Bank revolt in Europe. The Dutch giants want to distance themselves from the USA

The largest Dutch banks – Rabobank, ING and ABN Amro – intend to reduce dependence on American technology giants. Together with other banks in Europe, they are working on solutions to strengthen European digital sovereignty, public broadcaster NOS reported.

Rabobank, ING and ABN Amro want to become as independent as possible from cloud services and solutions based on artificial intelligence, which are currently largely provided by entities from the United States. American technology companies.

According to Rabobank's president, Stefan Decraene, dependence on American IT suppliers is a potential geopolitical risk. These concerns are shared by European Union institutions, including the European Commission and the European Central Bank, especially in the context of trade and political tensions between the EU and the US.

Dutch banks are in talks with other European financial institutions about building their own cloud structures and data management in Europe. ING admits that although it has its own cloud, many of its elements still come from American companies.

One example of European cooperation is the Wero payment system, developed as part of the European Payments Initiative as an alternative to services such as Visa, Mastercard or PayPal. However, banks emphasize that it will take several more years to create real European alternatives to American technology.

From Amsterdam Patryk Kulpok (PAP)

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