EU banks need more control over their data – DNB board member
Chair of supervision says tech, finance and public sector need to work together to reduce dependencies
The chair of supervision at the Netherlands Bank (DNB) has said banks in the European Union need to strengthen their control over data.
Steven Maijoor told a fintech and regulation conference in Brussels on February 3 that the bloc’s financial sector was still too reliant on non-European digital infrastructure providers. He said the dependency on these “hyperscalers” – a term usually applied to Microsoft, Amazon and Google – was a source of systemic risk.
Banks needed to strengthen control over
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