Dutch bank ABN Amro is collaborating with Techstars to search for new startups capable of transforming financial services for businesses and consumers according to a report in Finextra.

The partnership between the bank and Techstars' network of startup entrepreneurs, involves inviting early-stage companies to join an inaugural accelerator program in Amsterdam in 2021.

"Working with startups is crucial for ABN Amro's innovation journey. Our aim is to be at the forefront of new technology in relevant ecosystems related to financial services, and helping startups to become leaders in their field while building out our own leading position in innovation as well," Edwin van Bommel, chief innovation officer at ABN Amro said. "We believe combining pioneering products and services developed by startups with the expertise and scale of ABN Amro will accelerate both of our dreams and ambitions."