EU banks want the cloud closer to home amid tariff wars
Fears over US executive orders have prompted new approaches to critical third-party risk management.
Financial institutions across the European Union are increasingly worried that their dependence on US technology vendors could leave them vulnerable to any renewed flare-up in the tariff dispute between the two jurisdictions. While the risk of concentrated third parties has been on the radar of both banks and regulators for some time, the economic nationalism of President Donald Trump has focused minds on the dominant role of US cloud providers in particular.
Sources say banks in Germany, Italy
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