UK Financial Services: Quantum Readiness Index
Research report. 14 pages, September 2026.
A measurement of 34 UK banks and 10 market-infrastructure and insurance firms, scored from their public websites in September 2026. UK banks average 57, against a global banking average of 54, and rank 11th of 49 markets. 13 of the 34 banks use hybrid ML-KEM. Names are anonymised, and the scoring method is in the appendix. Download it to benchmark your institution against UK and global peers ahead of the NCSC 2028 milestone.
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The NCSC expects migration to be well under way by 2028 and largely complete by 2035. How close are UK financial institutions?
UK banks average 57, ahead of the global banking average of 54, and rank 11th of 49 markets. But the spread is wide. Eight banks score 70 or above, with a top score of 89. Eight score below 50, with the lowest at 29. No classical-only institution scores above 59.
The report scores 34 banks and 10 market-infrastructure and insurance firms from live TLS connections, with the full method in the appendix. Download it to benchmark your institution against UK and global peers before 2028.
FAQ
Who is this for?
Security and risk teams at UK banks, insurers, and market infrastructure, and anyone comparing them with peers.
What was measured?
Live TLS connections to public websites. There was no questionnaire and no internal access. Mail transport and identity-provider signing are discussed in an appendix but are not scored.
How is the score calculated?
Out of 100, from four weighted parts. Algorithm resilience counts 40, crypto agility 30, harvest exposure 20, and migration posture 10. A score of 70 or more means hybrid migration is under way, 50 to 69 means quantum-vulnerable, and below 50 is critical.
What is the spread?
Eight banks score 70 or above, with a highest score of 89. Eight score below 50, with a lowest of 29. No classical-only institution scores above 59.