The international regulatory group said that despite some benefits from tech firms' incursion, the companies' efforts may present operational and disruption risks.
In a move to aid faster expansion and provide more security and regulatory compliance tools, Klarna Bank in Sweden is strengthening its longtime relationship with Amazon Web Services by making it the bank's preferred cloud provider.
First Horizon, Iberiabank in year's second-biggest bank merger; bank failure in New Jersey is nation's third in a week; smaller banks take a turn swinging the ax; and more from this week's most-read stories.
Executives from the bank and the tech company have been working for months to create a cloud designed to address the challenges that often slow financial institutions' adoption of cloud computing.
With financial institutions relying more and more on cloud computing services, Washington is increasingly focused on the concentration of industry data in the big three technology giants.
The company still intends to shut down its data centers next year even as the recent hacking that exposed the data of some 100 million people raised questions about its aggressive embrace of cloud computing.
