Temenos chief says European sovereign cloud is not yet mature enough for major banks
Takis Spiliopoulos, CEO of Swiss banking software company Temenos, says European sovereign cloud and AI initiatives are not yet mature enough for major banks. Reuters reported his assessment on 28 October 2026.
The executive argues that locating US providers’ data centres locally does not resolve every concern about potential access to data. He also identifies regulatory requirements and cross-border operations as obstacles for institutions operating in multiple jurisdictions.
In his view, European offerings will need time before they can serve major banks at scale. His comments express the assessment of a commercial banking software provider: they are neither an independent measurement of existing services’ performance nor a regulatory decision.