LONDON — The UK has officially designated Microsoft, Google Cloud, Amazon Web Services (AWS) and Oracle as critical third-party providers to the country's financial sector, bringing the technology giants under direct regulatory oversight.

The move is designed to strengthen the resilience of Britain's banking system as financial institutions become increasingly dependent on cloud computing for payments, trading, customer services and data storage. Under the new framework, the designated providers will be jointly supervised by the Bank of England, the Prudential Regulation Authority and the Financial Conduct Authority.

The companies will be required to undergo resilience testing, conduct regular self-assessments and report major technology incidents that could disrupt financial services. Officials say the measures will help reduce the risk of widespread outages or cyberattacks affecting multiple banks and millions of customers simultaneously.

Technology and finance experts have welcomed the decision, noting that cloud platforms now form the backbone of modern banking infrastructure. They say stronger oversight will improve operational resilience while maintaining confidence in the UK's rapidly expanding digital economy.

The regulations take effect this month, marking another significant step in Britain's efforts to strengthen cybersecurity and modernise oversight of critical technology infrastructure supporting the financial sector.