The UK Financial Conduct Authority (FCA) will launch a Quantum Experimentation Group in the first quarter of 2027 to examine potential applications of quantum computing in financial services, initially exploring how quantum machine learning could help detect money laundering and fraud using an FCA synthetic dataset. The group, described as the first of its kind for a regulator, will bring together financial services firms, quantum technology providers and national research laboratories, which can register their interest in joining by 31 December 2026. Participants will use the FCA synthetic dataset—artificially generated data—to help overcome a key barrier to testing: access to suitable data. The group will help firms explore practical uses of quantum computing in financial services and share findings to guide future testing, and 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 early experimentation is essential to understanding quantum's potential in financial services, and that bringing together firms, technology providers and researchers can build readiness and identify practical applications for common industry challenges, starting with financial crime. The initiative builds on the FCA's research into the long-term potential of quantum computing in financial services.