A failure occurred on Google Cloud in London, which seems to have caused disruptions to multiple banking services.

An update on Google Cloud's status dashboard indicates that there is a service issue in its europe-west2 region, which covers the London area.

A few banking applications and services, including Halifax and Revolut, reported issues on Tuesday, which coincided in timing with a malfunction on Google Cloud. Some companies attributed the issue to Google Cloud, while others blamed it on an unnamed third-party supplier.

Revolut stated in a statement: "We are currently experiencing disruptions that affect multiple services. We can confirm that the funds and data of all customers are safe. Since we discovered the issue this morning, we have been working diligently to fix it and we apologize for any inconvenience caused to anyone affected." A source familiar with the matter said that the malfunction originated from Google Cloud.

Halifax posted on X, saying: "We are aware that some customers have encountered issues while using our applications and online services. We apologize for this, and we are working hard to resolve them."

A Google spokesperson stated that the company is investigating this issue and is directing Business Insider to the status dashboard.

At the time of this Google Cloud outage, the tech giant has been competing with Amazon and Microsoft to win over corporate, startup, and government customers, especially amid the AI boom. Reliability is a key commitment in these deals, as outages can come at a high cost to customers.

Google is not the only company to experience failures this year: Amazon, Microsoft, and other companies have also experienced outages this year.

This is an ongoing report, which will be updated in the future.