The Bank of International Settlements thinks Big Tech has become too big to fail. In a paper published on Tuesday, the central banker’s central bank argues that a growing reliance among financial institutions on cloud computing software supplied by a handful of companies could have “systemic implications for the financial system”. Around eight in ten financial institutions worldwide now use some form of public cloud, whether to boost computing capacity, better detect fraud or scale up security. Read More...
The Bank of International Settlements thinks Big Tech has become too big to fail. In a paper published on Tuesday, the central banker’s central bank argues that a growing reliance among financial institutions on cloud computing software supplied by a handful of companies could have “systemic implications for the financial system”. Around eight in ten financial institutions worldwide now use some form of public cloud, whether to boost computing capacity, better detect fraud or scale up security.
Add Comment