UK financial regulators are preparing to step up their scrutiny of cloud computing providers amid growing fears that an outage or hack of their services could severely disrupt a banking system increasingly reliant on them.
The Prudential Regulation Authority is exploring ways to access more data from cloud providers Amazon, Microsoft and Google, including on the operational resilience of their services, according to people familiar with the matter.
The trio dominate cloud computing, a global market that has boomed as more companies transfer data and IT services to third-party servers run by Big Tech.
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