Dutch bank Rabobank is launching a €40 million fund to invest in early-stage financial technology companies, as part of its broader portfolio of innovation initiatives.

Speaking at the Money 20/20 fintech conference in Copenhagen on April 5, Rabobank's chief information officer René Steenvoorden said the bank is going to set up a fund to seed fintech companies it works with as well as home-grown "moon-shot" innovation projects.