A quantum computing leap for financial services?

A research note from the Financial Conduct Authority considers the potential applications of quantum computing in UK financial services. Daniel Hirschfield and Martin Dowdall review the paper, some of the key challenges and what firms and regulators can do now to prepare for quantum computing applications.

Martin Dowdall (m.dowdall@taylorwessing.com) is a partner at law firm Taylor Wessing with particular expertise in the use of new technologies in financial services, including in relation to payments, cryptoassets and the use of AI. Daniel Hirschfield (d.hirschfield@taylorwessing.com) is senior counsel (Knowledge) with the firm.

The financial services sector has a deep association with technological change, as an adopter, catalyst and champion, stretching back to the end of the 19 century when transatlantic cables were used to enable electronic funds transfers.