Rabobank, ING, and ABN Amro seek European alternatives to U.S. technology
The three largest banks in the Netherlands, ABN Amro, ING, and Rabobank, have spoken about their plans to reduce their reliance on American tech companies. The banks are working with other European banks to create alternatives and enhance Europe’s digital sovereignty, such as shared cloud and data infrastructure.
Senior executives warn that a large part of IT infrastructure remains dependent on American providers, especially cloud services and artificial intelligence, posing risks amid an unstable geopolitical environment. “We rely on American tech giants, and I won’t pretend otherwise. Our key IT providers are based in the U.S,” said Rabobank CEO Stefaan Decraene.
Decraene emphasized that the industry intends to develop its own European cloud and data infrastructure, “But this is going to take a while. I’d estimate it will take around three to five years.”
European banks are advocating for fair and homegrown payment infrastructures, given the dominance of American systems like Visa and Mastercard in Eurozone transactions. Initiatives such as the European Payments Initiative (EPI) and products like Wero provide European alternatives to these U.S.-based services.
The official shift from iDEAL to the European payment system Wero started in January 2026. Dutch consumers are now seeing the combined iDEAL | Wero logo in their bank apps and on e-commerce sites. The full technical migration of iDEAL transactions to the European system is scheduled to be completed by the end of 2027.
ING CEO Steven van Rijswijk told NOS that the bank is taking steps to lessen its reliance on U.S. tech firms. “Let’s be honest, many components of this infrastructure are supplied by American companies,” he said.
The European Central Bank and top banking executives are pushing to speed up the introduction of a digital euro, aiming to lessen reliance on non-European payment networks.
The Netherlands Authority for the Financial Markets (AFM) and De Nederlandsche Bank (DNB) have determined that the financial sector’s growing reliance on a small number of non-European IT providers poses systemic risks in the event of service disruptions.
This is especially true for cloud services and digital infrastructure, frequently supplied by American tech firms. Ironically, DNB itself relies on Microsoft systems, underscoring the tension between cautioning against dependence and being dependent.
Dutch politicians have earlier urged efforts to lessen reliance on U.S. software firms and to establish European alternatives, such as developing national cloud services.
