Latvian private bank Rietumu has collaborated with IT and startup community TechHub Riga to ensure a further fintech scene development in Latvia.

The partnership includes a wide range of events letting tech entrepreneurs strengthen their knowledge, participate in business bootcamps and build new contacts both in Latvia and abroad, according to TechHub Riga.

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TechHub Riga and Rietumu bank collaboration commenced in April, 2015, when the first Rietumu FinTech Challenge by TechHub Academy took place.

Commenting on the collaboration, TechHub Riga CEO Egita Polanska said: "The academy was one of the first events, totally focused on finance technology. Based on its success, we decided to continue working on the development of the fintech scene in Latvia. Rietumu bank is a perfect partner to implement this plan."

The further collaboration foresees hosting various events, including FinTech Club meetups to inform about the news in fintech and its growth potential.

The first meet, for which finance field and tech professionals are invited, is expected to take place in mid-January 2016.

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"Later next year, the second Rietumu FinTech Challenge by TechHub Academy will welcome fintech startups from the Baltics, Scandinavia and Europe to a business bootcamp and offer them mentoring sessions and a chance to fight for prizes," TechHub Riga reveled in it blog post.

Rietumu bank, which specializes in corporate banking and wealth management, offers a wide range of modern financial services, including the organisation of businesses of clients in the internet environment.