Fineco CEO Backs Hybrid Cloud and In-House AI to Limit Supplier Dependence

Fineco is combining external cloud services with internally managed technology as its use of AI expands, chief executive Alessandro Foti told Reuters. The Italian digital bank’s approach is intended to keep control of critical systems while limiting exposure to suppliers’ pricing power.

It is a hybrid strategy, not a withdrawal from the cloud. Foti said some infrastructure remains cloud-based, while the bank keeps critical components in-house wherever possible.

Agents and models are different parts of the stack

Foti described developing and training AI agents, building the knowledge base they use, and then replacing third-party proprietary models with open-source alternatives hosted on the bank’s own premises.

That describes control over deployment and the application stack. It is not an announcement that Fineco is building a new frontier foundation model from scratch.

Growth can bring higher usage bills

Foti’s concern is that a consumption-based cloud bill can rise as the business expands: more activity can mean more usage and higher payments. He said the hybrid arrangement gives Fineco greater control and reduces exposure to vendor pricing.

The comments come as financial institutions examine dependence on external technology providers. Reuters cited the recent Google Cloud disruption that affected services at UK digital bank Revolut as an example of the operational stakes.

Fineco’s business combines online brokerage, banking and asset management around its proprietary technology. Foti’s interview sets out management’s preferred architecture and cost-control rationale; it does not provide a quantified saving from the new AI deployments.

Sources

• Reuters: Foti’s infrastructure and AI strategy interview
• Fineco: official leadership profile
• Pexels: office illustration license