Google Cloud ran into trouble in Europe on Tuesday, disrupting Revolut and other services for hours. By the US morning, Google updated its status page saying the disruption "has been mitigated" for most customers, while noting some still faced issues.
Google attributed the problem to a "power event" and declined to provide further details. The company said the update should eventually bring affected services back online.
Revolut said it was dealing with a service disruption tied to a recent Google Cloud outage and emphasized funds and data were secure. A spokesperson noted the company began addressing the problem as soon as it was identified and has been working on a fix since then.
HSBC Holdings Plc said, "We are aware that some customers are experiencing difficulties accessing our services," and added it is continuing to monitor the situation without linking it to Google Cloud. Lloyds Banking Group Plc reported that certain online services had issues; however, customers were still able to log in to its app as usual, and it is "monitoring the situation closely."
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Consumer apps also stumbled.
Google's cloud division has been pushing to win business from financial firms to compete with larger rivals. Because so much cloud capacity is clustered with a small set of vendors - among them Google, Microsoft Corp. and Amazon.com Inc. - a single technical fault can simultaneously impact thousands of websites and apps.
For portfolios exposed to fintechs, banks, or cloud platforms, this is a reminder of vendor concentration risk - reliance on a few key suppliers. Even when issues are mitigated, ripple effects can show up in customer support costs, reputational dents, and short-term engagement drops across apps that depend on the same backbone.
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