UK financial services regulators have got progressively more comfortable with public cloud – to the extent that multicloud failovers, industry CIOs tell us, are no longer seen as a “must”. After all, region-wide borkage like Google Cloud’s unfortunate fire and flood combo is as rare as hen’s teeth.
By and large the hyperscalers have proven to be resilient – and automated cross-region failover and failback for active and warm standby disaster recovery patterns is just a few clicks of a button away for most firms.
But the boom in AI use has put cloud-related “concentration risk” back in the spotlight, a recent paper from the Bank of England suggests.
