UK financial system strengthened with new safeguards for major technology providers
Market
Board-level cloud concentration and resilience
Trend
The UK designated four major technology providers as Critical Third Parties, moving systemic cloud dependency into direct supervisory scope.
Tech Highlight
The regime applies resilience testing and oversight at the provider layer rather than relying only on each financial institution’s vendor controls.
6-Month Outlook
Banks will demand stronger exit, portability, and outage evidence; watch contract changes and cross-provider recovery tests.