEG is an early-stage initiative focused on evidence generation and shared learning. Participants will have opportunities to explore quantum approaches to a financial services regulatory problem using an FCA synthetic dataset.
The FCA’s exploration of quantum machine learning for financial crime detection reflects a proactive approach to emerging technologies and their potential impact on the financial system. The agency aims to understand how quantum computing can be harnessed to address regulatory objectives while also mitigating potential risks.
As the FCA states, the QEG will focus on building knowledge and institutional capabilities, supporting further quantum experimentation in financial services. The agency is inviting organizations to register their interest via email, understanding that registration does not guarantee participation and that further details regarding eligibility and selection will be shared as the program develops.
See today’s quantum computing news on Quantum Zeitgeist for the latest breakthroughs in qubits, hardware, algorithms, and industry deals.
