Banks' over-reliance on a handful of 'secretive' cloud computing services threatens financial stability, Bank of England warns

clock • 2 min read

Moving key services to the cloud enables efficiencies but increases reliance on a few vendors

The over-reliance of Britain's financial sector on "secretive" cloud providers could disrupt the normal functioning of the financial system, the Bank of England (BoE) has warned. For the past se...

To continue reading this article...

Join Computing

  • Unlimited access to real-time news, analysis and opinion from the technology industry
  • Receive important and breaking news in our daily newsletter
  • Be the first to hear about our events and awards programmes
  • Join live member only interviews with IT leaders at the ‘IT Lounge’; your chance to ask your burning tech questions and have them answered
  • Access to the Computing Delta hub providing market intelligence and research
  • Receive our members-only newsletter with exclusive opinion pieces from senior IT Leaders

Join now

 

Already a Computing member?

Login

You may also like
Cloud adoption in 2024: Navigating AI, edge computing and the road beyond

Cloud and Infrastructure

CIOs are pursuing best-fit cloud solutions that avoid vendor lock-in

clock 09 April 2024 • 3 min read
WebAssembly heralds 'third wave of cloud computing'

Cloud and Infrastructure

Wasm: 'Speed and agility is the name of the game'

clock 26 March 2024 • 3 min read

More on Finance

Built world climate tech stands out against VC slump

Built world climate tech stands out against VC slump

The UK is in a strong position for global investment

Penny Horwood
clock 06 December 2023 • 3 min read
HSBC online banking outage hampers Black Friday shopping for thousands

HSBC online banking outage hampers Black Friday shopping for thousands

Many customers complained about the lack of communication from the bank

clock 27 November 2023 • 3 min read
Microsoft owes $29bn in tax, US authorities say

Microsoft owes $29bn in tax, US authorities say

Microsoft says it disagrees with the IRS' latest tax demand

clock 13 October 2023 • 3 min read