LONDON—Amazon.com Inc., Google Inc., and other tech companies providing cloud computing to banks in Britain may have to comply with minimum resilience standards and testing, a senior Bank of England official said on Monday.
The Bank of England (BoE), along with regulators in Europe and the United States, is worried about the reliance of banks on a handful of Big Tech firms for cloud computing in increasingly critical banking services, and the impact an outage at one of them could have on financial stability.
