The BoE, along with regulators in Europe and the United States, is concerned about banks’ reliance on a handful of big-tech companies for cloud computing in increasingly critical banking services, and one of which could have an impact on financial stability. .
“This is a big issue in the UK and internationally,” said Victoria Sporta, Boeing’s executive director for prudent oversight, at an event organized by the Institute of International Finance, a global banking industry organization.
The world view would be the best, she said.
“Our current view is that the most effective approach to managing these risks from critical third party service providers is through a combination of minimum flexibility standards aimed at at least temporary third parties … with this critical third party resilience test,” Support said.
Outbreaks appear to be exacerbated by the e-commerce platform, but Flipkart seems to be thriving based on its latest figures, which we only report on today.